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Multifamily

1416 Townley Dr.

1416 Townley Dr, Lexington, KY 40511

Listing Price: Request For Offer

Number of Units
16
Occupancy
91.0%

Investment Overview

Located minutes from downtown Lexington and the University of Kentucky, 1416 Townley Dr. is a rare Value-Add Opportunity for Multifamily Investors. As #29 in the Best Places to Lives by U.S. News & World Report in 2019, Lexington has seen steady rent growth through market cycles and the Covid-19 Pandemic.

Investment Highlights

  • 1416 Townley Dr. property is projected to see a 4.6% Population Growth in the next five years within a three-mile radius.
  • As a Value-Add Opportunity, 1416 Townley Dr. has demonstrated a proven method to raise rents to $620 through the implementation of Section 8 tenants.
  • As a Value-Add Opportunity, market rate rents can be raised by $55 while implementing a $125 Utility Bill-Back program.
  • As an additional Value-Add Opportunity, 1416 Townley Dr. has a basement that is equipped to operate as a Laundry Facility with minor renovations made by Buyer.

Exclusively Listed By

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (513) 878-7733

    License(s) KY: 242197

    Kentucky

Financing By

Listing Price: Request For Offer

Number of Units
16
Occupancy
91.0%

Investment Highlights

  • 1416 Townley Dr. property is projected to see a 4.6% Population Growth in the next five years within a three-mile radius.
  • As a Value-Add Opportunity, 1416 Townley Dr. has demonstrated a proven method to raise rents to $620 through the implementation of Section 8 tenants.
  • As a Value-Add Opportunity, market rate rents can be raised by $55 while implementing a $125 Utility Bill-Back program.
  • As an additional Value-Add Opportunity, 1416 Townley Dr. has a basement that is equipped to operate as a Laundry Facility with minor renovations made by Buyer.

Investment Overview

Located minutes from downtown Lexington and the University of Kentucky, 1416 Townley Dr. is a rare Value-Add Opportunity for Multifamily Investors. As #29 in the Best Places to Lives by U.S. News & World Report in 2019, Lexington has seen steady rent growth through market cycles and the Covid-19 Pandemic.

Exclusively Listed By

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (513) 878-7733

    License(s): KY: 242197

    Kentucky

Financing By

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