Cherryville Home Rentals | Cherryville Road
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Cherryville Home Rentals Cherryville Road
20 Unit Block of Flats £312,198 (£15,610/Unit) Louisa, KY 41230
Investment Highlights
- Spring Fed Stream.
- Multiple houses, cabins, mobile homes and lots all with their own UTILITIES (minus the duplexes).
- Beautiful Mountain View’s.
Executive Summary
Here’s your chance to acquire your own multi family / multi rental home subdivision, that you could leave as is and bring in cash flow from long term rentals or easily convert the property to short term rentals / vacation rentals. Close to Yatesville lake state park, Paintsville lake state park, Dewey Lake, Red River Gorge, the Hatfield and McCoy trail system and right off the Country Music Highway, in the Tri state area of Ohio, Kentucky and West Virginia.
Developed from the ground up in 1993, Cherryville Manor is a complete holler/neighborhood with varying types of rental units/homes. It could stay rentals or easily be a Campground, RV Park, a BUNCH of AIRBNBs, Hunters Camp, Large Family Compound or your own private oasis/residence, due to its unique land layout and private location, nestled between 2 mountains and only 12 minutes from town with all the amenities.
The property consists of approximately 4 acres of all flat land with your own road, a year long spring fed stream running the length of the property and beautiful mountain views. It’s currently setup as a small subdivision containing multiple houses, apartments, trailers, small homes/cabins and a couple empty lots with all utilities there, totaling over 20 units (10 that are rent ready and 10 needing varying remodeling). Also has several garages/storage buildings on the property.
Everything is all on one deed, units have their own electric meters, water meters and septics. Property is listed as commercial/residential with no code enforcement or the city to worry about so you can do as you please with your property. Taxes are affordable and the property is not in a flood zone. Price is $399,000 but will go up if not sold soon, as there’s now long term tenants and instant cash flow. Please call or text 313-900-5434 if seriously interested in buying, as I can’t keep up with all the emails. Thanks.
Developed from the ground up in 1993, Cherryville Manor is a complete holler/neighborhood with varying types of rental units/homes. It could stay rentals or easily be a Campground, RV Park, a BUNCH of AIRBNBs, Hunters Camp, Large Family Compound or your own private oasis/residence, due to its unique land layout and private location, nestled between 2 mountains and only 12 minutes from town with all the amenities.
The property consists of approximately 4 acres of all flat land with your own road, a year long spring fed stream running the length of the property and beautiful mountain views. It’s currently setup as a small subdivision containing multiple houses, apartments, trailers, small homes/cabins and a couple empty lots with all utilities there, totaling over 20 units (10 that are rent ready and 10 needing varying remodeling). Also has several garages/storage buildings on the property.
Everything is all on one deed, units have their own electric meters, water meters and septics. Property is listed as commercial/residential with no code enforcement or the city to worry about so you can do as you please with your property. Taxes are affordable and the property is not in a flood zone. Price is $399,000 but will go up if not sold soon, as there’s now long term tenants and instant cash flow. Please call or text 313-900-5434 if seriously interested in buying, as I can’t keep up with all the emails. Thanks.
Financial Summary (Actual - 2022) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2022) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Unit Amenities
- Stainless Steel Appliances
Site Amenities
- On-Site Retail
- Community-Wide Wi-Fi
About Cherryville Road , Louisa, KY 41230
This property features duplexes, manufactured housing, single family homes, cabins/small homes, and a variety of multi-family units.
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | - |
| 2+1 | 3 | - | - |
| 3+1 | 2 | - | - |
| 4+1 | 1 | - | - |
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PROPERTY TAXES
| Parcel Number | 110-00-00-004.01 | Total Assessment | £31,298 (2023) |
| Land Assessment | £0 (2023) | Annual Taxes | -£1 (£0.00/sf) |
| Improvements Assessment | £0 (2023) | Tax Year | 2022 |
PROPERTY TAXES
Parcel Number
110-00-00-004.01
Land Assessment
£0 (2023)
Improvements Assessment
£0 (2023)
Total Assessment
£31,298 (2023)
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2022
zoning
| Zoning Code | Commercial & Residential (All units are legal.) |
| Commercial & Residential (All units are legal.) |
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Cherryville Home Rentals | Cherryville Road
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