569 Cornell Ave
Mount Washington, KY 40047
Dove Field Manor Apartments · Multifamily Property For Sale · 40 Units

Capstone Apartment Partners is pleased to offer the opportunity to acquire Dove Field Manor: a well-performing, all brick constructed, 40-unit asset built in 2005. This garden apartment community is conveniently situated in Mount Washington, KY, a suburban submarket of Louisville, located in Bullitt County, KY. The immediate submarket provides healthy demographic support through the excellent regional connectivity, key Louisville employers, and exceptional surrounding retail options. This age-restricted property is sanctioned under the Section 42 Affordability Program with the clear opportunity to boost NOI by increasing rents to the 50% AMI limits, which rest approximately $203 above current rent levels. Dove Field Manor also benefits from a favorable utility structure and limited deferred maintenance due to the exceptional care and quality oversight of the current owner. With current rents trailing the 50% AMI limits, Dove Field Manor will continue to benefit from organic rent growth while also providing new ownership with a uniquely-positioned asset primed to benefit from a systematic value-add program.