Description
**Prime Investment Opportunity in the Heart of Downtown London!** Expand your investment portfolio with this income-producing property featuring **5 rental units across 3 separate buildings**, currently zoned commercial and generating **$3,950 in monthly rental income ($47,400 annually)**! The property consists of two standalone homes, identified as House A and House B, along with a third building containing three additional rental units. **House A features a new metal roof**, and both homes offer basements with potential for conversion into additional efficiency apartments, subject to necessary approvals and permitting. Building 3 features two upstairs apartments, each offering 1 bedroom and 1 bathroom, along with a third rental unit on the lower level. **Apartment 1 has been renovated**, adding to the property's appeal. With a history of minimal vacancy and strong rental demand, this established investment offers consistent income potential. Tenants pay their own electric and water, helping minimize operating expenses. Situated in a convenient downtown location near local businesses, shopping, dining, and amenities, this property offers an attractive combination of **immediate rental income, multiple buildings, and potential for future expansion**. Whether you're growing your investment portfolio or looking for an established multifamily rental property, this downtown London opportunity is one you won't want to miss!
Details
| MLS # | 26028525 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Active |
| Year | 1947 |
| Days On Site | 23 |
| Listing Provided By | Keller Williams Legacy Group | Lindsey A Wagers |
Features
| Bed(s) | 8 |
|---|---|
| Bath(s) | 5 Total |
| SQ Feet | 4,905 |
| Units | 5 |
| Building(s) | 3 |
| Zoning | C-1 |
| Acreage | 0.12 |
Interior
| Cooling | Heat Pump |
|---|---|
| Heating | Heat Pump |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
Exterior
| Roof | Metal, Shingle |
|---|
Parking
| Attached Garage Yes / No | No |
|---|---|
| Parking Features | On Site, Paved |
Utilities
| Utilities | Electricity Connected, Sewer Connected, Water Connected |
|---|
Area Information
| State | KY |
|---|---|
| County | Laurel |
| City | London |
| Zip Code | 40741 |
| Area | 044 Laurel County |
| Subarea | Laurel County |
| Community Name | City Limits |
| School District | Laurel County |
| Elementary School | London |
| High School | North Laurel |
| Listing VS Median (in City Limits) | |
Price: $385,000 low | high Med: $220,000 sqft: 4,905 low | high Med: 2,655 $ / sqft: $78 low | high Med: $83 On site: 23 low | high Med: 168 | |
Market Activity 40741
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Learn More About This Property
| State | KY |
|---|---|
| County | Laurel |
| City | London |
| Zip Code | 40741 |
| Area | 044 Laurel County |
| Subarea | Laurel County |
| Community Name | City Limits |
| School District | Laurel County |
| Elementary School | London |
| High School | North Laurel |
| Listing VS Median (in City Limits) | |
Price: $385,000 low | high Med: $220,000 sqft: 4,905 low | high Med: 2,655 $ / sqft: $78 low | high Med: $83 On site: 23 low | high Med: 168 | |