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The Kirkland Company Brokers $18 Million Sale Of 128-Unit Multifamily Asset In Louisville

Property Image
SOLD
$18,000,000

Kentucky

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MultiFamily
Sold 02/13/2025
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Property Image
SOLD

The Kirkland Company Brokers $18 Million Sale Of 128-Unit Multifamily Asset In Louisville

1031 Everett Avenue

See Similar Deals
MultiFamily
Sold 02/13/2025
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Summary

KENTUCKY
Asset Type:MultiFamily
Transaction Type:Sale

The transaction involved a multi-family asset located at 1031 Everett Avenue in Louisville, KY. The sale was completed for a total amount of $18 million, encompassing 128 units with a price per unit of $140,625. The property, built in 1966, offers various types of units including studio, one-, and two-bedroom options. Amenities featured at the complex include a pool, dog park, and coffee bar.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $18,000,000
  • Units: 128
  • Price Per Unit: $140,625
  • Address: 1031 Everett Avenue
  • Market: Louisville, KY

The Kirkland Company was instrumental in brokering this transaction with key brokers Brandon Wilson, Brian Devlin, and John Seale representing the interests in the deal. The Avenue in the Highlands, the property involved in the sale, is situated in Louisville's Highlands neighborhood.

Players

Brian Devlin
2 deals$44.5M volume
BROKER

Brandon Wilson
The Kirkland Company
3 deals$326.5M volume
BROKER

John Seale
The Kirkland Company
1 deal$18M volume(502) 837-4104
BROKER

Details

SOLD
IMAGE: 02/13/2025 ADDRESS: 1031 Everett Avenue MARKET: Louisville, KY ASSET TYPE: MultiFamily BROKERS: Brandon Wilson, Brian Devlin & John Seale - The Kirkland Company SALE PRICE: $18,000,000 UNITS: 128 ~ PPU: $140,625 NOTE: The Kirkland Co. brokered the $18 million sale of The Avenue in the Highlands, a 128-unit apartment complex in Louisville’s Highlands neighborhood. The 1966-built property offers studio, one-, and two-bedroom units, along with amenities including a pool, dog park, and coffee bar.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$960,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$63,950.20
Cash-on-Cash Return-1.27%
Monthly Debt Service$85,329.18
Annual Debt Service$1,023,950.20