48 Unit Multifamily Opportunity

Multi-Family for Sale
Catylist Listing ID: 30757837
Property Subtypes: Low-Rise/Garden
Number of Units: 48 Units
Building Size (RSF): 42,686 SF
Gross Building Area: See Agent
Sale Price: $2,640,000
Unit Price: $55,000 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/5/2021

Overview / Comments

This 48 unit workforce housing opportunity is located in Louisville's Shawnee neighborhood. The all-brick buildings are just one block from Shawnee Park and are situated in the midst of a dense single family residential neighborhood.

The property is well maintained and has undergone improvements over the past 5 years that includes new roofs and many windows. It is separately metered for gas and electric, so there is limited landlord utility exposure.

Louisville is seeing a shortage of affordable units and high demand for this type of housing, which speaks to the historically high physical and economic occupancy. West Louisville is experiencing renewed focus from various public and private capital sources.

:: 48 2bd/1ba units
:: High demand location for workforce housing
:: Upside potential via the below market rents
:: Separately metered for gas & electric service

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Jefferson
Tax ID/APN: 006A00900000
Zoning: R-7 - Residential Multi-Family District

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 14,614 80,059 214,197
Median Age: 38.24 35.79 36.06
Households: 5,726 31,949 89,392
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