3632 Manslick Rd, Louisville, KY 40215 – 1690042 - Tommy Arnold

$2,500,000

$2,649,500

5.6%

Est.Price: ?

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Est. payment -/mo

14,202 SqFt

SOLD DATE : 09/30/2025

Key Details

Sold Price $2,500,000

Property Type Multi-Family

Sub Type Apartment

Listing Status Sold

Purchase Type For Sale

Square Footage 14,202 sqft

Price per Sqft $176

MLS Listing ID 1690042

Sold Date 09/30/25

HOA Y/N No

Abv Grd Liv Area 14,202

Year Built 1961

Property Sub-Type Apartment

Source APEX MLS (Greater Louisville Association of REALTORS®)

Land Area 14202

Property Description

In Place 10+ Cap Rate.

This turnkey, stabilized investment opportunity consists of 34 studio units that have been gutted down to the studs and completely renovated with new plumbing, electrical, mini-split heating/cooling systems, LVP flooring, granite counters, stainless appliances, and more. Plus, a tax moratorium is in place through 2029 and transferable to the new owner.

Most rents are at $976/month, with potential to increase over time. Expenses are low due to high efficiency tankless water heaters, mini-splits, and newly renovated units. The property has been stabilized since winter, and is projected to produce well over $300K in NOI this year.

The units are separately metered for LG&E, and are efficiently sized for quick and easy turns. There is also off street parking. This property presents an excellent opportunity to invest in a stabilized, cash flowing, low maintenance multifamily asset.

Highlights include:

> 34 fully gutted and renovated studio units

> Separate meters for LG&E

> High efficiency mini-splits and tankless water heaters

> Cash flowing asset, projected 10+ cap rate with in place financials