2506 Montgomery StLouisville, KY 40212

Property Details for 2506 Montgomery St

Year built

2020

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional 24-unit apartment building, constructed in 2020, presents a compelling value-add investment opportunity in Louisville's thriving Portland neighborhood. The property boasts 23,496 square feet of net rentable space, currently operating at 100% occupancy. The two-story building features a mix of spacious two and three-bedroom apartments, all equipped with luxury vinyl plank flooring. Residents enjoy ample landscaped green space, contributing to the high quality of life within the community. The property benefits from an assumable loan with a 1% interest rate and favorable repayment terms, extending until 2039. This loan is subject to affordability restrictions, requiring residents to have 80% AMI. The property is zoned R-5 Residential Multifamily, allowing for potential rental rate increases while remaining compliant with maximum allowable rents. Located in a rapidly developing area experiencing a significant shortage of affordable housing, this asset is poised for continued strong demand and offers substantial upside potential. The asking price is $2,800,000. Further details are available upon request.

Location Insight

City

Louisville

County

Jefferson

State

Kentucky

Latitude

38.2723

Longitude

-85.7893

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at support@realmo.com and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at support@realmo.com.