Investment Overview

The Lofts at Ormsby is a 128-unit mid-rise multifamily community at 512 W Ormsby Avenue in the heart of historic Old Louisville. This seven-story property offers a mix of studio and one-bedroom apartments. It has been modernized with student-friendly amenities, including new recreational and business centers, high-speed internet access, secure entryways, a heated swimming pool, bike storage, pool tables, a workout room, and private gated parking. This is one of those properties that is easy to fall in love with. The old-world charm of this Victorian neighborhood is unique to Louisville. Although located near Central Park and the University of Louisville, the property maintains strong demand from working-class professionals, ensuring a diverse and stable tenant base. Recent $3M capital improvements include a new roof, replacing both elevators, and installing new boilers. Most renovations, including upgrading the penthouse, took place in 2022. The property includes a second parcel with 43 gated private parking spaces, a valuable amenity in this high-demand rental market.