Frontgate Apartments
Louisville, KY
Frontgate Apartments is a 212-unit Class A market-rate apartment community, built in 2020 located in the highly desirable submarket of South Jefferson County, in Louisville, Kentucky.
2020
212
1,125 SF
Investment Highlights
7400 SNOW BEND AVE,
LOUISVILLE, KY 40228
Frontgate Apartments is a 212-unit Class A multifamily community built in 2020 and located in the South Jefferson County submarket of Louisville, Kentucky. The property features a mix of one-, two-, and three-bedroom units averaging 1,125 square feet, with high-end finishes, a resort-style pool, 24-hour fitness center, dog spa, and gated entry. The asset is being acquired for $38,250,000 ($180K/unit).
A central advantage of the investment is the existing HUD loan, which will be assumed at closing at a fixed rate of 3.92% with 36 years of remaining term, approximately 165 basis points below current market rates. Additional value creation comes from in-unit washer/dryer installations ($40/unit/month) and a bulk internet program ($25/unit/month net), both of which generate incremental income independent of market rent growth.
CONTACT
Tim Donovan
414.795.5849
tim@midloch.com
CONTACT
Gabriella Garcia
312.625.7162
gabriella@midloch.com