East End Multifamily Investment

Multi-Family for Sale
Catylist Listing ID: 30622300
Property Subtypes: Low-Rise/Garden
Number of Units: 9 Units
Building Size (RSF): 8,883 SF
Gross Building Area: See Agent
Sale Price: $105,000 - 919,000
Unit Price: $11,666.67 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/1/2020

Overview / Comments

This unique, multifamily investment opportunity is located within the Shelby Crossings condominium development off Shelbyville Road in East Louisville. It is comprised of nine fully leased condo units that are 100% occupied. The development was renovated approximately 10 years ago, and most units are owned by the residents. These units are all rented and cater to IT workers who are employed by large corporations in Louisville. Residents enjoy access to a clubhouse, pool, gym, and tennis courts.

This opportunity will require less management than a typical apartment investment, as the condo association maintains the roofs and exterior, and also pays gas and water. An investor will enjoy steady yield with a quality tenant base and could also realize a second exit strategy of selling units off individually to homeowners over time.

-9 2br/2ba units; tenant pays electric; condo fee covers water/gas

-Fully rented investment with less than typical management requirements

-Strong, steady tenant base

-Located in high demand East End location

-Owner will sell any combination of one to nine units

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Jefferson
Tax ID/APN: 160400010000
Zoning: R-5A - Residential Multi-Family District

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,290 78,894 206,907
Median Age: 43.68 41.36 40.89
Households: 5,611 34,901 88,373
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