Multifamily
Furlong Apartments
1500 Oleanda Ave, Louisville, KY 40215
Listing Price: Request For Offer
Investment Overview
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 property is comprised entirely of spacious two-bedroom apartments, with a location just minutes from Churchill Downs, the University of Louisville, Louisville International Airport, UPS Worldport, Ford Assembly Plant, and Amazon. Moreover, Furlong offers residents unmatched access to major employment centers, transportation hubs and lifestyle amenities.
With rents currently hitting $900 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.
Furlong Apartments
Investment Highlights
- A 53-Unit, Mid-Sized Multifamily Property with All Two-Bedroom Units
- Proximal Location Near Several Demand Generators and Within Strong Rental Corridor
- Value-Add Opportunity with Minimal Capital Expenditures
- Fantastic Debt Assumption: Current CMBS $2.5 Million Loan, due 2029 at a 4.3 Percent Interest Rate
Exclusively Listed By
Investment Highlights
- A 53-Unit, Mid-Sized Multifamily Property with All Two-Bedroom Units
- Proximal Location Near Several Demand Generators and Within Strong Rental Corridor
- Value-Add Opportunity with Minimal Capital Expenditures
- Fantastic Debt Assumption: Current CMBS $2.5 Million Loan, due 2029 at a 4.3 Percent Interest Rate
Investment Overview
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 property is comprised entirely of spacious two-bedroom apartments, with a location just minutes from Churchill Downs, the University of Louisville, Louisville International Airport, UPS Worldport, Ford Assembly Plant, and Amazon. Moreover, Furlong offers residents unmatched access to major employment centers, transportation hubs and lifestyle amenities. With rents currently hitting $900 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.
Exclusively Listed By
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