101 Eric Court is amulti-family property for lease in Louisville, KY.
PRG Investments is pleased to serve as the exclusive listing broker for the Eric Court Apartments in Louisville, KY. The all-brick buildings are well located in a high demand area that has easy access to bus lines, major thoroughfares, employment centers and other commercial uses. Professional, third-party management is currently in place.
Over the past several years, the property has experienced a slow but steady enhancement program with significant improvements to the HVAC mechanical systems. A new owner will have the opportunity to make further enhancements to property systems and unit interiors to increase rents and improve occupancy even further. All units are separately metered and the tenants are responsible for their own gas and electric.
-60 Units: 48 Two BR and 12 One BR units
-4 buildings comprising 49,431 sf of net rentable area
-Total Price: $1,695,000
-Price Per Unit: $28,250
-Solid Market Fundamentals: The Louisville market maintains excellent rent growth and occupancy averages over 95%. Favorable interest rate environment yields excellent returns.
-High Demand Location: The location is a high demand area with easy access to major roadways, shopping and bus lines.
-Upside Potential: Upward mobility in rents and potential for improved economic occupancy through customary unit upgrades and routine preventive maintenance.