Furlong Apartments
4.3% Debt assumption with only 25% down!!
Marketing description
Marcus & Millichap is pleased to present the exclusive listing of the Furlong Apartments, a 53-unit multifamily asset located in a strong rental corridor in Louisville, KY. The property is comprised entirely of spacious two-bedroom apartments with washer/dryer hookups.
This is a strong value add play – Current rents are hitting $900/unit. A capital investment could bring all units to the $1,100 range and allow for future growth.
Fantastic Debt assumption: Current CMBS $2.5M loan, due 2029 at a 4.3% Interest Rate.
Furlong Apartments are just minutes from Churchill Downs, the University of Louisville, Louisville International Airport, UPS Worldport, Ford Assembly Plant, and Amazon. Furlong offers residents unmatched access to major employment centers, transportation hubs and lifestyle amenities.
This is a rare opportunity to acquire a value-add, mid-sized multifamily property in a highly desirable submarket of Louisville, with continued demand drivers and long-term value appreciation.
Investment highlights
Motivated Seller
53- Two Bedroom Units with washer/dryer connections
Some upgrades
Proximity to Major Employers ( UPS, Ford, Amazon)
Close to the University of Louisville
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