AGENTS-READ THE COMMENTS & AGENT NOTES THOROUGHLY (read them twice if needed)...then call either me or Kate with any questions...these instructions are VERY SPECIFIC. Seller WILL NOT ACCEPT an FHA OR VA LOAN. This is a functioning AirBnB. Property is being sold FULLY FURNISHED - down to the silverware - and no, we will not remove the furniture or items in the units. IN OLD LOUISVILLE, AIRBNBs CAN ONLY BE LEASED FOR 30 DAYS OR MORE. Three fabulously decorated and beautifully maintained units grace this wonderful property. Our current owner is an interior designer & stager - the furniture & fixtures are elegant & meticulously themed. The BUNGALOW (unit 1) is a 1st fl unit with front porch and rear yard access. This unit sleeps 7 w/a queen bed, full bed, twin bed and pull out sofa sleeper & has 1 bath. The STUDIO (unit 2) is an ultra-chic L-shaped studio that sleeps 4 with a queen bed and pull out sofa sleeper & has 1 bath. The PADDOCK (unit 3) is a 2nd fl unit that sleeps 4 with a full bed and pull out sofa sleeper & has 1 bath. Each unit has a refrigerator, range & microwave. The first floor unit also has a dishwasher & on-site laundry. The roof is new as of 2016 and includes an ice shield and a 10-year warranty through Lyons Roofing. The HVAC on the 1st floor is new as of 2016 and has still has 9 years on the parts warranty. All units have NEST thermostats. A new fence is being put up in the rear of the property. The turn-key property manager/host takes 30% and is willing to stay if the new owners wish to keep the property as an Airbnb. The SELLERS DISCLOSURE OF PROPERTY CONDITION details the updates/upgrades made and has an inventory of all items that remain with the property in "as is" condition. Up until 10/1/2017, the property could be leased short-term (rules changed at the end of 10/2017 to the long-term rules). Until that time, the building leased for $80 per night for the Studio and $140 per night for the Paddock & the Bungalow...these were "regular" nights and weekends. Obviously, for Derby, Ironman, St James, Bourbon Barrel and other "special" occasions, the prices went up. There was also a 3 night minimum for both regular and "special" occasions. Under the "short-term" scenario, the best approximations for numbers was an estimated $7000-$8000 per mo in income (depending on how many "special" occasions there were in a month) minus approximately $800 in utilities including electric, gas, water, cable & internet and minus approximately $200 per mo for upkeep, maint, cleaning & grounds. This DOES NOT include the 30% for the host (marketing, management of cleaners, check in/check out and guest services), which comes off the top. If one of the units is not leased, it can be shown immediately; however (READ THIS), if a unit is leased, it will require a 48 hour showing notice/posted and permission from the resident to show plus the listing agent MUST be present to show - there are no exceptions. "Leases" survive the closing. Property is sold AS IS/WHERE IS. Seller will make no repairs. Please...no tire kickers or curiosity seekers...if you have a bonafide buyer with a viable interest, we're happy to show the building. Please advise your buyer NOT to look in the windows or knock on the doors. This is a working establishment and is occupied. Please direct any questions to either Louise or Kate.
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