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The Quad Apartments 600 Marshall St 79 Unit Apartment Building For Sale Louisville, KY 40202
Investment Highlights
- ?Newer construction minimizes near-term capital needs and deferred maintenance.
- ?Louisville leads the nation in asking-rent growth at 5.4%.
- ?In-place rents remain approximately 6% below market, creating immediate revenue upside.
- ?Walkable urban location with convenient access to major employers, dining, and entertainment.
Executive Summary
DEAL ROOM & OM: https://www.?marcusmillichap.?com/properties/307547/the-quad
Sale Notes:
Marcus & Millichap is pleased to present the exclusive offering of The Quad Apartments, a 79-unit multifamily community located in downtown Louisville, Kentucky.? Built in 2011, the property is offered at an attractive basis well below replacement cost, providing investors the opportunity to acquire a newer vintage asset in one of Louisville's most walkable urban neighborhoods.?
Constructed within the last fifteen years, The Quad allows new ownership to focus on operational improvements and revenue growth rather than significant capital expenditures.? The property features an in-place average rent of $889 per unit compared to a market rent of $941, representing approximately 6% loss-to-lease.? Additional upside exists through continued occupancy stabilization and strategic management initiatives.?
Ideally situated in the heart of downtown Louisville, The Quad offers residents convenient access to the Louisville CBD, Louisville International Airport, UPS Worldport, and the region's largest employment centers.? The surrounding neighborhood boasts a Walk Score of 87, placing restaurants, entertainment, retail, and daily conveniences within easy walking distance and supporting long-term renter demand.?
Sale Notes:
Marcus & Millichap is pleased to present the exclusive offering of The Quad Apartments, a 79-unit multifamily community located in downtown Louisville, Kentucky.? Built in 2011, the property is offered at an attractive basis well below replacement cost, providing investors the opportunity to acquire a newer vintage asset in one of Louisville's most walkable urban neighborhoods.?
Constructed within the last fifteen years, The Quad allows new ownership to focus on operational improvements and revenue growth rather than significant capital expenditures.? The property features an in-place average rent of $889 per unit compared to a market rent of $941, representing approximately 6% loss-to-lease.? Additional upside exists through continued occupancy stabilization and strategic management initiatives.?
Ideally situated in the heart of downtown Louisville, The Quad offers residents convenient access to the Louisville CBD, Louisville International Airport, UPS Worldport, and the region's largest employment centers.? The surrounding neighborhood boasts a Walk Score of 87, placing restaurants, entertainment, retail, and daily conveniences within easy walking distance and supporting long-term renter demand.?
Property Facts
| Sale Type | Investment | Building Size | 62,753 SF |
| No. Units | 79 | Average Occupancy | 90% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built/Renovated | 2011/2015 |
| Apartment Style | Low-Rise | Parking Ratio | 1.13/1,000 SF |
| Building Class | B | Opportunity Zone |
Yes
|
| Lot Size | 0.59 AC |
| Sale Type | Investment |
| No. Units | 79 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.59 AC |
| Building Size | 62,753 SF |
| Average Occupancy | 90% |
| No. Stories | 3 |
| Year Built/Renovated | 2011/2015 |
| Parking Ratio | 1.13/1,000 SF |
| Opportunity Zone |
Yes |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Microwave
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Carpet
- Freezer
- Patio
- Wheelchair Accessible (Rooms)
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Gated
- Furnished Units Available
- Recycling
- Bicycle Storage
- Elevator
- Maintenance on site
- Online Services
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 55 | - | 364 - 425 |
| 1+1 | 15 | - | 525 - 658 |
| 2+1 | 8 | - | 750 - 760 |
| 3+3 | 1 | - | 1,450 |
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Very walkable
80/100
Moderately drivable
70/100
Good public transit
60/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 017V01520000 | Improvements Assessment | $7,381,000 |
| Land Assessment | $869,000 | Total Assessment | $8,250,000 |
Property Taxes
Parcel Number
017V01520000
Land Assessment
$869,000
Improvements Assessment
$7,381,000
Total Assessment
$8,250,000
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