Turnkey Asset: Ashton Brook offers investors 274 turnkey units that have been renovated with hardwood floors, granite countertops, stainless steel appliances, window & door replacements, and roofing and gutter replacements.
Loss-to-Lease Burnoff: Recent Leases have been renting for roughly $50 more than in-place rents on average. New ownership will have the opportunity to organically increase income through loss-to-lease burnoff.
Rent Growth Opportunity: Ashton Brook is over $300+ below rent of nearby properties. New ownership will be able to increase rents and capitalize on the demand to potentially increase NOI. Submarket rents are anticipated to grow by 9.5% in 2022 and 5.4% in 2023, according to CoStar projections. Submarket rents have grown 53.9% in the last 10 years, ahead of the long-term performance of the Louisville metro at 38.3%.
Louisville Employers Expanding: Multiple major employers are in expanding throughout Louisville, including:
Constant Louisville Development: Louisville’s thriving economy has led to over 200 projects under construction or proposed, examples include:
Access to Louisville’s Premier Retail Centers: Ashton Brook is ideally positioned near Louisville’s premier shopping opportunities, including:
Proximity to Staple Louisville Employers: Ashton Brook is a convenient commute to Louisville’s largest and most significant employers, including:
High Barrier to Entry for Homebuyers: Home values in the 40222 zip code average over $355,000, making homeownership unattainable for many residents in this area. The amount of for-sale inventory remains historically low and pushing home prices to new highs. This will likely keep those looking to purchase a home in the renter pool for now, according to CoStar.
Nationally Ranked Metro: Louisville has gained national attention due to its growing economy and lifestyle, including:
#2 – Busiest US Cargo Airport (aci)
#2 – Metro Areas with the Most Profitable Businesses (lendingtree)
#4 – Cities with the Happiest Workers (cnbc)
#6 – Best Cities for Remote Workers (highspeedinterent)
#8 – Best Cities for College Grads (smartasset)
THIS CONFIDENTIALITY AND BROKERAGE AGREEMENT ("Agreement") is made and agreed to by you ("Prospective Buyer") for the benefit of THE KIRKLAND COMPANY ("Broker"), with respect to certain real property ("Ashton Brook") located in Louisville, Kentucky.
BACKGROUND:
1 The Offering Memorandum has been prepared by Broker for use by a limited number of parties and does not purport to provide a necessarily accurate summary of the Property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information which prospective buyer may need or desire. All projections have been developed by Broker and designated sources and are based upon assumptions relating to the general economy, competition, and other factors beyond the control of the Owner and therefore are subject to variation.
NOW THEREFORE, the parties agree, in consideration of the covenants and agreements contained herein, as follows:
By submitting this form, you have acknowledged, read, and agreed to this above Confidentiality and Brokerage Agreement.
THIS CONFIDENTIALITY AND BROKERAGE AGREEMENT ("Agreement") is made and agreed to by and between THE KIRKLAND COMPANY ("Broker"), and "Prospective Buyer" with respect to the sale of certain real property located in Louisville, Kentucky and known as Ashton Brook (“Property”).
NOW THEREFORE, the parties agree, in consideration of the covenants and agreements contained herein, as follows: