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Midland 2020 Midland Ave 14 Unit Apartment Building $1,810,000 ($129,286/Unit) Louisville, KY 40204
Investment Highlights
- Great investment opportunity
- Stable cash-flow
- Well-maintained asset
Executive Summary
Located in the historic Cherokee Triangle, this 14-unit property is a rare generational offering. Purpose-built as apartments—an uncommon feature in this submarket—it consists of fourteen 1BR/1BA units with rents well below the sub-market averages. It is just steps from Louisville’s most walkable corridors, with convenient access to shopping, dining, and services.
Held by the same ownership for decades, the property has benefited from consistent professional management. Units feature forced air heating and central air, with tenants responsible for gas and electric, helping to control operating expenses. Additional savings are achieved through a water and trash recapture program. While current unit conditions meet market demand, there is an opportunity for a new owner to implement upgrades and drive further rent growth. The property has been well maintained with no significant deferred maintenance, and a full electrical panel upgrade was completed in 2023.
Opportunities like this are rare, offering stable cash flow and long-term appreciation driven by strong underlying real estate fundamentals.
Held by the same ownership for decades, the property has benefited from consistent professional management. Units feature forced air heating and central air, with tenants responsible for gas and electric, helping to control operating expenses. Additional savings are achieved through a water and trash recapture program. While current unit conditions meet market demand, there is an opportunity for a new owner to implement upgrades and drive further rent growth. The property has been well maintained with no significant deferred maintenance, and a full electrical panel upgrade was completed in 2023.
Opportunities like this are rare, offering stable cash flow and long-term appreciation driven by strong underlying real estate fundamentals.
Property Facts
| Price | $1,810,000 | Building Class | C |
| Price Per Unit | $129,286 | Lot Size | 0.21 AC |
| Sale Type | Investment | Building Size | 10,446 SF |
| No. Units | 14 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1960 |
| Property Subtype | Apartment | Parking Ratio | 1.91/1,000 SF |
| Apartment Style | Low-Rise | Cross Streets | Bardstown Rd |
| Zoning | R6 - Residential Multifamily District | ||
| Price | $1,810,000 |
| Price Per Unit | $129,286 |
| Sale Type | Investment |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 10,446 SF |
| No. Stories | 2 |
| Year Built | 1960 |
| Parking Ratio | 1.91/1,000 SF |
| Cross Streets | Bardstown Rd |
| Zoning | R6 - Residential Multifamily District |
Amenities
Unit Amenities
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Carpet
Site Amenities
- 24 Hour Access
- Courtyard
- Property Manager on Site
- Tenant Controlled HVAC
- Multi Use Room
- Online Services
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 14 | - | 600 - 750 |
1 1
Moderately walkable
70/100
Moderately drivable
70/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 075F00270000 | Improvements Assessment | $880,120 |
| Land Assessment | $150,000 | Total Assessment | $1,030,120 |
Property Taxes
Parcel Number
075F00270000
Land Assessment
$150,000
Improvements Assessment
$880,120
Total Assessment
$1,030,120
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Midland | 2020 Midland Ave
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