$ 200,000

1603 Algonquin Pkwy, Louisville, KY 40210  
  • 0 beds
  • 4 baths
  • 2,900 sqft

1603 Algonquin Pkwy, Louisville, KY 40210  

There are 3 two story 4-plexes for sale at numbers 1601, 1603 and 1605 Algonquin Pkwy. ALL 3 SOLD TOGETHER. See MLS 1415241, 1415171, and 1415183. The price for the 12-plex is $600,000. Each building is 2,900 sq ft. Each 1 bedroom apartment is 725 sq ft, large for this price range and in good condition which is one of the reasons they remain almost 100% occupied.Owner continues to spend considerable effort and money to bring these apartments to their excellent condition. 2015 upgrades and improvements include all gutters repaired or replaced. As the program progresses, the price will increase. As part of the improvement program rents are being raised. Current rents are either $475 or $500. As a tenant paying $425 leaves the rent is raised to $500. All rents will be raised to $600 when new windows are installed.New sewer lines were installed for all 3 buildings some years ago, from buildings to street. All bathrooms have ceramic tile. Some kitchens have ceramic tile, others linoleum. Each building has a full basement and is equipped with coin operated washer and dryer for the tenants. This is an additional revenue stream. All apartments have been painted with good quality paint. Every single room has a ceiling fan, helping tenants keep their utility bills down. Convective central heat.Located at a high visibility intersection of Algonquin Parkway and S 16th Street, Louisville, Kentucky. Close to shops and on the bus line. This is a popular rental area, with a mix of residential homes, apartments and commercial establishments.THESE 3 FOUR-PLEXES ARE SOLD TOGETHER FOR $600,000. NOT SOLD SEPARATELY.

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Year Built
Full Bath
Listing courtesy of Metro 1
Price History
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Date Event Change Price
9/14/2016 Price change $40,000 (25%) $200,000
8/15/2016 Price change $20,000 (14.3%) $160,000
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