3172 S 3rd St Louisville, KY 40214

Rooming House located across from Churchill Downs Stable Gate!

OFFERED AT $199,000

Wonderful opportunity to purchase an income producing rooming house. Occupied, do not disturb... Read More >

Wonderful opportunity to purchase an income producing rooming house. Occupied, do not disturb tenants. This properly is wonderfully located DIRECTLY ACROSS FROM THE STABLE GATE ENTRANCE FROM CHURCHILL DOWNS. This property is in need of some rehab, but affords someone a wonderful opportunity to create traditional rental units, or continue the use that has been in place for decades. The first floor unit offers a great opportunity for owner occupant, or you could consider having the current manager on site continue services. The first floor unit features living room, two bedrooms, two baths, spacious kitchen with dining area, and access to the enclosed front porch. Additionally the first floor access the upper floors and lower level by secured doors.

The second floor features four bedrooms and a bath with direct access to the front porch. The third floor features two bedrooms, a bath, and additional storage/closet areas. There is an efficiency unit accessible from the rear stairs that is currently on a month-to-month lease with full bath and kitchenette. The basement features five rooms (used for sleeping), bathroom, and minimal kitchen area directly accessible to exterior rear. Please remember this has been used as a rooming house and the rooms mentioned on many of these levels, with the exception of the first floor and efficiency, are on a daily or weekly rate. The property also features a two car detached garage. 

Rooming House "Sleeping Rooms" Lower level and 2nd Floor. 1st floor occupied by manage at no fee. 3rd floor mothballed (has 2 sleeping rooms and bath that needs work).

Manager states the following:

LL Rooms - 5 rooms (4) @ 100/week (1) @ 80/week = 480 week potential - 1920/ monthly potential

Efficiency - 440/month kitchen with full bath, utilities included = 440/month

1st Floor - manager occupied at no fee - 2 bedrooms, 2 baths, living room and large eat in kitchen.

2nd Fl - 4 rooms (2) @ 100/week (2) @ 80/week = 360/week - 1440/month Commode room/1 bath

3rd Floor - 2 rooms (mothballed at covid) with bath needs some work plus additional storage

11 "sleeping" rooms total rentable excluding 1st floor and efficiency.

Potential income before utilities 3800 monthly - not including 3rd floor and manager 1st floor.

LG&E $6117 water $2153 last years utility costs.

For all other questions please contact the listing agent.

For all other questions please contact the listing agents, Martin Crane at 502-592-7868, or, Malcolm Crane at 502-550-4495. Schedule your showing today!


  • Located across from Churchill Downs Stable Gate
  • Income Producing Property
  • Two Car Garage
  • Sidewalk
  • Basement
  • Exterior Access to All Levels

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