College Ct Louisville, KY 40203

Located in an opportunity zone in Louisville's Limerick neighborhood, this community is positioned to benefit from increasing property values and rent rates. The property's layout and structure were designed to mimic the cottage appeal of housing in Limerick, Ireland, featuring a central walkway with lawns and mature trees. The community consists of 100 condos housed in 12 brick buildings, most with full concrete basements. The interiors feature dense lath and plaster walls for insulation, fire resistance, and soundproofing, along with concrete floors covered by tile or LVP. Copper flashing is installed on the roofs. Nine of the buildings have new roofs. The Homeowner's Association (HOA) covers management, master condo insurance, water, sewage, drainage, trash, landscaping, grounds-keeping, snow removal, exterior building maintenance, upgrades, and common electric. Water is a common utility paid by the HOA, while other utilities are separately metered. The HVAC systems are individual forced-air systems using hot water. A clubhouse with washer/dryer hookups requires rehabilitation and is not currently in use. A maintenance garage is used for storing lawnmowers. Most of the seller's units have undergone renovations, including flooring replacement with ceramic tile or vinyl planking, HVAC repairs or replacements, water heater replacements, kitchen rebuilds with Formica countertops and durable cabinetry, window mechanism rebuilds, washer and dryer hookups, window repairs or replacements, wall repairs and painting, bathroom re-tiling, and Pex plumbing. The zoning allows for the construction of 176 units on the 34,555 square foot campus, offering the potential to add 76 units. Renderings show potential locations for additional units, either as two 2-story buildings or as one 2-story building and one 6-story building.