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- Price$2,649,500
- Sq. Ft.14,202
- Built1961
3632 Manslick Rd, Louisville
In Place 10+ Cap Rate. This turnkey, stabilized investment opportunity consists of 34 studio units that have been gutted down to the studs and completely renovated with new plumbing, electrical, mini-split heating/cooling systems, LVP flooring, granite counters, stainless appliances, and more. Plus, a tax moratorium is in place through 2029 and transferable to the new owner. Most rents are at $976/month, with potential to increase over time. Expenses are low due to high efficiency tankless water heaters, mini-splits, and newly renovated units. The property has been stabilized since winter, and is projected to produce well over $300K in NOI this year. The units are separately metered for LG&E, and are efficiently sized for quick and easy turns. There is also off street parking. This property presents an excellent opportunity to invest in a stabilized, cash flowing, low maintenance multifamily asset. Highlights include: > 34 fully gutted and renovated studio units > Separate meters for LG&E > High efficiency mini-splits and tankless water heaters > Cash flowing asset, projected 10+ cap rate with in place financials
Essential Information
- MLS® #1690042
- Price$2,649,500
- Square Footage14,202
- Year Built1961
- TypeMulti Family
- Sub-TypeApartment
- StatusActive
Amenities
- UtilitiesElectricity Connected
Exterior
- Exterior FeaturesBalcony
- RoofShingle
- ConstructionConcrete
Community Information
- Address3632 Manslick Rd
- Area01-Dtwn Old Louisville/Shively/West Lou
- SubdivisionNONE
- CityLouisville
- CountyJefferson
- StateKY
- Zip Code40215
Interior
- HeatingMiniSplit/Ductless
Listing Details
- Listing OfficePrg Commercial Property Advisors

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