A 286-unit high-rise apartment complex in downtown Louisville is being put up for sale

A major apartment complex in downtown Louisville is looking for a new owner.

The 800 Tower City Club Apartments, 800 S. 4th Street, is being marketed for sale by Charlotte, N.C.-based commercial real estate agency Capstone Apartment Partners. 

Built in 1963, the 800 Tower City Club Apartments has 29 floors and 286 units. Its ownership last changed hands in 2015, when Michigan-based City Club Apartments bought the complex for roughly $20 million. According to a press release, current ownership has invested more than $17 million in upgrades, such as a total interior overhaul.

Today, the property is worth more than $32 million, according to the Jefferson County Property Valuation Administrator's website. 

"As we continue to scale our international brand we will be selling certain key assets along the way to help fuel our expansion plans," City Club Apartments said in a statement. "This is an exceptional building in a great location. If sold, we are confident that a new owner will continue to invest in the property as we have since we acquired it in 2015."

According to the press release, the complex features studio, one- and two-bedroom apartment homes and penthouses.

A sale price for the complex has not yet been listed on Capstone Apartment Partners' website.

This announcement follows the sale of another one of the largest apartment complex's in downtown Louisville, Kentucky Towers, which was sold for nearly $18 million in July.

The 800 Tower City Club Apartments was recently at the center of a controversial situation, as an off-duty police officer used a personal drone outside of the building and raised privacy concerns among residents.