1500 Oleanda Avenue, Louisville, KY 40215

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Tyler R.

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Building Details:

1500 Oleanda Avenue is amulti-family property for lease in Louisville, KY.

Furlong Apartments is located at 1500 Oleanda Avenue in South Louisville. This multifamily property is comprised of 53 2BR 1BA units and is located in South Louisville. The complex is well-located in a high demand area that is in close proximity to Churchill Downs. It has easy access to bus lines, major thoroughfares, employments centers and other commercial uses. The property has undergone a substantial renovation that included exterior improvements and unit upgrades. The property contains updated windows and there have also been mechanical upgrades throughout. It is separately metered for gas and electric with tenants responsible for this cost. The property offers the best quality rental housing in the immediate area, and units offer residents a spacious and functional floor plan. This presents the opportunity for an investor looking to diversify into real estate, or an existing owner adding to their portfolio, to acquire an investment with excellent long term yield.
QUICK FACTS
-Address: 1500 Oleanda Avenue, Louisville, KY
-53 Units: All 2BR 1 BA units
-Separately metered for gas and electric
-Asking Price $2,200,000

INVESTMENT HIGHLIGHTS
-Solid Market Fundamentals: The Louisville market maintains excellent rent growth and occupancy
averages over 95%. Favorable interest rate environment yields excellent returns.

-Stable Investment in High Demand Location: The property is a well maintained asset with a solid tenant base. It has undergone significant renovation and offers the highest quality rental housing in the immediate area. The location is a high demand area near Churchill downs with easy access to expressways and major commercial thoroughfares.

-Deal Size: Furlong is a mid-sized asset which presents an opportunity for an investor looking to grow to a larger investment size, or an existing large owner looking to add to their footprint in the market.

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