943 Central Ave, Louisville, KY 40208

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Tyler R.

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Building Details:

• Year Built: 1925

943 Central Ave is amulti-family property for lease in Louisville, KY.

Updated four-plex consisting of all 1BR/1BA units with a detached 3 vehicle garage and one functioning overhead door. All four apartment units have been recently updated with new bathrooms, updated kitchens, all new windows throughout, painted walls and replaced floors. Insulation recently blown in to the roof deck to improve heating/cooling efficiency, new privacy fence recently installed in rear yard. Water main recently replaced. Plumbing updated to pex recently. Tenants pay LG&E (separately metered), owner pays water. Financials solid with upside at an existing attractive cash flow and yield.

Rehab Details:
Updated windows
Installed blown in insulation.
Replaced water main shut off valve and additional piping
Drained basement area and repaired sump pump.

● Unit 1
Repaired leak in ceiling

● Unit 2
Redid drywall throughout bathroom and kitchen.
Repaired rotten load bearing wall.
Replaced flooring under wall and through whole bathroom
Rebuilt whole bathroom
Installed all new kitchen cabinets.
Repaired back door.
Painted throughout
Updated all plumbing to pex
New stove
New refrigerator

● Unit 3
Replaced bathtub and flooring in bathroom.
Replaced kitchen cabinets
Pulled up old carpet and painted floors
Repaired balcony floor
Moved water heat to attic with drain lines and flood pans.
Repaired entry doors

● Unit 4
Repaired balcony floor
Moved water heat to attic with drain lines and flood pans.

Trailing 12 Financials:
Gross Income: $22,159
Gross Expenses: $7,668
NOI: $14,491
Cap Rate: 9.4%

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