1630 S 2nd St - Apartments FOR SALE


Louisville, KY 40208- Old Louisville
$3,675,000 USD
502-384-4991
1630 S 2nd St, Louisville, KY for Sale
$3,675,000 USD
Apartments - FOR SALE
1/37
null | Request Cap Rate

1630 S 2nd St
Louisville, KY 40208
Old Louisville


HIGHLIGHTS

  • 24-unit, individually deeded condominium portfolio in prime Louisville location.
  • Unit mix includes 14 one-bedroom and 10 two-bedroom residences with private patios or balconies.
  • Secure gated community with landscaped courtyard and full brick perimeter wall.
  • Individually metered utilities; tenants pay electric and gas, water prorated.
  • Dedicated off-street parking and laundry hookups in every unit.
  • Minutes from UofL, Churchill Downs, Downtown, and I-65 access.

OVERVIEW

24 Individually Deeded Condominiums – Rare Trophy Asset This is an exceptional opportunity to acquire a unique 24-unit, individually deeded condominium portfolio in one of Louisville’s most desirable neighborhoods. With a proven history of long-term ownership and self-management, this property offers strong cash flow and significant upside for rental income growth. The unit mix includes 14 spacious one-bedroom, one-bath residences averaging 900 square feet and 10 two-bedroom, one-bath residences averaging 1,200 square feet. Each unit features hardwood and tile flooring, generous closet space, and private outdoor living areas—upper-level condos boast two balconies, while lower-level units include private patios. The property is designed for efficiency and tenant convenience. All units are individually metered, with tenants responsible for electric and gas, and water costs prorated back at $25 per month. Each condo is equipped with its own furnace, air conditioning unit, and water heater, ensuring low maintenance and predictable operating expenses. Additional features include laundry hookups in every unit, double-pane windows, and central heating and air. The secure gated community is enhanced by a landscaped courtyard and a full brick perimeter wall, creating a private and attractive environment for residents. Dedicated off-street parking adds further appeal. Strategically located directly across from Manuel High School and just two blocks from UofL Cardinal Towne, this property offers unmatched proximity to Churchill Downs, Downtown Louisville, and seamless access to I-65. This rare trophy asset combines location, quality, and long-term stability, making it an ideal acquisition for investors seeking a high-performing, low-maintenance property in a thriving market.

FOR SALE DETAILS

PRICE

$3,675,000 USD

PRICE/SF

$173 USD /SF

# OF UNITS

24

PRICE/UNIT

$153,125

CAP RATE

Request Cap Rate

% LEASED

92%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Minerva Court Condominums

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1983

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.88 AC

LAND SF

38,333 SF

ZONING

TNZD

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

John RendeiroColumn RealtyMore Info
502-384-4991

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

John RendeiroColumn RealtyMore Info
502-384-4991

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