Multifamily
Norbrook Apartments
4300 Norbrook Dr, Louisville, KY 40218
Listing Price: $7,802,000
Investment Overview
Marcus & Millichap is pleased to present Norbrook Arms Apartments, a compelling 94-unit multifamily community located at 4300 Norbrook Drive in Louisville, Kentucky. Built in 1971, the property consists of approximately 51,420 square feet of gross building area across five residential buildings. The community is comprised of 71 one-bedroom and 23 two-bedroom units, and is strategically located in the Buechel submarket off Bardstown Road—one of Louisville's most accessible and established rental corridors. The Buechel submarket continues to demonstrate resilient workforce housing demand supported by affordability and limited new competing supply.
With in-place rents meaningfully below market averages and Louisville multifamily fundamentals strengthening, the property offers investors a stable cash-flowing asset with clear value-add upside through a targeted unit renovation program. The diversified unit mix, affordable price point, and lack of direct new competition positions Norbrook Arms as a low-risk, high-retention asset well-suited for a long-term hold or value-add execution strategy.
Norbrook Apartments
Investment Highlights
- 94-Unit Multifamily Community Located Along the Bardstown Road Workforce Housing Corridor in the rapidly growing Buechel Submarket.
- Approximately 51,420 Square Feet Across Five Residential Buildings. Diversified Unit Mix Featuring 82 One-Bedroom and 12 Two-Bedroom Units
- Close Proximity to UPS Worldport, the Largest Automated Package Handling Facility in the World, Employing Over 25,000 Workers.
- Close Proximity to Ford Motor Company, Employing Over 12,000 Workers Across Two Manufacturing Facilities. Ford Has Proposed a $2 Billion Dollar Expansion to this Footprint Which Has Received Local and State Government Approval.
- Walking Distance to GE Appliance Park Which Has Invested $490 Million Dollars to Move Washing Machine Production to the Facility, Creating 800 New Full-Time Jobs.
- Close Proximity to Multiple Amazon Facilities, Providing Over 30,000 Direct and Indirect Jobs Across Fulfillment, Delivery Center, Construction, Logistics, and Professional Services.
- Stable In-Place Cash Flow with Strong Occupancy Fundamentals, Below-Market Rents Providing Significant Value-Add Potential. Opportunity for Targeted Unit Renovation Program
- Recently Completed or Announced Retail Developments Include a WaWa Gas Station and Grocery Anchored Retail Center.
Exclusively Listed By
Listing Price: $7,802,000
Investment Highlights
- 94-Unit Multifamily Community Located Along the Bardstown Road Workforce Housing Corridor in the rapidly growing Buechel Submarket.
- Approximately 51,420 Square Feet Across Five Residential Buildings. Diversified Unit Mix Featuring 82 One-Bedroom and 12 Two-Bedroom Units
- Close Proximity to UPS Worldport, the Largest Automated Package Handling Facility in the World, Employing Over 25,000 Workers.
- Close Proximity to Ford Motor Company, Employing Over 12,000 Workers Across Two Manufacturing Facilities. Ford Has Proposed a $2 Billion Dollar Expansion to this Footprint Which Has Received Local and State Government Approval.
- Walking Distance to GE Appliance Park Which Has Invested $490 Million Dollars to Move Washing Machine Production to the Facility, Creating 800 New Full-Time Jobs.
- Close Proximity to Multiple Amazon Facilities, Providing Over 30,000 Direct and Indirect Jobs Across Fulfillment, Delivery Center, Construction, Logistics, and Professional Services.
- Stable In-Place Cash Flow with Strong Occupancy Fundamentals, Below-Market Rents Providing Significant Value-Add Potential. Opportunity for Targeted Unit Renovation Program
- Recently Completed or Announced Retail Developments Include a WaWa Gas Station and Grocery Anchored Retail Center.
Investment Overview
Marcus & Millichap is pleased to present Norbrook Arms Apartments, a compelling 94-unit multifamily community located at 4300 Norbrook Drive in Louisville, Kentucky. Built in 1971, the property consists of approximately 51,420 square feet of gross building area across five residential buildings. The community is comprised of 71 one-bedroom and 23 two-bedroom units, and is strategically located in the Buechel submarket off Bardstown Road—one of Louisville's most accessible and established rental corridors. The Buechel submarket continues to demonstrate resilient workforce housing demand supported by affordability and limited new competing supply. With in-place rents meaningfully below market averages and Louisville multifamily fundamentals strengthening, the property offers investors a stable cash-flowing asset with clear value-add upside through a targeted unit renovation program. The diversified unit mix, affordable price point, and lack of direct new competition positions Norbrook Arms as a low-risk, high-retention asset well-suited for a long-term hold or value-add execution strategy.
Exclusively Listed By
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