1239 Schiller, Louisville, KY 40204

This Germantown property features three units and has been successfully managed as an owner-occupied, three unit Airbnb for the past few years with high occupancy, good income, fantastic reviews and reputation but it also offers a buyer significant upside in the current rental rates. Even better, it comes with an additional lot zoned R-6, which could be utilized for additional multi-family unit construction! The owners have not needed a Cup as it has been their primary residence, but are working with Metro now to obtain a Cup, giving a new owner the flexibility in choosing the leasing structure. The property also has potential for an owner to convert back to a single-family residence, or long term lease all the units. The furniture/ contents is all negotiable. The property backs up to Beargrass Creek offering beautiful green views, a firepit area and great privacy and entertainment opportunities for your guests. A one car garage with storage is located behind the building and could also accommodate additional units on the 2nd floor. Endless potential! The basement level is mostly finished with windows, has common laundry and an owner's storage room. Current rates appear to be lower than the competition and because the property supports a good occupancy record, rates can easily be increased to accommodate demand.Unit Potential Info:1st floor: 2 Bedrooms/ 1 Bath with full kitchen2nd floor: 1 Bedroom/ 1 Bath but configured with 2 sleeping areas. Not currently configured with full kitchen but had one prior to ownership and all utilities were capped. Owner willing to build a full kitchen back in with acceptable contract.3rd floor: 1 Bedroom/ 1 Bath, full kitchen (however, bedroom cannot be considered as a true bedroom)It is noted the property is in the 100-year floodplain; however, the property has never flooded since ownership.This property is booked out and showings mostly available on Mondays and Tuesdays. However, must be requested and approved with the listing agent

1239 Schiller is a multi family-home located in Jefferson, the 40204 ZIP Code, and the Shelby Traditional Academy, Jefferson County Traditional Middle School, and Seneca High School attendance zones.