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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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