24 Unit Complex

Irvington, KY (Breckinridge County)

Front of 104 Landon (building #2)
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Asking Price: Get Financing: $1,300,000

Cash Flow: $100,000

Gross Revenue: N/A

EBITDA: N/A

FF&E: N/A

Inventory: N/A

Real Estate: N/A

Established: 2005

24 Unit Complex

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Business Description

Very Attractive 24 unit Multi Family Apartment Complex (2 buildings) fully updated and meticulously maintained built in 2005 is a terrific investment opportunity with 2018 & 2019 pro forma cap rates reaching 7.8 to 8.2 % and cash flows exceeding $100K. Located in the heart of Irvington Kentucky with clear visibility to the busy US 60 with over 3000 cars per day traffic flow. Currently at 100% occupancy all units feature 2 bedroom, 1 bath, with balcony or patio, tile, well maintained landscaping, newly remodeled with newer paint and carpet. The area is an excellent location, with new roads, close to shopping, and a new elementary school next door and parks. A Great Small Town atmosphere with Beautiful Country Views and rapid growth, only about 22 mins to Fort Knox. Pro Forma Net Operating Income (NOI) projected well in access of $100,000 per year cash flow with Cap Rates of 8 to 10 %. All units offer Dishwasher, Electric Range, Refrigerator and Washer & Dryer, lots of parking and city sewer. Tenants pay all their own utilities except garbage. P&L available upon request.

Detailed Information

Real Estate:
Owned
Included in asking price
Building SF:
10,890
Employees:
N/A
Facilities:
Very Attractive 24 unit Multi Family Apartment Complex (2 buildings) fully updated and meticulously maintained. Built in 2005 Storage/ maintenance shed on site. Connected to city sewer. Paved parking with front sidewalk/curbing Security lighting Located adjacent to local businesses such as Dollar General Store & IGA grocery and New Elementary School.
Competition:
This 24 unit multifamily facility is arguably the best facility of it's type in the area. It is geared toward young professionals with a steady income that are not quite ready to buy a home. It is kept very clean and well maintained with very nice landscaping and adequate parking. Tenants are thoroughly screened and are required to place deposits on the unit as well as utilities. Most other units in the area are marketed towards lower income residents. With lots of green space surrounding the facility it's recognized as a very comfortable and safe place to live.
Growth & Expansion:
The area is seeing renewed growth with improved transportation systems, new businesses and a new elementary school next to the facility.
Financing:
Multi Storage Unit Land available for sale in front of facility.
Support & Training:
Seller/property managers will supply the support and training to buyer if needed.
Reason for Selling:
Consolidating Investments
Business Website:
http://allabouthomesrealty.com
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Scott Coppage

Business Listed By:
Scott Coppage

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