2506 Montgomery St Louisville, KY 40212

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.