|Catylist Listing ID:
|Number of Units:
|Building Size (RSF):
|Gross Building Area:
||$37,254.90 Per Unit
|Property Use Type:
|Average Occupancy Rate:
Overview / Comments
Vista is the gold standard of quiet apartments near the retail center of Radcliff, Kentucky. Unique five story solid concrete property attracts tenants
due to its sound suppression quality, security, and great location. This former nursing home, built in 1986 is the tallest building in Radcliff. Fort Knox is home to our nation's gold, and an economic powerhouse. Radcliff is the suburb built around the main gate to Fort Knox. However only 10 percent of the units at Vista Apartments are currently rented by enlisted personnel. Owners pay all utilities and self manage the property from out of town. Meanwhile new development has proven the $1/sq ft rental market in Radcliff. Class A properties are full, proving a strong demand exists for quality rehabs. Vista Apartments consists of 102 units with walk in closets, multiple common rooms, storage areas, and a very large recreation room. By purchasing this property under $40k/door and fully rehabbing at ~$10K/door, a buyer should be able to compete for the top tenants at far less than cost of new construction. Buyer might consider adding carports to the Vista parking lot to further entice top tier renters, and push NOI.
Full Architectural drawings, and a 2017 Clean Phase 1 is available to buyer.
|Property Located Between:
||Next to Fort Knox Military Base
|Total Number of Buildings:
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