Light on a Hill Apartments

401 Kenilworth Road Louisville, KY 40206

401 Kenilworth Road, Louisville, KY, 40206
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FOR SALE
Property Type:
MultiFamily Apartments
Amount:
$1,250,000
Last Verified:
Nov 15, 2024

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Highlights

  • Located in a densely populated submarket with less than 6% vacancy
  • Fully renovated within the past 6-7 years including mechanical, electrical, and a roof replacement in 2019
  • Current rental rates at less than 75% of comparable assets
  • Close proximity to Clifton, NULU, and Downtown Louisville

Description

The Property was built in 1963, fully renovated between 2016-2022, and consists of a 0.4-acre site improved with 13 fully occupied apartments, 7 of which are 2 BR/1BA and 6 are 1 BR/1BA. Situated along lower Brownsboro Rd, the Property benefits from its premier location in the heart of Louisville, in one of its most desirable submarkets in Louisville given the proximity to Downtown, Clifton, and NuLu.

Clifton Heights is a charming, hillside neighborhood in Louisville, Kentucky, nestled just east of downtown along the Ohio River. Known for its eclectic mix of historic homes, wooded landscapes, and scenic views, Clifton Heights has a cozy, community-oriented feel. The neighborhood attracts residents with its unique blend of suburban tranquility and urban convenience, providing easy access to nearby parks, trails, and the bustling Frankfort Avenue, known for its vibrant mix of local restaurants, coffee shops, and boutiques. With its rich history, lush greenery, and diverse architectural styles, Clifton Heights offers a welcoming atmosphere that appeals to anyone seeking a peaceful, yet connected place to live.


Year Built: 1963
Building Size: 10857sq ft
Lot Size: 0.4 acres

Map of 401 Kenilworth Road, Louisville, KY, 40206

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.