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Description

PRG Investments has been retained the exclusive marketing agent for this 150 unit apartment portfolio in Louisville, KY. The portfolio includes three separate properties: Glen Hollow, Eastview and Sprowl Meadow Apartments. These properties could be purchased together as a package or separate. The all brick construction buildings are well located in high demand rental areas and enjoy solid occupancy and diverse unit mixes. Each site enjoys excellent exposure and access to major roadways, bus lines, shopping and schools. The properties have been managed by long term owners, and they will enjoy further upside through the ability to raise rents. QUICK FACTS -Includes 3 Apartment Complexes: Glen Hollow, Sprowl Meadow and Eastview Apartments -150 Total Units (61 1-BR/1ne-BA; 61 2-BR/1-BA; 24 2-BR/2-BA; 4 efficiencies) -Net Rentable Area: 111,955 -Total Price: $3,750,000 -Cap Rate: 9% -Price Per Unit: $25,000 INVESTMENT HIGHLIGHTS -Solid Market Fundamentals: The Louisville apartment market maintains superb fundamentals with excellent rent growth and occupancy averages over 95%. -High Demand Locations: The locations of these assets are in high demand, high exposure areas with easy access to major roadways, shopping & bus lines. The properties enjoy solid occupancy. -Upside Potential: Upward mobility in rents and potential for implementation of RUBS systems present value add opportunities. -Economies of Scale Opportunities: 150 total units create opportunity to enjoy economies of scale in leasing and maintenance staffing. Properties can be purchased together or separate. -Leveraged Returns: Properties are being offered free and clear of existing debt, which presents an opportunity for an investor to take advantage of historically low interest rates. Building price details: $3,750,000.

Property Details

• Type: Multifamily
• Status: Available
• Buildings: 1

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