This HAP contract property recently sold for $6.65M, or $63,942 per unit.
Shepherdsville Village Apartments I & II is a 104-unit multifamily Apartment building located in Shepherdsville, KY. The community offers a great mix of (40) 1-bedroom, (48) 2-bedroom, and (16) 3-bedroom units, and the property operates under a Section 8 HAP Contract under which covers all 104 units.
Shepherdsville is located under ten-miles from the southern end of Louisville, KY. Within Shepherdsville itself, the community is located on the northwest quadrant, between I-65 and KY-44, two major routes. Where they meet, there is a small corridor that includes dining options, grocery stores, a Walgreens, and a handful of recreational options. Two-miles south of the property, a resident of Shepherdsville Village can take advantage of the YMCA, Go-Kart Track, or the Ridgeway Memorial Library. To the west of the property, a resident of Shepherdsville Village can find the Country Music Venue which has had a presence in the community for over forty years and offers entertainment that they describe as a family atmosphere.
Given the proximity to Louisville, there are plentiful opportunities for employment amongst several sectors for residents of Shepherdsville Village Apartments. Over recent years, the educational, health, construction, manufacturing, and trade sectors have all added jobs within Louisville. UPS uses Louisville as its worldwide air hub and accounts for over 20% of total employment. The presence of Fort Knox to the southwest of the property adds to the government employment within the area and acts as an additional stabilizing force.
About The LIHTC Group: The LIHTC Group is a national brokerage and consulting firm that works exclusively with multi-family assets in both the Affordable Housing and Market Rate sector. With offices in Illinois, Florida, and California, The LIHTC Group has far-reaching relationships with both local and national groups. These relationships include pension funds, private family offices, national REITS, and nonprofits, as well as small private investors and syndicators of both Affordable and Market Rate assets. The LIHTC Group uses a proven systematic approach to reaching out to the marketplace in order to maximize value on behalf of their clients — both buyers and sellers.