421 Poplar Level Court is amulti-family property for lease in Louisville, KY.
Chateau Village Apartments is an 80 unit community located in a high demand area of South Louisville, and it has undergone significant renovation with further upside remaining for a purchaser. The property is comprised of 80 units, which include a diverse mixture of 55 2BR/1BA, 14 1BR/1BA and 11 3BR/1BA
apartments. The property’s recent improvements include a new parking lot, boiler, windows, roofs and many exterior improvements. The ownership has also
continuously made interior improvements. The property enjoys professional management.
Chateau Village is located off Poplar Level Road in South Louisville. It is a very high demand location for rental housing, which is evident in the historically high occupancy at the property. The rents at the property remain below market, which presents upside for a buyer. The area is a stable neighborhood that caters to workforce housing. The location is in close proximity to shopping and other amenities, and also offers residents easy access to employment centers.
The multifamily fundamentals in Louisville are some of the most desirable in the region. The stability of the economy and huge gain of industrial and logistics related jobs increase the demand for workforce housing at properties like Chateau Village. This presents the opportunity for a purchaser to acquire a stabilized asset with further upside that offers the more quality housing
opportunities in the area.
-Significant renovations that greatly enhance aesthetics and lease-ability; High demand location near shopping and employment centers.
-Historically high physical and economic occupancy; Under-market rents; Solid workforce housing tenant base in market that supports this property type.
-Excellent multifamily fundamentals in Louisville market; Stable market and local economy; Historically low interest rates enhance yield for purchaser.
**This listing is also being offered with Clifton Ridge Apartments (MLS#29684334) as a portfolio sale
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