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Investment Highlights

  • 100 Percent Occupied, Below Market Rents with a 42 Person Waiting List
  • Amenities Include 21 Garages, On-Site Management Office, Fitness Room, Fenced Dog Park, and BBQ Areas
  • Walkable Community Next to Grocery, Restaurants, and Retail Yet Only a Mile From the Commerce Crossings Industrial Park
  • Situated in Garden-Like Setting Just Off the High Growth Southern Preston Highway Corridor
  • Discount to Replacement Cost

Executive Summary

Marcus & Millichap is pleased to present Preston Gardens Apartments, a modern multifamily community located in the southern Louisville metro area along the Preston Highway corridor, one of the region’s most active residential and commercial growth corridors.
Offering well-designed one- and two-bedroom apartment homes in a walkable community. Built in 2014, the property consists of 96 units across three-story residential buildings and features contemporary finishes, spacious layouts, and a quiet residential setting just minutes from major employment centers and retail amenities.
The community features four floor plans ranging from approximately 754 to 1,131 square feet, delivering spacious layouts with modern interior finishes. Apartments include nine-foot ceilings, walk-in closets, black appliances, full size washer and dryers in their own laundry room, vinyl and carpet flooring, and private patios or balconies, creating an attractive living environment for residents seeking both comfort and functionality.
Residents also benefit from a variety of on-site amenities that include a fitness center, pet-friendly environment with dog park, outdoor BBQ area, package receiving services, 21 detached garages, and professional on-site management. These amenities, combined with modern finishes and efficient floor plans, position Preston Gardens as a desirable rental option within the explosive south Louisville market.
Situated off Preston Highway in the Hillview/South Louisville area, the property enjoys a tucked-away residential setting while maintaining strong connectivity to major transportation corridors and employment hubs. The community is located within close proximity to Interstate 65 and Interstate 264, allowing convenient access to Downtown Louisville, surrounding suburban communities, and the broader regional economy. The area features a strong mix of retail, service businesses, and residential neighborhoods, with numerous shopping centers, restaurants, and everyday conveniences located within minutes of the property.
The surrounding market is anchored by several of Louisville’s largest employment centers, including UPS Worldport at Louisville Muhammad Ali International Airport, the company’s global air cargo hub employing approximately 20,000 workers in the region. Additional major employers nearby include Ford Motor Company and GE Appliances, which together employ approximately 14,000 workers within a short drive of the property

Property Facts

Sale Type Investment
No. Units 96
Property Type Multifamily
Property Subtype Apartment
Apartment Style Garden
Building Class B
Lot Size 4.99 AC
Building Size 134,481 SF
Average Occupancy 100%
No. Stories 3
Year Built 2014
Parking Ratio 1.09/1,000 SF
Zoning R7-RESIDEN

Amenities

Unit Amenities

  • Air Conditioning
  • Balcony
  • Washer/Dryer
  • Heating
  • Ceiling Fans
  • Refrigerator
  • Range
  • Walk-In Closets
  • Patio
  • Wheelchair Accessible (Rooms)

Site Amenities

  • Fitness Center
  • Property Manager on Site
  • Package Service

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
1+1 66 - 754 - 848
2+2 30 - 1,037 - 1,131
Fairly walkable
40/100
Exceptionally drivable
90/100
Minimal public transit
10/100
Somewhat bikeable
30/100

Property Taxes

Property Taxes

Parcel Number
009001170000
Land Assessment
$923,140 CAD
Improvements Assessment
$11,192,013 CAD
Total Assessment
$12,115,153 CAD
  • Listing ID: 39848370

  • Date on Market: 2026-03-20

  • Last Updated:

  • Address: 11011 Preston Gardens Ct, Louisville, KY 40229

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