228 E Kentucky St, Louisville, KY 40203

Choose nearby businesses to show on the map:

Building Details:

228 E Kentucky St is located in Louisville, KY.

Cornerstone Apartments is a rare, historic, 51 unit multifamily opportunity in Louisville, KY. The property enjoys a favorable location and is well positioned just south of Louisville’s Central Business District, a diverse area with strong rental demand. Cornerstone was the former Jewish Hospital and nurses' quarter, and is located in Louisville's Sobro neighborhood, an area that has had tremendous focus on future redevelopment and branding. Its close proximity to hospitals, Louisville Medical Center, restaurants major employers, churches and retail, Cornerstone offers amenities and convenience which drive strong rental demand and provides very stable occupancy. Cornerstone offers a mix of 22 large 1 BR/1BA units, 22 large 2BR/1BA units, and 7 large 3BR/1BA units. The property is separately metered for electric and gas. The units are heated and cooled by individual forced gas furnaces and individual ac units. Cornerstone Lofts, with its uniquely strong historic stability and excellent location, is positioned to be a key beneficiary of Louisville’s uniquely favorable multi- family fundamentals.

QUICK FACTS
Address: 228 & 238 East Kentucky Street, and 1009 & 1011 South Floyd Street, Louisville KY 40202
51 total units (22 1BR/1BA units, 22 2 BR/1BA units and 7 3BR/1BA units)
Net Leasable Square Footage: 42,700
Construction: 1920, Brick and Concrete Construction; Site Size: 1.05 acres

Ample off-street Parking in rear of buildings that includes vacant lot across the street.
Asking Price: $2,650,000

INVESTMENT PROPERTY HIGHLIGHTS
-Located in high demand location; rare historic property.
-Very stable asset with embedded value-add
-Immediate Upward mobility in rents
-Recent capital improvements, well-constructed buildings, with demonstrated strong occupancy
-Excellent multi-family fundamentals in the Louisville market.