2737 Brownsboro RdLouisville, KY 40206

Property Details for 2737 Brownsboro Rd

Year built

1959

Property size (Sq ft)

5,640 SF

Property type

Apartment buildings

Description

Exceptional value-add opportunity in Louisville, KY! This 8-unit apartment building, located at 2737 Brownsboro Rd, offers significant upside potential. The property boasts 5,640 square feet and is currently 100% occupied, generating a current NOI of $39,730 and a 4.46% cap rate. Pro-forma projections indicate a NOI of $44,880 and a 5.04% cap rate, reflecting the potential for increased profitability through market rent adjustments. Each of the eight one-bedroom units is priced at $111,250, representing a compelling entry point into the Louisville multifamily market. Built in 1959, the Class B building features convenient carports and a full basement equipped with storage lockers and washer/dryer hookups. The property benefits from its prime location in the desirable Brownsboro Road corridor, close to the vibrant entertainment districts of Frankfort Avenue and Saint Matthews. Utilities are efficiently managed with separately metered electric and gas, while the landlord covers water, sewer, and drainage. This property presents a strong investment opportunity for those seeking to capitalize on the growing Louisville market and enhance income through strategic property management. Annual gross rents currently stand at $70,440.

Location Insight

City

Louisville

County

Jefferson

State

Kentucky

Latitude

38.2598

Longitude

-85.6938

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