8828 Moody

    Louisville, KY 40219
    • $895,000
    • STATUS: Active
    • ON SITE: 23 days
    • ID#: 1541026
    UPDATED: 22 min ago
    $895,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 9,158
      SQFT
    • $98
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    2005
    County:

    School Ratings & Info

    Description

    On behalf of the owner, The Chesser Companies are pleased to present this high quality 8 unit multifamily investment opportunity located within Hickory Trace Apartments, a partially developed Class A multifamily community. Qualified investors are presented with a unique opportunity to capture discounted management cost efficiencies in concert with the adjacent performing apartments. Built in 2008, this property continues to succeed due to substantial trends of increased rental demand. This professionally managed asset is in position to be a strong performer for many years.The units at Hickory Trace are uniquely equipped with many attractive amenities that generate substantial resident satisfaction and long-term tenancy. Each unit is equipped with gas fireplaces, black GE kitchen appliances (dishwashers, electric ranges, microwaves, and refrigerators), along with laundry hookups. Each of the units boast two spacious bedrooms, two full bathrooms, a generous living room along with a private balcony or patio area with additional exterior storage. Residents enjoy above average storage space within the units with copious amounts of closet space. All existing units provide 1,100 square feet of living space. Investment Highlights: -Located within the High Growth Corridor Near I-65 & I-265 A great deal of manufacturing and other employment is located along the I-65 corridor. Hickory Trace sits just east of I-65 and north of I-265 (Gene Snyder Freeway), which allows for convenient access to employment, shopping, dining and other area amenities. -Value Add Potential Existing units additionally have upside in rents where a new owner could add value. This building consists of one current down unit in need of about $20K buildout and all current performing units are slightly below market. This is an immediate opportunity for new owner to capture full market rent on the newly renovated unit and to implement a business plan for growth across the remaining units. -Well Maintained Existing Units with Healthy Cash Flow Existing units are all 2BR/2BA comprising of 1,100 SF. On average, the units rent for $900/unit ($.81/SF) and market rent is estimate to be $930/unit ($.84/SF). Avg. unit size: 1,100SF Unit Mix: 2BR/2BA Parking: 12 Spaces Laundry: In Units

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    © 2019 Greater Louisville Association of Realtors. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The Sokoler-Medley Team - RE/MAX Properties East. Data last updated: 2019-09-15T10:58:22.24.
    www.louisvillepropertyonline.com/homes/98218986

    8828 Moody Louisville, KY 40219

    • Price: $895,000
    • Status: Active
    • Updated: 22 min ago
    • ID#: 1541026
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    9,158
    SQFT
    $98
    $/SQFT
    2005
    Built
    Neighborhood:
    None
    County:
    Jefferson
    Area:
    Buechel/Highview/Okolona/Fern Creek
    Property Description
    On behalf of the owner, The Chesser Companies are pleased to present this high quality 8 unit multifamily investment opportunity located within Hickory Trace Apartments, a partially developed Class A multifamily community. Qualified investors are presented with a unique opportunity to capture discounted management cost efficiencies in concert with the adjacent performing apartments. Built in 2008, this property continues to succeed due to substantial trends of increased rental demand. This professionally managed asset is in position to be a strong performer for many years.The units at Hickory Trace are uniquely equipped with many attractive amenities that generate substantial resident satisfaction and long-term tenancy. Each unit is equipped with gas fireplaces, black GE kitchen appliances (dishwashers, electric ranges, microwaves, and refrigerators), along with laundry hookups. Each of the units boast two spacious bedrooms, two full bathrooms, a generous living room along with a private balcony or patio area with additional exterior storage. Residents enjoy above average storage space within the units with copious amounts of closet space. All existing units provide 1,100 square feet of living space. Investment Highlights: -Located within the High Growth Corridor Near I-65 & I-265 A great deal of manufacturing and other employment is located along the I-65 corridor. Hickory Trace sits just east of I-65 and north of I-265 (Gene Snyder Freeway), which allows for convenient access to employment, shopping, dining and other area amenities. -Value Add Potential Existing units additionally have upside in rents where a new owner could add value. This building consists of one current down unit in need of about $20K buildout and all current performing units are slightly below market. This is an immediate opportunity for new owner to capture full market rent on the newly renovated unit and to implement a business plan for growth across the remaining units. -Well Maintained Existing Units with Healthy Cash Flow Existing units are all 2BR/2BA comprising of 1,100 SF. On average, the units rent for $900/unit ($.81/SF) and market rent is estimate to be $930/unit ($.84/SF). Avg. unit size: 1,100SF Unit Mix: 2BR/2BA Parking: 12 Spaces Laundry: In Units
    Exterior Features

    Construction BrickBrk/VenFrame - Wood Covered Parking No Exterior BalconyPatio Lot Size 00 Parking Spaces 12.0 Roof PitchedShingle

    Interior Features

    1st Level Bedrooms 2 1st Level Full Baths 2 1st Level Partial Baths 0 1st Level Total Units 4 2nd Level Bedrooms 2 2nd Level Full Baths 2 2nd Level Total Units 4 Above Grade Finished 9158.00 Above Grade Unfin 0.00 Below Grade Finished 0.00 Below Grade Unfin 0.00 Energy Central AirForced Air HeatGas Heat Nonconform Sq Ft Fin 0.00 Sqft Total Unfin 0.00 Total Units 8.0000 Water Heaters 8.0000

    Property Features

    City Tax 00 County Tax 00 Disclosure Yes Flood Plain No Furnaces 8.00 Lease Term 12 Months Multifamily Sub Type Apartment Owner Pays Trash RemovalWater Security Deposit Yes Separate Meters Yes Sq Ft Source Other Tenant Pays ElectricGas Utilities City SewerCity Water

    Listing provided courtesy of The Chesser Companies. © 2019 Metro Search, Inc. All rights reserved.


    © 2019 Greater Louisville Association of Realtors. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The Sokoler-Medley Team - RE/MAX Properties East. Data last updated: 2019-09-15T10:58:22.24.
     
    The Sokoler-Medley Team - RE/MAX Properties East
    10525 Timberwood Circle
    Louisville KY, 40223