24 Unit Workforce Housing Opportunity

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30757836
Property Subtypes: Mid-Rise
Status: Pending/Contingent
Number of Units: 24 Units
Building Size (RSF): 23,184 SF
Gross Building Area: See Agent
Sale Price: $1,560,000
Unit Price: $65,000 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/13/2021

Overview / Comments

Appleton Place is a 24 unit workforce housing opportunity located in South Louisville. Featuring a mix of two and three bedroom units, this property is well located in Louisville's Shively neighborhood just off Dixie Highway. It is situated near many service and manufacturing/logistics based employment opportunities.

The property was constructed in 2000, and contains income restriction requirements for investors. The tenant base is very stable and the property enjoys historically high occupancy and strong collections. Louisville is currently experiencing a shortage of available units to satisfy demand for affordable housing options, and this opportunity presents the chance to cater to a high demand tenant base.

:: 8 3bd/1.5ba units; 16 2bd/1ba units
:: Built ground up in 2000; stable location
:: Very high historical occupancy

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Jefferson
Tax ID/APN: 109200810000
Zoning: R-6 - Residential Multi-Family District

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 19,150 130,635 260,263
Median Age: 37.54 36.04 36.37
Households: 7,970 54,285 108,911
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