Furlong Apartments 1500 Oleanda Ave 53 Unité Immeuble d’appartements 4 924 500 $ CAD (92 915 $ CAD/Unité) Louisville, KY 40215

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 assumable loan is fantastic (4.43%) and will save you a lot of money compared to anything else you buy in the market today. Rates keep climbing.
-The huge cash flow pro forma can be reached without expensive Class B upgrades.
-Area units are reaching $1100/unit pricing with basic working-class units.
-There are not that many units to fix up (~$9K x 12 units) in order to see stabilized returns.
-Seller will hold some seller financing to make an easier entry point.
The property is comprised entirely of spacious two-bedroom apartments, with washer-dryer connections. Located minutes from Churchill Downs, the University of Louisville, Louisville International Airport, UPS Worldport, Ford Assembly Plant, and Amazon.
With rents currently hitting $1,000 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.