Skip to main content

Multifamily

Venus Place Apartments & Mt. Carmel

7320 Southside Dr, Louisville, KY 40214

Listing Price: Request For Offer

Number of Units
150
Occupancy
90.0%
Gross SF
143,602

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale the Venus Place & Mount Carmel portfolio in Louisville, Kentucky. The offering represents a 150-unit portfolio in one of the hottest markets in the nation. Venus Place & Mount Carmel are neighboring properties being operated together in South Louisville, about 20 minutes from downtown. This 150-unit portfolio consists of 70 one-bedroom and 80 two-bedroom units. Prospective buyers will benefit from this huge value-add opportunity. Units are substantially under market rents. Owner has undertaken a series of improvements to prepare for sale: All Venus Place roofs were replaced in 2019, and all windows in 2020. The 1/1 building balcony was replaced in 2021. Many of the original water and drain lines have been replaced. 14 of the 2-bedroom units were completely emptied to be rebuilt with new HVAC, kitchens, flooring, etc. Investors will benefit from this value-add model, with $200 rent premiums expected.

Investment Highlights

  • Original Owner. Huge Value add potential.
  • Offered free and clear of debt.
  • Located off a busy retail corridor in South Louisville.
  • The huge former basement laundry room could be renovated and reactivated fairly easily.
  • Some buildings have huge, unused basement areas that could be repurposed to income generating uses.

Exclusively Listed By

Financing By

Multifamily

Venus Place Apartments & Mt. Carmel

Listing Price: Request For Offer

Number of Units
150
Occupancy
90.0%
Gross SF
143,602

Investment Highlights

  • Original Owner. Huge Value add potential.
  • Offered free and clear of debt.
  • Located off a busy retail corridor in South Louisville.
  • The huge former basement laundry room could be renovated and reactivated fairly easily.
  • Some buildings have huge, unused basement areas that could be repurposed to income generating uses.

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale the Venus Place & Mount Carmel portfolio in Louisville, Kentucky. The offering represents a 150-unit portfolio in one of the hottest markets in the nation. Venus Place & Mount Carmel are neighboring properties being operated together in South Louisville, about 20 minutes from downtown. This 150-unit portfolio consists of 70 one-bedroom and 80 two-bedroom units. Prospective buyers will benefit from this huge value-add opportunity. Units are substantially under market rents. Owner has undertaken a series of improvements to prepare for sale: All Venus Place roofs were replaced in 2019, and all windows in 2020. The 1/1 building balcony was replaced in 2021. Many of the original water and drain lines have been replaced. 14 of the 2-bedroom units were completely emptied to be rebuilt with new HVAC, kitchens, flooring, etc. Investors will benefit from this value-add model, with $200 rent premiums expected.

Exclusively Listed By

Financing By

MM Texture Background
MM Textured Background Lower