Oak Park Apartments

Multi-Family for Sale
Catylist Listing ID: 30872297
Property Subtypes: Low-Rise/Garden
Number of Units: 18 Units
Building Size (RSF): 12,524 SF
Gross Land Area: 0.57 Acres
Sale Price: $1,399,000
Unit Price: $77,722.22 Per Unit
Property Use Type: Investment
Building Name: Oak Park Apartments
Usable Size (USF): 12,524 SF
Sale Terms: Cash to Seller
Cap Rate: 8.52%
Average Occupancy Rate: 100
Last Updated: 5/22/2024

Overview / Comments

Well-positioned working-class apartments consisting of 18 units, 10 one-bedroom and 8 two-bedroom units. The property has undergone many recent updates and is poised for strong growth. New Improvements include windows, sidewalks, staircases, flooring, bathrooms, and kitchens in most units. The roof is 2019. This property is located on the south side of Louisville in a desirable neighborhood known as Pleasure Ridge Park. The area features a vibrant business community and is conveniently located to many of Louisville's industrial and business parks.
One bedroom = 646 sq' / 2 bedroom = 757 sq' approximately.

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Additional Details

Nearest MSA: Louisville/Jefferson County
County: Jefferson
Tax ID/APN: 111200300000
Zoning: C-1 - Commercial District
Percent Occupied: 100%
Property Located Between: Cofer Ave and Paramount Dr off of Dixie Highway
Highway Access: easy access to either I-264 or I-265 which lead directly to I-65, I-71 and I-64
Airports: Louisville Intl.
Site Description: Level lot with curb side parking.
Area Description: Pleasure Ridge Park is a well-established suburb of Louisville with a strong community.
Total Number of Buildings: 2
Property Condition: Average
Number of Stories: 2
Year Built: 1968
Year Renovated: 2024
Roof Type: Gable
Construction/Siding: Brick
Exterior Description: Low-maintenance, two-story, brick veneer building with curbside parking and exterior entrances to all units.
Parking Ratio: 1.3 (per 1000 SF)
Parking Type: Surface
Parking Description: Level curbside parking.
Total Parking Spaces: 24
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Central
Fuel: Gas
Air Conditioning: Package Unit, Window Unit
Internet Access: Cable
Interior Description: Most of the 18 units have undergone extensive renovations including flooring, updated baths, and kitchens. The roof id 2019 and all of the windows have been replaced.
Zoning Description: C-1 is a general commercial zoning.
Lot Frontage: 162
Lot Depth: 153
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Fee simple
Legal Description: 111200300000 Parcel ID

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,168 81,904 168,833
Median Age: 39.7 38.74 37.5
Households: 4,928 32,648 67,434

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