Multi-Family Space For Lease @ 2601 W Chestnut St

This value add investment opportunity at 2601 W. Chestnut Street will sell to the highest bidder above $145,000 at our online auction which runs form April 13th - April 15th, 2021. Visit svnAuctions.bidwrangler.com to register.
Property is approved for 4 units but with proper zoning it could be approved for 11+units.
Property located in the Enterprise Zone
Two open house dates are available. The first will be held on Thursday, April 1st from noon till 1pm and the second will be on Sunday, April 4th from 1pm till 2 pm. Call Bill Menish with any questions at (502) 939-0399 or email to bill.menish@svn.com.

Again, this property is currently zoned for four apartments, but with improved zoning there could be there are eight studio apartments, two one bedroom apartments, and one three bedroom and two bath apartment for a total of eleven apartments.

(Below are notes from the owner about the potential rental income if the new buyer rezoned the property for more than 4 units. SVN Menish Commercial Real Estate does not warrant the following information.)

The 8 studios could rent at $500 monthly and 2 one BR at $600 Monthly, a 3 BR 2 bath at $750 monthly. That is a potential $6,000 monthly before the 2nd and 3rd floor and Office rentals.
If they are zoned for 4 more apartments and office, that will bring another $3,000.00 monthly bringing the total to $9000.00 monthly.
The electricity for the entire building tends to be around $1200 monthly and the water around $900 monthly.
Taxes are around $2000 a year. This space offers accomodations for: midrise.