3524 Manslick Rd, Louisville, KY 40215

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Building Details:

3524 Manslick Rd is located in Louisville, KY.

PRG Investments is serving as the Exclusive Listing Broker for Triangle Park Apartments in Louisville, KY. The property, which is located at 3524 Manslick Road, presents an opportunity to acquire a mid-sized complex in a high demand location. It contains 36 units which are all 2 BR / 1BA apartments. 24 units have been renovated, and the remaining 12 units offer upside potential through further renovation.

This property enjoys strong occupancy and is located in a very high profile location, which offers great exposure for marketing and leasing purposes. There currently exists great upward mobility in rents, as most leases are rented at under-market levels. The property is separately metered for gas and electric with tenants paying for this expense. There is a pleasant courtyard setting in the center of the property.

The Louisville market is currently experiencing excellent multi-family fundamentals, and the demand remains strong for quality workforce rental housing in this asset’s submarket. This presents a great opportunity for a smaller investor to acquire a larger deal, an out of state buyer to break into the local market, or an existing owner in this sub-market to add to their economies of scale in the area.

INVESTMENT HIGHLIGHTS
-Well located in high exposure, high demand area of South Louisville; Strong occupancy levels
-Separately metered for gas and electric; Some renovations in place with newer mechancials
-Upside through upward mobility in rents and further renovation of property
-Take advantage of excellent market fundamentals and historically low interest rates, which offer excellent long term yield opportunities.