Multi Family For Sale

Multi-Family for Sale
Catylist Listing ID: 30749160
Property Subtypes: Low-Rise/Garden
Number of Units: 12 Units
Building Size (RSF): 9,120 SF
Sale Price: $1,080,000
Unit Price: $90,000 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment
Building Name: Wilgus Flats
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Vacation Rental Income: Yes
Last Updated: 7/21/2021

Overview / Comments

Twelve Units - 1 Bedroom 1 Bath
7 of 12 units utilized as AirBNB generating over $1200 per month each greatly exceeding the 2019 average NOI rent of $437.50 per unit. Excellent opportunity for real estate investment with upside strategy in place. Low maintenance units for easy turnover and reduced overhead expense.

2019 NOI was approximately $63,000
Current June 2021 Rent Roll was $14,098 Gross Income, or $169,000 Gross Income Annually

Financials

Finance Data Year 2019
Net Operating Income $63,000 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Lexington-Fayette
County: Fayette
Taxing Authority: LFUCG
Tax ID/APN: 12483300
Zoning: R-3
Property Condition: Excellent
Number of Stories: 2
Year Built: 2017
Parking Type: Surface
Heat Type: Electricity
Heat Source: Heat Pump
Fuel: Electric
Air Conditioning: Package Unit
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 23,309 124,384 249,439
Median Age: 33.8 34.84 35.16
Households: 10,338 53,751 105,625

Contact

Photograph of Listing Agent

David Allen

AreaLEX, LLC KCREA Member
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