24 Unit Hikes Point Multifamily Opportunity

Multi-Family for Sale
Catylist Listing ID: 30823733
Property Subtypes: Low-Rise/Garden
Number of Units: 24 Units
Building Size (RSF): 12,000 SF
Gross Building Area: See Agent
Sale Price: $2,148,000
Unit Price: $89,500 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/7/2022

Overview / Comments

Located in the Hikes Point submarket of East Louisville, KY, this 24 unit offering 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 offering: 3005, 3008-3010 Mid Dale Dale

Additional units are available as part of a larger portfolio offering. Inquire with the listing agent for more information.

Link to the confidentiality agreement: https://forms.gle/uN2E5EfETWpMUtfz9

Attachments & Media

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Jefferson
Tax ID/APN: 091B00030000
Zoning: R-7 - Residential Multi-Family District

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 18,912 121,062 288,596
Median Age: 39.73 39.79 39.05
Households: 8,629 53,736 127,478

Contact

Photograph of Listing Agent

Taylor M Thompson

PRG Commercial Property Advisors
KCREA Member
Photograph of Listing Agent

Reed B Weinberg

PRG Commercial Property Advisors
KCREA Member
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