Prospect Specialty for Sale - E Outlying Jefferson Cnty
PRIME INVESTMENT RIVERFRONT WITH WATER ACCESS PROPERTY — Louisville, KY (Prospect, KY) | No STR Restrictions | $612,000
This Ohio River waterfront property with stairs down to the water, comes with a Conditional Use Permit (CUP) — required for short-term rentals in Louisville — that transfers directly with ownership. Unlike standard Louisville STR permits, this CUP allows for full-time short-term rental use with NO requirement for the owner to live in the home for six months out of the year. Operate immediately from day one with zero regulatory hurdles.
INVESTMENT HIGHLIGHTS:
• Prior owner verified STR income: ~$70,000/year operating (shown in photos)
• Demonstrated nightly rate: $400+/night
• Comparable neighbor same street: $400+/night, booked weekly
• Current MTR income in place: $3,850/month - Transfer to new owner (May 4th, 2025 - July 5th, 2025/August 5th)
Current upcoming STR (transfer to new owner):
May 1-3, 2026 Derby weekend: $3005.84 (Payout- $2043.68)
Sept 16-20, 2026 Louder than Life: $2425.49 (Payout - $1662.98)
Sept 23-28, 2026 Bourbon and Beyond: $4033.07 (Payout - $2763.61)
• No HOA — complete operational flexibility
• Owner occupied a majority time of ownership therefore no full year income to report. Potential to make over $80,000 conservatively and over $100,000 with good advertising.
THE CUP ADVANTAGE:
Municipalities across the country are restricting and banning new STR permits. This CUP is already in place, fully transferable, and requires no owner-occupancy — an extraordinarily rare combination in today's regulatory environment.
THE PROPERTY:
100 feet of Ohio River frontage with stairs to the water and dock-building rights. 2,880 sq ft across two fully finished levels. Expansive deck with 180-degree river views. Walkout game room with projector, bar setup, and fireplace. Multi-level patio, fire pit, and fixer upper pizza oven. 3 bedrooms / 2 full baths / 2 fireplaces / 2 driveways. Built 1934 — character that drives premium guest reviews and repeat bookings.
PERFECT FOR:
• Full-time STR / Airbnb / VRBO investment
• Kentucky Derby parties and week-long rentals
• Small weddings and private events
• River hangouts and bourbon trail home base
• Build a dock and bring a boat
LOCATION:
13 minutes from downtown Louisville. 15 miles from Churchill Downs. Adjacent to Kentucky bourbon trail distilleries. Year-round demand from Chicago, Nashville, Cincinnati, Indianapolis, and Atlanta.
Income documentation and CUP transfer confirmation available to qualified buyers upon request.
Listed by Martha Redman • Semonin Realtors • (502) 264-1601 • MLS# 1709335
