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7312 Six Mile Ln
Louisville, KY 40220
Hallmark Apartments · Multifamily Property For Sale
·
48 Units
Investment Highlights
- 45 2BR and 3 1BR units
- Upside potential in rents and RUBS implementation (water)
- Well maintained by long-term owner
- Quality high-demand location/Historically high occupancy
- Recent roof and window replacements
- Coin-op laundry & potential for in-unit washer/dryer hookups
Executive Summary
Long-Term Owner & Established Tenancy
Hallmark Apartments is a well-maintained 48-unit multifamily community located in the highly desirable Hikes Point submarket. Owned and professionally managed by the same long-term owner for many years, the property has consistently achieved strong occupancy levels and demonstrates a proven history of stable operations.
The asset has benefited from significant capital improvements, including the replacement of all roofs and windows in 2021. In addition, a majority of the apartment homes have received interior updates, enhancing both resident appeal and long-term value.
Hallmark Apartments features mostly 2BR apartments, allowing the property to achieve a more enhanced income potential. The community has coin-operated laundry, and the units could accommodate future washer/dryer hookups. The property is separately metered for gas and electric service helping minimize utility expense exposure and contributing to operational efficiency.
High Demand Location
Ideally situated in the sought-after Hikes Point area, the property offers residents convenient access to major retail destinations, employment centers, interstate highways, and a variety of everyday amenities. Its strong location, history of occupancy, and recent capital investments position Hallmark Apartments as an attractive opportunity for investors seeking a stable, well-performing multifamily asset with continued upside potential.
Hallmark Apartments is a well-maintained 48-unit multifamily community located in the highly desirable Hikes Point submarket. Owned and professionally managed by the same long-term owner for many years, the property has consistently achieved strong occupancy levels and demonstrates a proven history of stable operations.
The asset has benefited from significant capital improvements, including the replacement of all roofs and windows in 2021. In addition, a majority of the apartment homes have received interior updates, enhancing both resident appeal and long-term value.
Hallmark Apartments features mostly 2BR apartments, allowing the property to achieve a more enhanced income potential. The community has coin-operated laundry, and the units could accommodate future washer/dryer hookups. The property is separately metered for gas and electric service helping minimize utility expense exposure and contributing to operational efficiency.
High Demand Location
Ideally situated in the sought-after Hikes Point area, the property offers residents convenient access to major retail destinations, employment centers, interstate highways, and a variety of everyday amenities. Its strong location, history of occupancy, and recent capital investments position Hallmark Apartments as an attractive opportunity for investors seeking a stable, well-performing multifamily asset with continued upside potential.
Property Facts
| Sale Type | Investment | Lot Size | 2.59 AC |
| No. Units | 48 | Building Size | 34,800 SF |
| Property Type | Multifamily | Average Occupancy | 98% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Garden | Year Built | 1971 |
| Building Class | C | Parking Ratio | 2.82/1,000 SF |
| Zoning | R7 | ||
| Sale Type | Investment |
| No. Units | 48 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.59 AC |
| Building Size | 34,800 SF |
| Average Occupancy | 98% |
| No. Stories | 3 |
| Year Built | 1971 |
| Parking Ratio | 2.82/1,000 SF |
| Zoning | R7 |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Refrigerator
- Range
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Picnic Area
- Property Manager on Site
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 3 | - | 625 |
| 2+1 | 45 | - | 750 |
Property Taxes
| Parcel Numbers | Improvements Assessment | $3,268,450 | |
| Land Assessment | $480,000 | Total Assessment | $3,748,450 |
Property Taxes
Parcel Numbers
Land Assessment
$480,000
Improvements Assessment
$3,268,450
Total Assessment
$3,748,450
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