840 E Chestnut St, Louisville, KY 40204

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Building Details:

• Year Built: 1895

840 E Chestnut St is located in Louisville, KY.

This building is great for an owner-occupant, such as a contractor, insurance agent, accountant, lawyer or any small office or retail user who would like to offset the cost of occupancy with additional income from multi-family rentals on second floor.

There is approximately 3,900 square feet of very nice first floor office space, with a small storefront on E. Chestnut. The space has lots of built-in bookcases and cabinetry, nice trim and pocket doors, ceiling fans, a large full kitchen/breakroom, as well as a rollup door and loading dock with storage in the back.

It also has 3 1-bedroom apts on second floor, all presently leased for $460 (approx. 500 sf), $525 (approx. 650 sf.), and $525 (approx. 650 sf), respectively, for a total of $ 1,520 monthly income (for apts. only). Clearly, this income could offset nicely any expense to an owner-occupant using the first floor.

Or, for an investor, the first floor offices have previously been rented for $2,500 net per month, or just under $8 per square foot, (or $7.70 to be exact). If both floors were fully leased, at a total of $4,020 per month, or $48,240 annual gross income.