Overview
Silvestri Real Estate presents the exclusive listing for Union at JTown Apartments, a 131-unit multifamily asset strategically located in Louisville's desirable Jeffersontown submarket. This property offers a compelling opportunity for investors seeking strong, immediate returns and future growth.
Union at JTown has an attractive in-place loan that can be assumed with the possibility of an additional supplemental. Basic loan terms details:
- Originated April, 2020 | Matures May 2032
- 12-year term
- 7-years I.O. (approximately 1.5 years remaining)
- 3.11% Interest Rate
- $7,597,000 loan balance
- Lender: CBRE Capital Markets
- Fannie Mae
Property Video
Investment Highlights
Current ownership has invested over $3 million in capital improvements since 2020, transforming the property and eliminating deferred maintenance. Renovations include premium finishes like stone countertops, stainless steel appliances, modern cabinetry, and washer/dryer connections. This extensive upgrade allows a new owner to immediately benefit from a well-maintained, stabilized asset and focus on efficient operations.
The asset is currently under-rented, with in-place effective rents $55 below market rate. A new owner can organically bridge this gap, capturing significant upside and increasing the property's cash flow without additional capital improvements.
Union at JTown consists of two parcels: 77-units on Sprowl Road and 54-units on nearby Grand Avenue, located less than half-mile apart. This duel-parcel structure offers operational flexibility while capturing a significant presence in the Jeffersontown market.
Unit Mix
Photo Gallery
