Current Use by Public Records
- Lakeview Garden Apartments / Apartment Building
Property Details for 111 Erie Ct
- Year built
- 1999
- Property type
- Apartment buildings
Description
Lakeview Gardens, a 138-unit apartment building in Shepherdsville, Kentucky (Louisville MSA), presents a compelling value-add opportunity. Built in 1999, this garden-style community currently boasts 94.9% occupancy. Ninety-one of the units have already undergone renovations, leaving 47 units primed for upgrades to a luxury standard, presenting a clear path to increased rental income. The property's extensive grounds offer significant potential for amenity additions, further enhancing resident experience and attracting higher-paying tenants. Recent leases have already demonstrated above-average rent growth, showcasing the property's strong operational performance and market demand. Conveniently located near Interstate 65, residents enjoy easy access to major employment centers within the Louisville MSA. Shepherdsville's robust growth trajectory, with a 4.17% population increase since 2020 and projected continued expansion, underscores the strong market fundamentals and stable demand for rental units. This turnkey investment offers immediate upside potential through continued renovations, strategic value-add initiatives, and enhanced market positioning, leading to significant increases in net operating income (NOI). An assumable loan further enhances this attractive investment opportunity. The property's location near the Ford Blue Oval plant adds to its long-term appeal and stability.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Shepherdsville
- County
- Bullitt
- State
- Kentucky
- Longitude
- -85.698
- Latitude
- 37.991
