828 Longfield Ave, Louisville, KY 40215 | MLS# 1683080

Description

This property is a rare investment opportunity for short-term rental (STR) enthusiasts, offering a Conditional Use Permit (CUP) for STR (airbnb) operations and an Airdna-projected annual revenue of $32,900 with an impressive CAP rate of 11.29%, including management. Its prime location near Churchill Downs makes it ideal for attracting Derby visitors and Louisville tourists, ensuring strong returns in the thriving local rental market. Despite never having operated as an Airbnb, this property is perfectly positioned to deliver immediate value to investors looking to enter the STR space at a low entry point.

The home has undergone extensive updates, including new windows and blinds, a remodeled bathroom, refinished floors, and new mechanical systems, all detailed in a comprehensive list available upon request. A stunning mural in the living room depicts a Derby scene, adding unique charm that will appeal to guests. The layout features two bedrooms and a full bath on the first floor, while the second floor offers potential for a third bedroom despite non-conforming ceiling height. The basement has sufficient ceiling height to finish a portion into an additional room or bourbon bar, further enhancing guest appeal.

The kitchen is primed for a cost-effective upgrade, with a wall that could easily be converted into a breakfast bar. Outside, the detached garagecurrently not usable for parkingoffers potential for transformation into an outdoor space such as a bourbon bar. The adjacent vacant lot provides added privacy, making this property even more attractive to renters. Guests can enjoy views of horses in the backside stables from the porch, creating an authentic Louisville experience.

With its combination of STR-ready features, prime location near Churchill Downs, and significant revenue potential, this property is an exceptional opportunity for investors looking to capitalize on Louisville’s vibrant tourism market.