Catylist ID:
#30875448
Frankfort, KY Multifamily Portfolio FOR SALE - 10 Units
Multi-Family
for Sale
| Catylist Listing ID: | 30875448 |
| Property Subtypes: | Duplex/Fourplex |
| Number of Units: | 10 Units |
| Building Size (RSF): | 7,254 SF |
| Gross Building Area: | See Agent |
| Sale Price: | $950,000 |
| Unit Price: | $95,000 Per Unit |
| Property Use Type: | Investment |
| Sale Terms: | Cash to Seller |
| Cap Rate: | Undisclosed |
| Last Updated: | 8/14/2024 |
Overview / Comments
|
We are pleased to present this exceptional multifamily portfolio nestled in the heart of Frankfort, KY, featuring a total of 3 duplexes and 1 fourplex, all fully occupied. Strategically located and meticulously maintained, this investment opportunity offers a diverse mix of unit types to meet various tenant needs. 404 Swigert Avenue: Two units, each offering 2 bedrooms and 1 bathroom. 101-103 Swigert Avenue: Two units, each offering 1 bedroom and 1 bathroom. 215-217 W Todd Street: Two units, each offering 1 bedroom and 1 bathroom. 221 W Todd Street: A fourplex with four units, each offering 1 bedroom and 1 bathroom. The entire portfolio is currently 100% occupied, reflecting strong tenant demand in the area. Recent capital improvements totaling approximately $250,000 have enhanced the properties, ensuring they are in excellent condition and poised for sustained income generation. Located in a desirable neighborhood with convenient access to local amenities and transportation routes, these stabilized properties offer a solid foundation for immediate cash flow. With a proven rental history and stable occupancy, they present an attractive opportunity for an investor looking to expand their portfolio in Frankfort's thriving rental market. Highlights: 215-217 W Todd St - 1,623 SF Duplex. 100% Occupied. Each unit offers 2 bedrooms and 1 bathroom. Approx. $50K in capital improvements including new roof, updating siding, exterior and interior paint, framing and joist repairs, flooring, new concrete footers, and plumbing fixtures. 221 W Todd Street, Frankfort - 3,063 SF Fourplex. 100% Occupied. Each unit offers 1 bedroom and 1 bathroom. Approx. $60K in capital improvements including new roof, siding, light fixtures, heaters, and new exterior rails and paint. 404 Swigert Avenue, Frankfort - 1,488 SF Duplex. 100% Occupied. Each unit offers 2 bedrooms and 1 bathroom. Approx. $90K in capital improvements which includes a full renovation of the property in 2021. 101-103 Swigert Avenue, Frankfort - 1,080 SF Duplex. 100% Occupied. Each unit offers 1 bedroom and 1 bathroom. Approx. 50K in capital improvements including new roof (2021), appliances, countertops, water heaters, AC, updated electric, framing and joist repairs, bathtubs, flooring, siding, light fixtures and exterior repairs. |
Attachments & Media
Additional Details
| Nearest MSA: | Frankfort |
| County: | Franklin |
| Tax ID/APN: | 074-11-03-012.00 |
| Zoning: | MULTIFAMILY |
| Percent Occupied: | 100% |
| Area Description: | As the capital of Kentucky, Frankfort welcomes its guests with amazing architecture, rich history and fantastic shopping. The downtown area has great restaurants and is also the location of the Convention Center. Frankfort offers 3 public high schools, and is the home to Kentucky State University. Frankfort's city limits are approximately 50 miles east of Louisville and 25 miles west of Lexington. Easily accessible to Interstate 64 and Interstate 75. Frankfort's centralized location positions our city between three major airports: Lexington Bluegrass Airport, 30 minutes; Louisville International Airport, 50 minutes; and Cincinnati/Northern Kentucky International Airport, 1 hour 15 minutes. |
| Total Number of Buildings: | 4 |
| Property Condition: | Excellent |
| Year Renovated: | 2024 |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 2,950 | 25,055 | 41,572 |
| Median Age: | 39.53 | 37.75 | 38.87 |
| Households: | 1,480 | 10,828 | 17,579 |
| © Copyright 2024 Moody's. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Kentucky Commercial Real Estate Alliance nor Moody's assume any liability for errors or omissions. |
