1005 Airport Rd | Fulton, KY 42041
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- LoopNet Team
1005 Airport Rd
Fulton, KY 42041
Cash-Flowing Renovated 48-Unit Multifamily · Multifamily Property For Sale
·
46 Units
INVESTMENT HIGHLIGHTS
- Recently renovated two-building, 48-unit multifamily asset with strong in-place cash flow and significant operational upside.
- Over 90% of the property was renovated in 2024, including a new roof, parking lot resurfacing, hardwood floors, carpet replacement, paint, & cabinets.
- Rents are currently at or below market rates compared to nearby assets, an additional rent bumps in the coming year will produce greater revenue.
- Asset comprises 45 occupiable units with three units being utilized as administrative/storage areas, which could be converted to occupiable units.
- One of the three additional units is utilized as a laundry facility, which produces roughly $2,500 per year in additional income.
PROPERTY FACTS
| No. Units | 46 | Lot Size | 4.00 AC |
| Property Type | Multifamily | Building Size | 41,424 SF |
| Property Subtype | Apartment | Average Occupancy | 90% |
| Apartment Style | Low-Rise | No. Stories | 2 |
| Building Class | C | Year Built/Renovated | 1977/2024 |
| No. Units | 46 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 4.00 AC |
| Building Size | 41,424 SF |
| Average Occupancy | 90% |
| No. Stories | 2 |
| Year Built/Renovated | 1977/2024 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Range
- Tub/Shower
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 16 | $525.00 | 408 |
| 1+1 | 15 | $550.00 | 546 |
| 2+1 | 15 | $675.00 | 709 |
PROPERTY TAXES
| Parcel Number | 57-33 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $860,000 |
PROPERTY TAXES
Parcel Number
57-33
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$860,000
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