Catylist ID: #30165861
Central Kentucky Multifamily Portfolio
Multi-Family for Sale
|Catylist Listing ID:||30165861|
|Number of Units:||126 Units|
|Building Size (RSF):||92,076 SF|
|Gross Building Area:||See Agent|
|Unit Price:||$38,000 Per Unit|
|Property Use Type:||Investment|
|Sale Terms:||Cash to Seller|
Overview / Comments
Leawood Square and Leawood Townhomes are adjacent multifamily opportunities in Kentucky’s state capitol city of Frankfort. The two separate properties are well located in high demand areas of the sub-market, and have undergone varying amounts of improvements with meaningful upside still available for a purchaser.
The total portfolio is comprised of 126 total units in two contiguous properties.
Leawood Square is a 78 unit, separately metered property with all new electric
furnaces and other significant upgrades. Leawood Townhomes is a 48 unit asset
with large, 2 bedroom townhomes, and is 1990’s construction with separately
metered utilities and a newer roof.
These assets are well located near quality retail, downtown Frankfort and the State Capitol Buildings. Both properties currently enjoy strong occupancy, but also have below market rental rates. This presents the opportunity for an investor to enjoy economies of scale in a stable sub-market.
-126 Total Units between two properties
-Significant upgrades including mechanicals, roofs, interiors
-Almost all units separately metered HVAC
-Priced at $4,788,000; well below replacement cost
|Proximity:||1 mile||3 miles||5 miles|
Reed B WeinbergPRG Commercial Property Advisors
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