Multifamily
Eden Apartments
800 Minette Cir, Louisville, KY 40258
Listing Price: $9,600,000
Investment Overview
Marcus & Millichap is pleased to present Eden Apartments, a 124-unit multifamily community with identifiable operational upside. Eden is located at 800 Minette Circle in Louisville, Kentucky. The property's current occupancy, affordable rental profile, established location, and existing unit improvements provide a platform for an investor to pursue increased cash flow through stabilization and improved property operations.
Eden Apartments
Investment Highlights
- Attractive Basis and Value-Add Opportunity Approximately $77,419 per Unit Stabilized at 9.58 Percent Capitalization Rate
- Clear Path to Stabilization — Eden Is Currently Approximately 85 Percent Occupied in a 95 Percent Market
- Spacious Living — 12 Units Are 900 Sq Ft 2Bed/1Bath Townhomes. The Remaining 112 Two Bed/One Bath Units Are 800 Sq. Ft.
- On-Site Facilities — The Property Has a Large Management Office, Maintenance Office, and Laundry Facilities
- Established Southwest Louisville Location — Eden Is Located in the Pleasure Ridge Park/Valley Station Area, on the Main Dixie Highway Commercial Corridor Which Provides Residents with Access to a Broad Range of Retail, Dining, Employment, Education, and Everyday Services, Supporting the Property's Appeal to Value-Conscious Renters
- Value-Add Through Operational Execution — The Investment Thesis Is Primarily Centered on Stabilization and Operational Improvement Rather Than a Reliance on Major Redevelopment. Potential Value-Creation Initiatives Include a Focus on Occupancy, Revenue, and Operations
- Existing Renovation Platform — Several Apartments Have Already Received Improvements Including Flooring, Paint, Lighting, and Cabinet Upgrades. This Provides a Foundation for a Targeted Renovation Strategy
- Acquire at an Attractive Basis ? Stabilize Occupancy ? Improve Operations ? Renovate Selectively ? Increase NOI ? Create Long-Term Value
Exclusively Listed By
Listing Price: $9,600,000
Investment Highlights
- Attractive Basis and Value-Add Opportunity Approximately $77,419 per Unit Stabilized at 9.58 Percent Capitalization Rate
- Clear Path to Stabilization — Eden Is Currently Approximately 85 Percent Occupied in a 95 Percent Market
- Spacious Living — 12 Units Are 900 Sq Ft 2Bed/1Bath Townhomes. The Remaining 112 Two Bed/One Bath Units Are 800 Sq. Ft.
- On-Site Facilities — The Property Has a Large Management Office, Maintenance Office, and Laundry Facilities
- Established Southwest Louisville Location — Eden Is Located in the Pleasure Ridge Park/Valley Station Area, on the Main Dixie Highway Commercial Corridor Which Provides Residents with Access to a Broad Range of Retail, Dining, Employment, Education, and Everyday Services, Supporting the Property's Appeal to Value-Conscious Renters
- Value-Add Through Operational Execution — The Investment Thesis Is Primarily Centered on Stabilization and Operational Improvement Rather Than a Reliance on Major Redevelopment. Potential Value-Creation Initiatives Include a Focus on Occupancy, Revenue, and Operations
- Existing Renovation Platform — Several Apartments Have Already Received Improvements Including Flooring, Paint, Lighting, and Cabinet Upgrades. This Provides a Foundation for a Targeted Renovation Strategy
- Acquire at an Attractive Basis ? Stabilize Occupancy ? Improve Operations ? Renovate Selectively ? Increase NOI ? Create Long-Term Value
Investment Overview
Marcus & Millichap is pleased to present Eden Apartments, a 124-unit multifamily community with identifiable operational upside. Eden is located at 800 Minette Circle in Louisville, Kentucky. The property's current occupancy, affordable rental profile, established location, and existing unit improvements provide a platform for an investor to pursue increased cash flow through stabilization and improved property operations.
Exclusively Listed By
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