Attention Investors ! ! This is an incredible opportunity to purchase a one of a kind Old Louisville apartment building that was built at the turn of the century as luxury units in the center of Historic Old Louisville. ''The Magnolia'' consists of 12 spacious units with hardwood flooring, decks and balconies, original built-ins, tall beamed ceilings, pocket doors, natural woodwork and loads of charm & character. Consisting of 6 - three bedroom units with separate living & dining rooms, 3 - four bedroom units with separate living & dining rooms and 3 - two bedroom units with large living room and dining area combination. All units have spacious kitchens, many with the original butlers pantry still in tact. The total above grade sq. ft. of this beautiful solid brick structure is 16,778 Sq. Ft. and there is a full 5,500 Sq. Ft. basement with large windows. Much exterior updating has recently been done including new guttering, soffit and corbel rebuilt, 2 year young boiler (Weil McClain), re-roofing of entire 4' perimeter around building in progress. Many nicely updated units. Some work still in progress. See attached rent roll for current rents, occupied units, units under construction, etc. This could possibly be turned into an Urban Condominium Oasis with proper zoning approval. Separate gas and electric meters for each unit. Seller pays approx. $962 per month LG&E and $300 per month water/sewer. A newer fast recapture water heater has also been installed producing over 100 gallons of hot water per hour. Newest rents are $1100 for 4 BR units, $850 for 3 BR units, $750 for 2 BR units.
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