APARTMENTS

Multi-Family for Sale
Catylist Listing ID: 30827595
Property Subtypes: Low-Rise/Garden
Number of Units: 169 Units
Building Size (RSF): 160,000 SF
Gross Building Area: See Agent
Sale Price: $12,500,000
Unit Price: $73,964.50 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 2/2/2023

Overview / Comments

REDUCED!! EXCELLENT INVESTMENT OPPORTUNITY!! (169) Apartment units very conveniently located just off I 75, in the city of Richmond, the home of Eastern Kentucky University. There are (34) one bedroom units, (134) two bedroom units, and (1) four bedroom unit. All utilities are metered separately, and the tenants pay all of their own utilities, except for 1634 Foxhaven (12 one bedroom units) which has separate electric meters, but not water meters, and the landlord pays for their water and sewer. Many of the apartments have balconies over looking the golf course at the University Golf Club at Arlington. Several units are rented at below current market rates. This listing consist of 27 apartment buildings, all in very close proximity to each other. The actual addresses: 1633, 1634, 1635, 1637, 1639, 1641, 1642, 1643, 1644, 1645, 1646, 1647, 1649, 1651, 1656, 1660, 1662, 1664, 1665, 1667, 1669, & 1671 Foxhaven Drive, and 1657, 1661, & 1663 Foxhaven Court. Co-listing broker: Ben H. Campbell, Ben Campbell Realtor Inc., 361 Duke Rd. Lexington, KY. Co-listing Agent: Will Campbell 859-221-9206

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Additional Details

Nearest MSA: Richmond-Berea
County: Madison
Taxing Authority: Madison County
Tax ID/APN: 22 parcels see Agent Notes
Zoning: B-3
Percent Occupied: 90%
Total Number of Buildings: 27
Property Condition: Average
Number of Stories: 2
Year Built: 1975
Roof Type: Gable
Construction/Siding: Brick
Parking Type: Surface
Sprinklers: None
Heat Type: Electricity
Fuel: Electric
Zoning Description: B-3
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,269 33,488 40,950
Median Age: 31.08 31.97 32.66
Households: 1,916 13,082 16,066

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