4315 Southern Parkway, Louisville, KY 40214

Commercial property for lease

• Description
• The Chesser Companies is pleased to present this well maintained and comprehensively renovated 9 unit multifamily opportunity with investment upside ideally located in beautiful and trending Southern Parkway setting. This Beechmont located multifamily asset is comprised of 3 structures and 7 apartment units, 1 single family home, and a 3 car garage, comprised of 9 revenue centers 100% occupied. This property has been expansively renovated throughout, and positioned for cash flow growth and continued value upside. This opportunity is flexibly and uniquely positioned for a value investor or even an owner occupant to capture residual income with a high quality single family home on site.-Renovated Units, Healthy Revenue and More UpsideExisting units are comprised of four one 1BR/1BA apartments comprising of an average of 850 SF, one 2BR/1BA 650 SF apartment, two 1BR/1BA apartments comprising of an average of 600 SF, and one 3BR/1BA Single Family Home comprised of 1,300 SF, with a separately constructed and revenue producing 3 car garage comprised of about 400 SF. On average, the apartments currently rent for $645/unit ($.88/SF) and market rent is estimate to be $725/unit ($1.03/SF). An attractive component to this is the minimal requirement for renovation as a tremendous amount of the heavy lifting has been completed, including complete interior renovations throughout 7 of the 8 dwelling units (cosmetics mechanicals and fixtures) and rehab to all common areas, new roofs on all structures (as of 2019), brand new rear deck installed 2019, significant electrical and plumbing uprades throughout, some new windows, painting, and meticulous landscaping including significant tree removal as well as shrubbery installation.Executive Summary4315 Southern Parkway is a comprehensively renovated, low-risk multifamily asset with attractive quality for highly demanded resident location. Upside in income, appreciation in growing location, with additional value to be added and upside to be captured for new owner. Year 1 8% cap rate, 15% cash on cash.Projected 30% IRR on 5 year hold.
• Exterior Features

• Parking:	Yes
  Parking Spaces:	9
  Parking Type:	Structure, Surface

• Contact info
• Tyler R Chesser

  The Chesser Companies
• Note

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