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Parkview Guest House 202 S College St 12 Room Hostel Harrodsburg, KY 40330 $500,000 ($41,667/Room) 14% Cap Rate
Investment Highlights
- Central Harrodsburg Location
- Multifamily Asset
- Value-Add Potential
Executive Summary
Originally constructed as a hospital and converted to apartments in the 1950s, this 19-unit income property has been under the same ownership since 1996. The building is well maintained and turnkey, with updated plumbing and electrical systems, a new roof installed in 2024, and no known major structural or mechanical issues. Occupancy historically averages around 90%, with only a few small units currently vacant.
Property Facts
| Price | $500,000 | Lot Size | 0.15 AC |
| Price Per Room | $41,667 | Building Size | 8,008 SF |
| Sale Type | Investment | No. Rooms | 12 |
| Cap Rate | 14% | No. Stories | 2 |
| Property Type | Hospitality | Year Built | 1915 |
| Property Subtype | Hostel | Corridor | Interior |
| Building Class | B | ||
| Zoning | B-2 - B-2 Commercial zoning;existing multifamily use is legally non-conforming (grandfathered). Property has historically operated as residential apartments | ||
| Price | $500,000 |
| Price Per Room | $41,667 |
| Sale Type | Investment |
| Cap Rate | 14% |
| Property Type | Hospitality |
| Property Subtype | Hostel |
| Building Class | B |
| Lot Size | 0.15 AC |
| Building Size | 8,008 SF |
| No. Rooms | 12 |
| No. Stories | 2 |
| Year Built | 1915 |
| Corridor | Interior |
| Zoning | B-2 - B-2 Commercial zoning;existing multifamily use is legally non-conforming (grandfathered). Property has historically operated as residential apartments |
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 12 | $10.00 | - |
1 1
Property Taxes
| Parcel Number | 100.60-09003.00 | Improvements Assessment | $179,712 |
| Land Assessment | $25,000 | Total Assessment | $204,712 |
Property Taxes
Parcel Number
100.60-09003.00
Land Assessment
$25,000
Improvements Assessment
$179,712
Total Assessment
$204,712
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Presented by
Rm Mcginnis, Llc Real Est & Au
Parkview Guest House | 202 S College St
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