Cherryville Road - Apartments FOR SALE


Louisa, KY 41230
$399,000 USD
313-900-5434
Cherryville Road, Louisa, KY for Sale
$399,000 USD
Apartments - FOR SALE
1/81
null | Request Cap Rate

Cherryville Road
Louisa, KY 41230


HIGHLIGHTS

  • Spring Fed Stream.
  • Beautiful Mountain View’s.
  • Multiple houses, cabins, mobile homes and lots all with their own UTILITIES (minus the duplexes).

OVERVIEW

Here’s your chance to acquire your own multi family / multi rental home subdivision, that you could leave as is and bring in cash flow from long term rentals or easily convert the property to short term rentals / vacation rentals. Close to Yatesville lake state park, Paintsville lake state park, Dewey Lake, Red River Gorge, the Hatfield and McCoy trail system and right off the Country Music Highway, in the Tri state area of Ohio, Kentucky and West Virginia. Developed from the ground up in 1993, Cherryville Manor is a complete holler/neighborhood with varying types of rental units/homes. It could stay rentals or easily be a Campground, RV Park, a BUNCH of AIRBNBs, Hunters Camp, Large Family Compound or your own private oasis/residence, due to its unique land layout and private location, nestled between 2 mountains and only 12 minutes from town with all the amenities. The property consists of approximately 4 acres of all flat land with your own road, a year long spring fed stream running the length of the property and beautiful mountain views. It’s currently setup as a small subdivision containing multiple houses, apartments, trailers, small homes/cabins and a couple empty lots with all utilities there, totaling over 20 units (10 that are rent ready and 10 needing varying remodeling). Also has several garages/storage buildings on the property. Everything is all on one deed, units have their own electric meters, water meters and septics. Property is listed as commercial/residential with no code enforcement or the city to worry about so you can do as you please with your property. Taxes are affordable and the property is not in a flood zone. Please call or text 313-900-5964 if seriously interested in buying. Asking $399k. There are no current tenants at this time and lots of interested renters.

FOR SALE DETAILS

PRICE

$399,000 USD

PRICE/SF

$27 USD /SF

# OF UNITS

20

PRICE/UNIT

$19,950

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Cherryville Home Rentals

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential, Manufactured Housing/Mobile Housing, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1993

PARKING SPACES

25

LAND DETAILS

LAND ACRES

4 AC

LAND SF

174,240 SF

ZONING

Commercial & Residential

APN/PARCEL ID

110-00-00-004.00 L003,110-00-00-004.01

ASK ABOUT THIS PROPERTY

Branden BakerBaker & Son’sMore Info
313-900-5434

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Branden BakerBaker & Son’sMore Info
313-900-5434

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.