1100 Horsemans Lane

Multi-Family for Sale
Catylist Listing ID: 30258530
Property Subtypes: Low-Rise/Garden
Number of Units: 12 Units
Building Size (RSF): 17,796 SF
Gross Building Area: See Agent
Sale Price: $1,616,000
Unit Price: $134,666.67 Per Unit
Property Use Type: Investment
Sale Terms: Other
Cap Rate: Undisclosed
Last Updated: 4/16/2018

Overview / Comments

RARE student housing opportunity at the University of Kentucky. The offering includes 12 town homes that are each 3 bed/3 bath and have maintained 100% occupancy. This asset is competitively priced at $1,616,000 with an in place NOI of $117,219.00.

Additional Details

Nearest MSA: Lexington-Fayette
County: Fayette
Zoning: R-3
Site Description: Rare University of Kentucky Student Housing 12 Units: 36 beds/36 baths $1,616,000 7.25% Cap Rate Maintains 100% Occupancy Value-Add Opportunity Through Increasing Rents 100% Pre-Leased for 2018-2019 School Year
Area Description: 1100 Horsemans Lane is located within close proximity to the University of Kentucky in Lexington, KY. The property has served as student housing because of its ease of access to and from campus. Neighboring apartment communities are almost exclusively student housing, which is the highest and best use for the area. As the University of Kentucky continues to expand, multifamily assets have maintained stable occupancy and have supported rent increases.
Number of Stories: 2
Year Built: 1986
Year Renovated: 2017

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 18,177 111,656 237,182
Median Age: 28.45 35.2 35.28
Households: 7,898 46,331 100,605
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