5.06.2013

Knobs Pointe NOW Available

Learn more about this multifamily and retail opportunity in a strong suburb of Louisville, KY - here



  • Major Rehab in 2011 / 2012: The current owner has expended over $3.4 Million for capital improvements in an extensive rehab of the community. Significant projects include installation of a brand new pool and sundeck, major electrical upgrades, balcony replacements, asphalt resurfacing, replacement of four roofs, and renovation of approximately fifty down units.
  • Outstanding Opportunities to Add Value: Residential rents have been increased several times as property improvements have been completed. Additional value can be created through continuing to upgrade unit interiors. In addition, over 12,000 square feet of commercial space is still available for lease. The seller only recently began seriously marketing of this space, having previously focused on the rehab.
  • In Strong Apartment Market: New Albany, Indiana is located directly across the Ohio River from the city of Louisville. Greater Louisville is a strong apartment market in terms of both rents and occupancies.
  • Increasing Occupancy: Occupancy has steadily climbed since the seller’s acquisition and has averaged 91.3% for the trailing three months through March 2013.
  • Convenient to Downtown Louisville and the Ohio Riverfront: Vibrant downtown Louisville and its many shopping, dining and entertainment options and employment centers are just a fifteen minute drive from the property.

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