2101 S Preston

Description

This circa 1925 bungalow conversation for use as a duplex, offers incredible opportunity for owner occupant. Apartment A includes a 782 square foot two bedroom one full bathroom dwelling comprised of the entire basement which rents currently for $850 monthly on a month to month lease. Apartment B includes a 1134 square foot three bedroom two full bath dwelling comprised of the 1st and 2nd floors leased through April of 2023 for $1550 monthly. The shared laundry is located within the attached one car garage. This property is located on the eastern side of South Preston Street directly facing ZANZABAR and is adjacent to the newly completed Swiss Village. Conveniently accessible to the University of Louisville and Eastern Parkway corridor.The property is zoned C-1 and includes short term rental (STR | AirBNB) as use by right (no CUP necessary for non owner occupant). This property was the first owner occupant multifamily income producing investment for the current owner and his enthusiasm and investment property portfolio grew from here. This would be an excellent asset for the first-time landlord. Under preferential financing terms the property should immediately produce both net operating income (profit) as well as generate positive cash flow under an owner-occupant of Apartment A. Please note all showings will require a 48 hour curtesy notice to the current tenants.