153 Thierman Ln Louisville, KY 40207

Property Details for 153 Thierman Ln

Year built

1965

Property type

Commercial real estate

Description

This exceptional investment opportunity presents a 50-unit Class A apartment building located at 153 Thierman Ln, Louisville, KY 40207. The property, built in 1965 and comprised of three buildings, boasts a total net rentable area of 35,850 square feet. Currently operating at 100% occupancy, this asset offers immediate cash flow with significant upside potential. Thirty-three units have undergone professional renovations, featuring new plank flooring, kitchens, bathrooms, and in-suite laundry. The property's location within the desirable St. Matthews submarket provides convenient access to premier shopping destinations, including Mall St. Matthews, Oxmoor Center, and the new TopGolf. Its proximity to major employers, including Ford, which has invested $5.2 billion in Louisville since 2014, and numerous universities with a combined 50,000 students and employees, ensures strong tenant demand. The current management strategy allows for significant NOI growth through increased marketing efforts, rent increases, and the potential implementation of a utility reimbursement system. Louisville's robust economy, with over $10.5 billion invested and 18,000 jobs created in 2022 alone, further strengthens this investment's long-term prospects. This property represents a compelling value-add opportunity in a thriving market. The property is situated in Jefferson County and benefits from its location near Louisville's largest employers.