It is with great pleasure we announce the completed sale of 1610 Ellwood! 🎉 🍾
Want to know how we did it??
Located in the Highlands neighborhood of Louisville, KY, Ellwood was loved by the family of the previous owner since 1940. In 2019 we began the process of converting the property to an Airbnb to assist with the expenses of the aging owner. However, the current market conditions made it more advantageous for the owner to sell rather than continue STR operations.
Working with an agreeable seller gives a Realtor maximum ability to excel. Our approach for this sale was to position it as an income-property and appeal to current STR operators. We prepared the property for sale by completing a pre-inspection and handling many repairs and appearance improvements, including exterior cleaning and painting. (See pics in this post!)
Because of our positioning and the preparations made to the property we were successful in receiving a strong all cash offer within 2 days of being on the market. This offer also waived the appraisal and inspection contingencies, due to having the results of the pre-inspection. This led to a very short closing window, which pleased both the buyer and seller.
Today, the new operator is able to step in and begin immediate operation of the property as an STR.
We are honored to have been involved in this project from the beginning. As short-term rental experts, we furnished the property and handled the management and leasing operations. We also handled the conditional use permit (CUP) process for legal STR operation. This involved working with the city, holding neighborhood meetings, and pleading our case in front of the Board of Zoning Adjustments (BOZA) in order to secure the permit.
We are grateful for the opportunities this property afforded to our company and team. And we are forever appreciative to the previous owners for their trust and partnership. We wish the new owners continued success and hope they love the property as much as we did.