1906 Dorothy Ave, Louisville, KY 40205

$1,250,000
Property Type: Multi Family Square Footage: 7,806 Status: Closed
Current Price: $1,250,000 List Date: 8/03/2024 Last Modified: 1/06/2025

Overview

Description

This well maintained eight unit multifamily property is located in an extremely desirable section of The Highlands, steps from Cherokee Park on a quiet corner, and nestled among luxury single family homes - it does not get better. Each unit is quite large, approx. 850 SF, with a bedroom, a potential second bedroom (or sunroom), plus living room, dining room, kitchen and bathroom. There are hardwood floors throughout and charming built in storage, plus detached garage space for each tenant. LG&E is separately metered, with separate HVAC systems. Coin op laundry and additional tenant storage is also available on site. The roof is new from 2018. Rents are below market and there is significant room to increase revenue.

Supplements: This property is an excellent opportunity to invest in a rare, generational asset that will be a gem in any investment portfolio. The current tenants are mostly long term and pay well under-market rents. There is opportunity to increase revenue significantly.

Listing Details MLS# 1667280

General Listing Information

Listing Price
1336000
Property Sub Type
Apartment
HOA Y/N
No
HOA Annual $
0

Location

Street #
1906
Street
Dorothy
St Suffix
Ave
Area
02-Butchertwn/Hghlnds/Germantwn
Sub Area
A
County
Jefferson
State/Province
KY
Zip Code
40205
Subdivision/Condo
NONE
Directions
Cherokee Rd to Spring Dr. to Dorothy
Deed Bk
No
Parcel ID
No
Pg #
No
Block
No
Lot
No

Contract Info

Original List Price
1496000
Disclosure
No

Property Description

SqFt -Total Finished
7806
Above Grade Finished
7806
SqFt - Source
Other
First Floor Laundry
No
Garage Y/N
Yes
Garage Spaces
8
Basement Y/N
Yes
Total Units
8
Year Built
1927
# Parking Spaces
8
Covered Parking
Yes
# of Furnaces
8
# of Water Heaters
3
Separate Meters
Yes
Sold As-Is
No
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
Lot Size Dimensions
No
Security Deposit
No
Age
0
Term/Lease
No

Status Change Info

Contract Acceptance Date
2024-11-24
Sold Date
2025-01-06

More Information

Architectural Style

Traditional
Yes

Sewer

Public Sewer
Yes

Construction

Brick
Yes

Roof

Shingle
Yes

Heating

Forced Air
Yes

Patio and Porch Features

Deck
Yes

Property Features

Architectural Style: Traditional Construction: Brick Roof: Shingle Patio and Porch Features: Deck Sewer: Public Sewer Heating: Forced Air
Listing Office: PRG Commercial Property Advisors
Source MLS Verified
Last Updated: January - 06 - 2025
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