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Revive at 1749 1749 Liberty Rd 105 Unit Apartment Building For Sale Lexington, KY 40505
Investment Highlights
- WELL-LOCATED ASSET WITH RECENT CAPEX OFFERING
- SUPERIOR SUBMARKET FUNDAMENTALS IN LEXINGTON
- EXTREMELY ATTRACTIVE BASIS WITH IMMENSE OPERATIONAL UPSIDE
Executive Summary
Revive 1749, a 104-unit garden-style community located in Lexington, Kentucky, offers investors an opportunity to acquire a stabilized, well-positioned asset
with both immediate and long-term upside potential. Situated in one of Lexington’s most desirable neighborhoods, the property combines strong in-place
performance with compelling market fundamentals and significant recent capital investment. Revive 1749 has been substantially renovated in the last 3 years,
and stands as a durable asset with updated systems, attractive curb appeal, and a favorable unit mix aligned with local renter demand. Revive 1749 benefits
from superior market dynamics, including a 97.4% submarket occupancy rate, 5.7% year-over-year rent growth and immediate proximity to high-traffic, premier
retail and lifestyle destinations. Ownership has recently invested $1.4 million on capital improvements and the asset is positioned for substantial revenue growth
by continuing the proven value-add program, implementing market utility reimbursements, capitalizing on other ancillary income opportunities and bringing rents
in-line with market rents.
with both immediate and long-term upside potential. Situated in one of Lexington’s most desirable neighborhoods, the property combines strong in-place
performance with compelling market fundamentals and significant recent capital investment. Revive 1749 has been substantially renovated in the last 3 years,
and stands as a durable asset with updated systems, attractive curb appeal, and a favorable unit mix aligned with local renter demand. Revive 1749 benefits
from superior market dynamics, including a 97.4% submarket occupancy rate, 5.7% year-over-year rent growth and immediate proximity to high-traffic, premier
retail and lifestyle destinations. Ownership has recently invested $1.4 million on capital improvements and the asset is positioned for substantial revenue growth
by continuing the proven value-add program, implementing market utility reimbursements, capitalizing on other ancillary income opportunities and bringing rents
in-line with market rents.
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Property Facts
| Sale Type | Investment | Lot Size | 5.85 AC |
| No. Units | 105 | Building Size | 85,294 SF |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1969/2017 |
| Apartment Style | Garden | Parking Ratio | 1.47/1,000 SF |
| Building Class | C | ||
| Zoning | R-3 | ||
| Sale Type | Investment |
| No. Units | 105 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 5.85 AC |
| Building Size | 85,294 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1969/2017 |
| Parking Ratio | 1.47/1,000 SF |
| Zoning | R-3 |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Ceiling Fans
- Refrigerator
- Oven
Site Amenities
- 24 Hour Access
- Controlled Access
- Recycling
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 31 | - | 661 |
| 2+1 | 50 | - | 830 - 838 |
| 3+1 | 24 | - | 1,024 |
Property Taxes
| Parcel Number | 13869900 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $3,600,000 |
Property Taxes
Parcel Number
13869900
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$3,600,000
Contacts
-
Bobby Schiavone -
Adam Klenk -
Austin Heithcock -
Jordan Arand -
Blake Wiser -
Quentin Nichols -
Northmarq
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Revive at 1749 | 1749 Liberty Rd
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