1314 Highland Ave

Description

The Highlands does not need much of an introduction to Louisville investors. The University of Louisville, Bellarmine University, and Spalding University sit within the corridor's draw radius. Bardstown Road's restaurant and nightlife district runs parallel. Cherokee Park is blocks away. This 3,781-square-foot tri-plex is positioned inside that demand base, with the scale and architectural character that attract and hold qualified tenants. The income structure is straightforward. Two two-bedroom, one-bath units and one one-bedroom, one-bath unit combine for five bedrooms and three baths across 3,781 square feet. Two units are currently occupied, delivering cash flow at closing. The third unit represents immediate upside for an investor ready to bring it online at current market rents. Expense management is structurally favorable. Tenants pay their own electric. Landlord utility obligations are limited to water, gas, and common-area costs. Three off-street parking spaces accessed from the rear alley address one of the most consistent pain points in urban Louisville rentals and meaningfully widen the qualified applicant pool. The pet policy, up to two animals per unit with a monthly fee, generates supplemental income that compounds quietly over time. Retention-driving amenities are in place. First and second floor units have laundry hookups, a premium feature in this segment that narrows vacancy and narrows it further each lease cycle. A dedicated tenant storage area in the basement solves a friction point that competing units without it cannot. Window air conditioning units convey. Original hardwood floors and soaring ceilings throughout the building deliver a rental aesthetic that photographs well, attracts quality applicants, and produces a measurably different showing experience than a renovated box from the same era. The fenced rear yard, 3 parking spaces off the alley, and the building's Victorian presence on one of Louisville's most photographed residential streets combine to create a product that is genuinely difficult to replicate at any price point.