UNITS: 9 | YEAR BUILT: 1968 | AVERAGE SQFT: 925
Marcus and Millichap is pleased to present The Wetlands, a nine-unit apartment building located in the desirable Highlands neighborhood of Louisville. This provides an investor a great value-add opportunity in an area with access to top-notch employment.
VALUE ADD OPPORTUNITY
The new owner can take advantage of the value add opportunity of this property’s prime location. Converting these rental units to luxury apartments will provide an incoming investor with over $500 premium on rents and capturing a 44% ROI on unit upgrades.
The forced appreciation from unit upgrades will provide the new owner with enough equity buildup to refinance the property and return the original equity investment.
ACCESS TO TOP-NOTCH EMPLOYMENT
Louisville, Kentucky is home to three Fortune 500 companies. Companies are drawn to the region’s low cost of doing business. Some of the largest employers in the area include Yum! Brands, Kindred Healthcare, Humana, and Ford. It is also home to UPS Worldport, the world’s largest package handling facility.