Prominent Germantown Commercial corner, ZONING leaves options! Successful STR neighbor! Close to Louisville's most beloved restaurants, coffee shops, and local hotspots, 1139 E St. Catherine Street, combined with 1014 & 1016 Schiller Avenue, presents an investment opportunity in one of the city's strongest rental corridors. Held by the same owner for over 20 years, this 1900 3 plex blends historic charm with proven performance. With three separately metered units, in-unit laundry in every unit, and a newer roof plus HVAC updates in the longest-standing apartment, this property is both stable and packed with value-add upside. Two updated units within the past 10yrs ($935 & $975), well below today's Germantown market rates, and one long-term tenant of 20 years sits at $675/month At stabilization, projected market rents of $1, 200-$1, 350 per unit and support estimated property values between $440, 000 and $500, 000+, depending on finishes and cap rate targets. With strong walkability, excellent visibility, and flexible use potential including mixed-use, short-term rentals, or redevelopment into modern urban row-style townhomes, this property is primed for growth and opportunity. Listed at $380, 000, this is one of the rare Germantown multifamily assets offering both current cash flow and meaningful future upside. Full Rent Roll and Pro Forma Financials available upon request.
