Lynnview Drive apartments presents the opportunity to acquire a well located, boutique, 18-unit asset in the highly stable and supply constrained market of Louisville, KY. This opportunity offers strong -in place cash flow with immediate upside by bringing rents in-line with the market and exploring operational efficiencies. Current ownership has recently upgraded units, painted the exterior / common areas and installed newer windows / water heater. These renovations include new flooring, paint, bathrooms, appliances etc. on ~75% of the units.
A new investor can transition their focus from maximizing occupancy to bringing rents in-line with current proven rents. Increasing rents at the property to the proven rent level at the asset can increase revenue by $32,000, with the potential to achieve even higher rents. The submarket
is achieving 2.62% rent growth YoY and the submarket is at 95.4% occupancy, with a strong historical track record.
Lynnview Drive apartments is located within minutes of many of Louisville’s top employers and economic drivers including UPS, GE Appliances, Amazon and Ford which provide 39,000+ jobs in the immediate area. Lynnview drive apartments is also located within minutes from a high-traffic retail area which includes major brands such as Home Depot, Kroger, Lowe’s and more.