433 Park Ave, Louisville, KY 40203 | MLS# 1677629

Description

Rare investment opportunity in the heart of the Old Louisville Historic District, directly across from the iconic Olmsted’s Central Park. This charming 4-plex on Park Avenue offers a blend of historic elegance and modern convenience, making it an ideal choice for both future owner-occupants and savvy investors.

Unit 1: Situated on the main floor, this spacious unit boasts 1,714 sqft of living space, featuring beautiful glass front door with transom window, hardwood floors in foyer, a cozy living room with decorative fireplace mantle and French doors leading to the front porch, and a spacious formal dining room (can easily fit a table of 6 or more) with bay window alcove. Two bedrooms, one very large with two closets, and a full bath. Kitchen with ample cabinetry, large pantry/ closet, gas range, oven, refrigerator, and dishwasher. This unit has a door off the foyer with direct access to the basement and main building foyer, and the kitchen has a door to the back exterior. Currently rented for $1,000/month to a loyal 12-year tenant.

Unit 2: Located on the second floor, this fully renovated unit offers 1,003 sqft of modern living space, including a brand-new kitchen and bathroom. Beautiful hardwood flooring throughout most of this unit, a living room with ornate fireplace with marble tile surround and mantle, plus stunning park views through the front windows. Spacious bedroom with two closets and a bay window. Dining nook space in the hallway with bay window leads to the updated bathroom with tiled walk-in shower. Updated kitchen is at the rear of the unit and features white cabinetry, vinyl plank flooring, stainless steel appliances including dishwasher, range, built-in microwave and double door refrigerator. Back door off the kitchen leads out to the back deck. Currently rented for $1,295/month to a 2-year tenant.

Unit 3: This charming 772 sqft studio unit has a carpeted living space with one bath, kitchen at the rear with a range and refrigerator, and a staircase in the living space that leads up to the loft space. Currently rented to a long-term 20-year tenant for $650/month.

Unit 4: Offering 792 sqft of comfortable living space, this unit includes one bedroom and one bathroom. There is a large entryway/foyer that opens into the bathroom, kitchen, living area and bedroom. The spacious eat-in kitchen features laminate flooring, oak cabinetry, bay window nook for table, and a range and refrigerator. The carpeted living room has a brick accent wall and front windows overlooking Central Park. Currently rented for $750/month to a 4-year tenant.

The property also includes an unfinished basement with coin laundry facilities, a fully fenced yard with recent new fence, and off-street parking for four vehicles. The roof and gutters were replaced approximately eight years ago, ensuring peace of mind for future owners. Each unit is separately metered for gas and electric, with independent HVAC systems and water heaters for each one.
This property presents a perfect opportunity to enjoy the vibrant community of Old Louisville while generating rental income, or for an investor looking to expand their portfolio with a well-maintained, income-producing asset. Don’t miss out on this exceptional offering in a prime location!