12-Unit Multifamily Investment Opportunity – Shively, KY
Prime Value-Add Potential Near Dixie Hwy
🏢 Property Overview:
- Total Units: 12
- Current Occupancy: 9/12 units rented
- Current Rents: $550/month per unit (month-to-month leases)
- Current Monthly Rental Income: $4,950
- Projected Monthly Income (fully rented and renovated): $14,400 at $1200 per unit including water.
- Location: Desirable area near Dixie Hwy, close to shopping centers, restaurants, and commercial corridors
💸 Current Annual Operating Expenses (as provided by seller):
ExpenseAmount Insurance$8,517/year
County Property Taxes$6,672.85/year
City of Shively Taxes$2,497.82/year
Garbage$122.89/month ≈ $1,474.68/year
Lawn Care$90/month ≈ $1,080/year
Water (Louisville Water)Avg. $390/month ≈ $4,680/year
🔹 Total Estimated Operating Expenses: $24,922.35/year
🔧 Investment Highlights:
- Roof and gutters were replaces recently.
- Strong value-add opportunity through rental increases and unit upgrades
- Solid bones and cash flow potential with low vacancy
- All tenants on month-to-month leases, offering flexibility to reposition rents
- Located in a high-demand rental area with easy access to major roads and commercial amenities
📌 Important Notes:
- All financials and property information should be verified by the buyer during due diligence.
- Inspections will be made available for serious buyers only.
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