2007 Terril LnLouisville, KY 40218

Property Details for 2007 Terril Ln

Year built

1966

Lot size

1.14 AC

Property size (Sq ft)

24,547 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional multifamily investment opportunity presents a 37-unit apartment building situated on a 1.135-acre lot in Louisville, Kentucky. Built in 1966, the property comprises two, two-story buildings totaling 24,547 square feet, zoned R-7 for residential multi-family use. The asking price is $2,395,000, translating to $64,730 per unit and $101.85 per square foot. The property boasts a pro-forma cap rate of 7.18% and a pro-forma net operating income (NOI) of $179,400, based on a pro-forma gross scheduled rent of $347,268 annually. Significant recent improvements include roof replacements, new windows, and unit renovations, including the recent reconstruction of eleven units following a fire. Further rental increases are anticipated, leading to enhanced NOI and operational efficiencies. The property's Jefferson County location, at 2007 Terril Ln, Louisville, KY 40218, offers strong potential for future growth and return on investment. The property is offered fee simple. The APN is 087J00590037.

Location Insight

City

Louisville

County

Jefferson

State

Kentucky

Latitude

38.2051

Longitude

-85.6774

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