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512 W Ormsby Ave
Louisville, KY 40203
Lofts on Ormsby · Multifamily Property For Sale
·
128 Units
Investment Highlights
- Top quality upgraded property in fantastic area with upside.
- Separate gated Parking Lot
- Premier amenity package includes heated swimming pool
Executive Summary
This seven-story property offers a mix of studio and one-bedroom apartments, modernized with a heated swimming pool, new recreational rooms, a business center, high-speed internet access, secure entryways, and updated elevators.
Property Facts
| Price Per Unit | $78,125 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.75 AC |
| Cap Rate | 6.25% | Building Size | 83,987 SF |
| No. Units | 128 | Average Occupancy | 95% |
| Property Type | Multifamily | No. Stories | 7 |
| Property Subtype | Apartment | Year Built/Renovated | 1950/2021 |
| Apartment Style | Mid-Rise | Parking Ratio | 0.58/1,000 SF |
| Zoning | TNZD - Historical Old Louisville | ||
| Price Per Unit | $78,125 |
| Sale Type | Investment |
| Cap Rate | 6.25% |
| No. Units | 128 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.75 AC |
| Building Size | 83,987 SF |
| Average Occupancy | 95% |
| No. Stories | 7 |
| Year Built/Renovated | 1950/2021 |
| Parking Ratio | 0.58/1,000 SF |
| Zoning | TNZD - Historical Old Louisville |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Heating
- Ceiling Fans
- High Speed Internet Access
- Refrigerator
- Range
- Tub/Shower
- Walk-In Closets
- Carpet
- Vinyl Flooring
- Window Coverings
Site Amenities
- Business Center
- Controlled Access
- Clubhouse
- Fitness Center
- Laundry Facilities
- Property Manager on Site
- Gated
- Grill
- Package Service
- Storage Space
- Elevator
- Lounge
- Maintenance on site
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 99 | - | 396 - 450 |
| 1+1 | 28 | - | 450 |
| 2+1 | 1 | - | 750 |
Property Taxes
| Parcel Number | 032D00220000 | Improvements Assessment | $8,251,000 |
| Land Assessment | $240,000 | Total Assessment | $8,491,000 |
Property Taxes
Parcel Number
032D00220000
Land Assessment
$240,000
Improvements Assessment
$8,251,000
Total Assessment
$8,491,000
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