502-432-2981
1500 Oleanda Ave, Louisville, KY for Sale
Apartments - FOR SALE
1/16
null | Request Cap Rate

1500 Oleanda Ave
Louisville, KY 40215
Taylor Berry


HIGHLIGHTS

  • 53 - Two Bedroom Units
  • Value-Add
  • Fantastic Debt assumption: Current CMBS $2.5M loan, due 2029 at a 4.3% Interest Rate.

OVERVIEW

Marcus & Millichap is pleased to present the exclusive listing of the Furlong Apartments, a 53-unit multifamily asset located in a strong rental corridor in Louisville, KY. The property is comprised entirely of spacious two-bedroom apartments, with a location just minutes from Churchill Downs, the University of Louisville, Louisville International Airport, UPS Worldport, Ford Assembly Plant, and Amazon. Moreover, Furlong offers residents unmatched access to major employment centers, transportation hubs and lifestyle amenities. With rents currently hitting $900 per unit, the property presents a strong value-add opportunity through a small capital investment that will bring all units to that base level and allow for future growth towards market rents. This is a rare opportunity to acquire a value-add, mid-sized multifamily property in a highly desirable submarket of Louisville, with continued demand drivers and long-term value appreciation.

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

52

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Furlong Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1945

PARKING SPACES

-

LAND DETAILS

LAND ACRES

3.04 AC

LAND SF

132,422 SF

ZONING

R7-RESIDEN

APN/PARCEL ID

064L00010000

ASK ABOUT THIS PROPERTY

David BadgettMarcus & MillichapMore Info
502-432-2981

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David BadgettMarcus & MillichapMore Info
502-432-2981

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.