5964 Timber Ridge Drive Prospect, KY 40059
Price Reduction
3105 Springfield Louisville, KY
$ 614,000
Property Attributes
  • MLS#1525825
  • TypeMulti-Family
  • CityLouisville
  • AreaAuburndale-Fairdale-IroquoisPrk-Shively
  • Zip40214
  • StyleApartment
  • Price$ 614,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage10290
Listing Provided Courtesy Of:
Weichert Realtors - Abg Properties
Property Description

Amazing Real Estate Investment opportunity! If you are interested in investing in real estate, both apartment buildings offer more than $90,000 income per year and each has good rental history as well. Rent for each unit has been between $650 to $700 with 90 -100% occupancy. Cap rate is around 9% and return of investment within 5 years would be around 18%. There is one section 8 unit and 4 tenants have been there more than 8 years. Each building has 6 units, each with their own deed. Each unit also has a separate water meter, gas, and common area electric meter. There is a total of 12 units, 6 in each building. Each unit is a 2-bedroom, 1 bathroom, and each has a laundry in the unit. Most units have hardwood flooring and all units have been updated in last 3 years. Each water heater and HVAC systems have been replaced, maintained and serviced as needed. Windows were replaced within the last 5 years and both roofs are less than 5 years old. There is ample parking space around both buildings.

Elementary School Middle School High School
Unknown Elementary School Unknown Middle School Unknown High School
Price History
3/4/2019 Listed $699,000
3/20/2019 2% - $690,000
4/2/2019 6% - $650,000
4/24/2019 3% - $636,000
5/28/2019 2% - $626,000
6/28/2019 2% - $614,000

General Features

Age 47.00
Area 05-Auburndale/Fairdale/IroquoisPrk/Shively
Construction Brick
Disclosure Yes
Energy Central Air, Forced Air Heat
Listing Status Active
Owner Pays Trash Removal
Property Sub Type Apartment
Property Type B
Subdivision NONE
Tenant Pays Sewer, Water
Term/Lease Lease
Year Built 1972

Interior Features

Above Grade Finished 6860.00
Below Grade Finished 3430.00
Total Units 6.0000
Utilities City Sewer, City Water, County Water, Electricity Connected, Fuel:Natural

Exterior Features

Public Remarks Amazing Real Estate Investment opportunity! If you are interested in investing in real estate, both apartment buildings offer more than $90
3rd Level: Range 2
Covered Parking No
Exterior See Remarks
Lot 35
Number of Parking Spaces 6.0
Roof Asphalt


  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 40214

AVG $280K
AVG 28
Year Built
AVG 1932
AVG 45
Data Provided by Walkscore ® not using MLS data

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