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: |
$2,395,000 |
| Unit Price: |
$64,729.73 Per Unit |
| Property Use Type: |
Investment |
| Building Name: |
Creekstone Village |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
Undisclosed |
| Last Updated: |
7/26/2024 |
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.
|
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 |
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 |
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The information presented herein is provided as is, without warranty of any kind.
Neither Kentucky Commercial Real Estate Alliance nor
Moody's assume any liability for errors or omissions.
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