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Multifamily

Frankfort Portfolio

565 Schenkel Ln, Frankfort, KY 40601

Listing Price: $16,481,333

Cap Rate
6.56%
Number of Units
228
GRM
7.16
Occupancy
95.0%
Price/Unit
$72,287

Investment Overview

Located in Frankfort, the capital of Kentucky, Country Hills and Riverview Apartments are a 228-Unit Portfolio two miles away from one another. These 1970’s built apartments are located in just minutes from the massive Government complex, and historic central business district.

This 102-unit apartment complex has a contemporary setting and design, located in Frankfort, KY (the state capital) halfway between Louisville and Lexington. Boasting large 1, 2, & 3-bedroom open floor plans, all units feature completely remodeled kitchens that include dishwashers and disposals. The 3-bedroom units feature washer and dryer hookups with 2 full baths. Country Hills has been transformed with $2.5M of capital improvements. This was a complete renovation from kitchens/carpets/bathrooms/floors all the way up to numerous exterior upgrades, including all new balconies, and walkways. All units have new HVAC and water heaters. Country Hills is well poised for future rent growth and should have below average expenses. This complex is situated on 16.37 scenic acres with mature trees, abundant green space, and playground.
There are 10 separate apartment buildings with contemporary style, vinyl siding, and ample parking. The Property has a separate leasing office, maintenance shop, and laundry facility. Furnaces and water heaters are gas. Central AC is electric. Tenants pay own gas and electric, and pay $35/unit towards their water, sewer and trash.

Investment Highlights

  • Located in Kentucky's Capital City
  • 5 Miles from Interstate 64
  • Available at a strong discount to replacement cost
  • Renovated with Hardwood Floors, Upgraded Kitchens, and New Appliances

Exclusively Listed By

Multifamily

Frankfort Portfolio

Listing Price: $16,481,333

Cap Rate
6.56%
Number of Units
228
GRM
7.16
Occupancy
95.0%
Price/Unit
$72,287

Investment Highlights

  • Located in Kentucky's Capital City
  • 5 Miles from Interstate 64
  • Available at a strong discount to replacement cost
  • Renovated with Hardwood Floors, Upgraded Kitchens, and New Appliances

Investment Overview

Located in Frankfort, the capital of Kentucky, Country Hills and Riverview Apartments are a 228-Unit Portfolio two miles away from one another. These 1970’s built apartments are located in just minutes from the massive Government complex, and historic central business district. This 102-unit apartment complex has a contemporary setting and design, located in Frankfort, KY (the state capital) halfway between Louisville and Lexington. Boasting large 1, 2, & 3-bedroom open floor plans, all units feature completely remodeled kitchens that include dishwashers and disposals. The 3-bedroom units feature washer and dryer hookups with 2 full baths. Country Hills has been transformed with $2.5M of capital improvements. This was a complete renovation from kitchens/carpets/bathrooms/floors all the way up to numerous exterior upgrades, including all new balconies, and walkways. All units have new HVAC and water heaters. Country Hills is well poised for future rent growth and should have below average expenses. This complex is situated on 16.37 scenic acres with mature trees, abundant green space, and playground. There are 10 separate apartment buildings with contemporary style, vinyl siding, and ample parking. The Property has a separate leasing office, maintenance shop, and laundry facility. Furnaces and water heaters are gas. Central AC is electric. Tenants pay own gas and electric, and pay $35/unit towards their water, sewer and trash.

Exclusively Listed By

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