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South Carolina Investor Purchases 84-Unit Multifamily Property In Louisville For $13.35M
SOLD
$13,350,000
Kentucky
See Similar DealsMultiFamily73,752 SF
Sold 03/31/2025
SOLD
South Carolina Investor Purchases 84-Unit Multifamily Property In Louisville For $13.35M
7603 Downs Farm Way
See Similar DealsMultiFamily73,752 SF
Sold 03/31/2025
Summary
KENTUCKY
Asset Type:MultiFamily
Price Per Square Foot:$181
Total Square Footage:73,752 SF
Transaction Type:Sale
The property involved in this transaction is an 84-unit multifamily apartment complex located at 7603 Downs Farm Way in Louisville, KY. The asset was sold for a price of $13,350,000, with a per unit price of $158,929. The total square footage of the property is 73,752, translating to a price per square foot of $181.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $13,350,000
- Units: 84
- Square Feet: 73,752
- Price Per Unit: $158,929
- Price Per Square Foot: $181
- Address: 7603 Downs Farm Way
- Market: Louisville, KY
- Brokers: Aaron Johnson & David Badgett Jr. - Marcus & Millichap
Marcus & Millichap facilitated the sale of the property to an investor based in South Carolina. The brokerage team's involvement highlights the representation of both the buyer and seller throughout the transaction process.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$712,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$47,429.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$63,285.81
Annual Debt Service$759,429.73
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