37 Multifamily Units - Bardstown Rd & I-264

Multi-Family for Sale
Catylist Listing ID: 30830942
Property Subtypes: Low-Rise/Garden
Number of Units: 37 Units
Building Size (RSF): 24,547 SF
Sale Price: $2,500,000
Unit Price: $67,567.57 Per Unit
Property Use Type: Investment
Building Name: Creekstone Village
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 1/26/2023

Overview / Comments

Proforma gross scheduled rent $347,268 annually. Continuing raising rents to market rental rates will produce a higher NOI. Extensive improvements to the property including the roofs, new windows, unit updates, and market conditions will enhance the ability to continue increasing rents and improving operational efficiencies. Eleven of the 37 units just completed reconstruction due to fire.

Attachments & Media

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Jefferson
Tax ID/APN: 087J00590037
Zoning: R-7 - Residential Multi-Family District
Property Located Between: Bardstown & Newburg off of Goldsmith
Highway Access: Easy access to Watterson Expressway
Area Description: Creekstone Village Apartments is a multifamily opportunity in Louisville, KY, a prosperous, growing city with an MSA population of 1.3M and ranked 43rd among metro cities in the country. Creekstone is located off Goldsmith Lane between the two high traffic corridors of Bardstown and Newburg Roads and with close proximity to I-264 (Watterson Expressway), the most heavily travelled loop around Louisville. These traffic arties combined with public transportation access near Creekstone Village provide unparalleled access to jobs and companies such as GE Appliance Park, UPS, Central Business District, Medical Center and the multitude of big box stores nearby such as a newly built Costco, Target, Lowes and Wal-Mart.
Total Number of Buildings: 2
Number of Stories: 2
Year Built: 1969
Construction/Siding: Brick
Laundry: Shared
Heat Type: Electricity, Natural Gas, Hot Water
Heat Source: Ceiling Units, Heat Pump
Fuel: Gas, Electric
Air Conditioning: Evaporative Cooler
Zoning Description: Zoned multifamily
In Flood Plain?: Yes
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 16,400 117,475 309,452
Median Age: 40.17 38.02 37.98
Households: 7,704 52,868 138,562

Contact

Photograph of Listing Agent

Brian Puryear

PDG Realty KCREA Member
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