Catylist ID:
#30820357
| Catylist Listing ID: | 30820357 |
| Property Subtypes: | Low-Rise/Garden |
| Number of Units: | 36 Units |
| Building Size (RSF): | 22,350 SF |
| Gross Building Area: | See Agent |
| Sale Price: | $2,904,000 |
| Unit Price: | $80,666.67 Per Unit |
| Property Use Type: | Investment |
| Sale Terms: | Cash to Seller |
| Cap Rate: | Undisclosed |
| Last Updated: | 5/24/2023 |
Overview / Comments
|
Located in the Hikes Point submarket of East Louisville, KY, this 36 unit portfolio is comprised of 2bd/1ba units of quality workforce housing. Hikes Point is a very mature, stable submarket of Louisville and boasts attractive area amenities as well as proximity to Louisville's premier suburban medical district. The properties have recently had updates to all the common areas of the buildings and many of the units have been renovated. Further upside exists with renovation to the units as they come available to achieve higher rents (current ownership has seen rent increase by more than 30% on renovated units vs. non-renovated). The Louisville market experiences very high demand for workforce housing due to limited inventory, so investors will continue to enjoy strong occupancy and rent growth with these infill assets. Addresses included in sale: :: 3005 Mid Dale Lane (6 units) :: 3008 Mid Dale Lane (6 units) :: 3009 Mid Dale Lane (6 units) :: 3010 Mid Dale Lane (6 units) :: 3708 Noblitt Drive (4 units) :: 3710 Noblitt Drive (4 units) :: 3712 Noblitt Drive (4 units) :: (Total 36 units) Owner will consider selling separately as well as a portfolio. Link to the confidentiality agreement: https://forms.gle/uN2E5EfETWpMUtfz9 |
Attachments & Media
Additional Details
| Nearest MSA: | Louisville/Jefferson County |
| County: | Jefferson |
| Tax ID/APN: | 091E03520000 |
| Zoning: | R-7 - Residential Multi-Family District |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 21,659 | 118,821 | 292,260 |
| Median Age: | 39.7 | 39.57 | 39 |
| Households: | 9,918 | 52,856 | 129,251 |
Contact
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