10 unit apartment building in downtown Louisville's Saint James Court across from Central Park. The stately building is in excellent condition and essentially a turn-key fully leased building. 6 of the units are 1 bedroom 1 bath units and 4 of the units are studio units. 9 of the units are in the 3 story main house and 1 unit is in the carriage house. 3 parking spots are adjoining the carriage house and then on street parking. The rents are between $695 and $845 monthly. Each unit has separate electric. Heat is provided by a 95% efficiency boiler installed in 2015. Gross annual income is approximately $93,757 with the cap rate of 7.498%. There is a large brick patio in the backyard for the tenants' outdoor entertaining. The basement level provides additional storage and a coined laundry for the tenants. The St. JamesBelgravia Historic District, within Old Louisville, was placed on the National Register of Historic Places in 1972. It comprises St. James Court (north) and the Belgravia Court (south). It was the site of the Southern Exposition, and is bordered to the north by the scenic Central Park, a popular summer destination of Shakespeare in the Park patrons. The area is famous for the St. James Court Art Show that takes place the first weekend of October, and attracts thousands of visitors, artisans, and craftsmen. The Belgravia area features houses inspired by its namesake in London, England, and has no immediate street access, as it is a "walking court" with a green area instead of a street where the main entrances face. It features two important houses: the ConradCaldwell House, and the Pink Palace. This sought after location provides easy access to Downtown Louisville, The University of Louisville and SDF, The Louisville International Airport. Walking distance to several parks, restaurants, UofL, downtown Louisville and access to Bus routes.
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