1403-63 Forest Dr, Louisville, KY 40219

$1,880,000
Property Type: Multi Family Square Footage: 25,860 Status: Closed
Current Price: $1,880,000 List Date: 3/10/2019 Last Modified: 11/26/2024

Overview

Description

Property is under contract pending inspections. Twenty Four 3 bedroom 2 bath single family homes on individual lots being sold as a package rental community. These homes have separate utilities and title just like any single family home. Rents average Approximately $741.00 each with a high of $867.00 and Low of $615.00. High demand makes these houses very easy to rent to good tenants. Rent roll and P & L are available. Please understand that the owner will not inconvenience the residents with interior inspections until a firm contract, subject to an interior inspection is in place. In this neighborhood and at this price there home would be like having a revolving door. NOTE: This is a KHC Deed Restricted, Low Income Community with 12 years remaining on the restrictions.

Supplements: Sold individually these homes have supporting comparable sales indicating a value in excess of $125,000 each with a bit of updating. They can be sold to an owner occupant by a new owner as long as the purchaser meets the same low income restrictions as a renter. INCOME IS THE ONLY RESTRICTION FOR AN OWNER OCCUPANT. For example, a retiree with a l ...

Listing Details MLS# 1511507

General Listing Information

Listing Price
1950000
Property Sub Type
Apartment
HOA Y/N
No
HOA Annual $
0

Location

Street #
1403-63
Street
Forest
St Suffix
Dr
Area
06-Buchel/Hghvw/okolona/FernCreek
Sub Area
A
County
Jefferson
State/Province
KY
Zip Code
40219
Deed Bk
07552
Parcel ID
See List in Documents
Pg #
0755
Subdivision/Condo
INDIAN FOREST
Block
3373
Lot
0001-25
Municipality
Louisville
Directions
I-65 to Fern Valley Road, East on Fern Valley to Jeanine, North on Jeanine to Melda Drive, turn West on Melda drive and right on Forest Drive. First 24 houses and a vacant lot on the left (West) side of the street. No sign.

Contract Info

Original List Price
2136000
Disclosure
No

Property Description

SqFt -Total Finished
25860
Above Grade Finished
25860
First Floor Laundry
Yes
Total Units
24
Lot Size Dimensions
0000
Security Deposit
200
Age
17
Year Built
2011
# Parking Spaces
48
Covered Parking
No
Term/Lease
MO/MO
R Factor Ceiling
Yes
R Factor Wall
Yes
# of Furnaces
24
# of Water Heaters
24
Separate Meters
Yes
Sold As-Is
Yes
M Struct Flood Plain
No
Below Grade Finished
0
Nonconform SqFt Fin
0
Above Grade Unfin
0
Below Grade Unfin
0
Sqft - Total Unfin
0

Status Change Info

Contract Acceptance Date
2019-03-15
Sold Date
2019-07-01

More Information

1st Level

Total Units
24
# of Rooms
120
Living Room
24
Full Baths
48
Kitchen
24
Refrigerator
Yes
Range
Yes
Dishwasher
Yes
Laundry
Yes
Rent
17785

Architectural Style

Ranch
Yes

Utilities

Electricity Connected
Yes

Water Source

Public
Yes

Sewer

Public Sewer
Yes

Construction

Brick Veneer
Yes
Vinyl Siding
Yes
Other
Yes

Roof

Shingle
Yes
Pitched
Yes

Owner Pays

Trash Collection
Yes

Tenant Pays

Cable TV
Yes
Electricity
Yes
Sewer
Yes
Water
Yes

Heating

Electric
Yes
Heat Pump
Yes

Patio and Porch Features

Porch
Yes

Cooling

Heat Pump
Yes
Central Air
Yes

Property Features

Architectural Style: Ranch Construction: Brick Veneer; Vinyl Siding; Other Roof: Pitched; Shingle Owner Pays: Trash Collection Tenant Pays: Cable TV; Electricity; Sewer; Water Patio and Porch Features: Porch Utilities: Electricity Connected Water Source: Public Sewer: Public Sewer Heating: Electric; Heat Pump Cooling: Heat Pump; Central Air
Listing Office: RE/MAX Properties East
Source MLS Verified
Last Updated: November - 26 - 2024
Broker Attribution: 502-762-5896
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