1014 Schiller Ave

Description

Germantown - Commercial corner, ZONING leaves options! Successful STR neighbor! Close to Louisville's most beloved restaurants, coffee shops, and local hotspots, 1139 E St. Catherine Street, combined with 1014 & 1016 Schiller Avenue, presents an investment opportunity in one of the city's strongest rental corridors. Held by the same owner for over 20 years, this 3 plex blends historic charm with proven performance. With three separately metered units, in-unit laundry in every unit, and a newer roof plus HVAC updates in the longest-standing apartment, this property is both stable and packed with value-add upside. Two updated units within the past 10yrs are recently vacant and freshly painted. Owner can place tenants or sell vacant, if owner occupied | house hack is desired. Rents have been well below today's Germantown market rates, and one long-term tenant of 20 years is still occupying the property. At stabilization, projected market rents of $1,200-$1,350 per unit and support estimated property values between $440,000 and $500,000+, depending on finishes and cap rate targets. With strong walkability, excellent visibility, and flexible use potential including mixed-use, short-term rentals, or redevelopment into modern urban row-style townhomes, this property is primed for growth and opportunity. This is one of the rare Germantown multifamily assets offering both current cash flow and meaningful future upside. Full Rent Roll and Pro Forma Financials available upon request.