Investor buys Ali’s old Kentucky home
A Las Vegas real estate investor and fan of Muhammad Ali bought the boxing champ's boyhood Kentucky home.
Louisville Realtor Dave Lambrechts said Tuesday that Las Vegas real estate investor Jared Weiss closed on the property the day before. He said Weiss paid $70,000 for the small white house, with a sagging front porch overhang, in a western Louisville neighborhood made up of mostly neat, modest homes.
"The guy's a huge Ali fan, and that's what kind of spurred this," Lambrechts said.
Weiss did not return calls for comment Tuesday. His office said he had been inundated with calls Tuesday, but he was busy working.
He is listed as the president and CEO of Motion Properties, which buys distressed properties, rehabs them and resells them at a profit.
Weiss told the Kentucky Realtor that he plans on restoring the home to the way it was when Ali lived in it.
The home already has a state historical marker out front recognizing the residence as the home of Ali when he was a child named Cassius Clay. The marker says Ali lived in the mostly black neighborhood with his parents and brother and attended local public schools.
It was at the home where the future boxing champion's "values were instilled," the marker reads.
"Ali's childhood home is really symbolic for the area," Lambrechts said.
Ali and his wife, Lonnie, have multiple residences but do not live in Louisville. They remain linked to the city by the Muhammad Ali Center, a downtown museum and education center that is one of the city's prime tourist attractions. Ali came home for a 70th birthday bash in January.
Lambrechts said Weiss hasn't finished his plans but won't use it as rental property. Among the options being considered are turning the home into a museum or using it for some charitable function.
The house had been under private ownership and was assessed at $23,260, according to the Jefferson County Property Value Administrator's website. Former owner Steve Stephenson had said he was asking $50,000.
Review-Journal reporter Richard Lake contributed to this story.
