512 Ormsby AveLouisville, KY 40203

Property Details for 512 Ormsby Ave

Year built

1950

Lot size

0.75 AC

Property size (Sq ft)

55,056 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This seven-story, 128-unit apartment building, totaling 55,056 square feet, presents a compelling value-add investment opportunity in the heart of Louisville, KY. Built in 1950 and extensively renovated in 2023, the property sits on a 0.75-acre lot in Jefferson County and boasts a prime location within the city's thriving Downtown area, benefiting from proximity to major employers, including the Health District and the southern industrial node. The property's central location offers unparalleled access to the vibrant NuLu, Phoenix Hill, and Highlands neighborhoods, known for their shopping, dining, and entertainment options. With 52 parking spaces available, the building enjoys strong occupancy and rent projections fueled by Louisville's dynamic economy and population growth. The property's unique character offers a new owner the chance to enhance interior finishes and further increase rental income through a targeted value-add program. This is a rare chance to acquire a well-positioned multifamily asset in a rapidly developing urban core. The building's strong fundamentals, coupled with the potential for increased profitability, make this an attractive investment prospect for those seeking exposure to Louisville's flourishing real estate market.

Location Insight

City

Louisville

County

Jefferson

State

Kentucky

Latitude

38.2327

Longitude

-85.7631

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