Log In/Sign Up
Your email has been sent.
278 Weslee Way 6 Unit Apartment Building $550,000 ($91,667/Unit) 10.27% Cap Rate Hazard, KY 41701
INVESTMENT HIGHLIGHTS
- Located in the bustling commerce center of the region, offering access to essential amenities, entertainment, employment, and roadways.
- Currently fully occupied, the property boasts a strong historical occupancy showcasing the properties viability and market demand.
- NOI approx. $56,510 at full occupancy.
- Building has been continuously maintained and updated.
- Attractive unit mix for singles and families.
EXECUTIVE SUMMARY
Positioned in the heart of Hazard, Kentucky’s primary commercial corridor, the Hazard Apartments offer a rare opportunity to acquire a fully occupied, well-maintained multifamily asset with proven market demand. This six-unit building features a versatile unit mix designed to attract both single renters and families, enhancing its long-term leasing stability. The property benefits from its central location within the region’s commerce hub, providing residents with immediate access to essential amenities, entertainment venues, employment centers, and major roadways.
The building has been consistently updated and maintained, reflecting ownership’s commitment to quality and operational efficiency. With a reported Net Operating Income of approximately $56,510 at full occupancy, the asset demonstrates strong income performance and minimal vacancy risk. Its historical occupancy trends further validate its appeal in the local rental market.
Hazard, KY serves as a regional anchor for southeastern Kentucky, offering a blend of small-town charm and urban convenience. The city’s proximity to major routes like KY-15 and KY-80 ensures connectivity to nearby towns such as London and Berea, while its economic base supports a steady demand for rental housing. This property is ideal for investors seeking a stabilized, income-producing asset in a growing Appalachian market.
The building has been consistently updated and maintained, reflecting ownership’s commitment to quality and operational efficiency. With a reported Net Operating Income of approximately $56,510 at full occupancy, the asset demonstrates strong income performance and minimal vacancy risk. Its historical occupancy trends further validate its appeal in the local rental market.
Hazard, KY serves as a regional anchor for southeastern Kentucky, offering a blend of small-town charm and urban convenience. The city’s proximity to major routes like KY-15 and KY-80 ensures connectivity to nearby towns such as London and Berea, while its economic base supports a steady demand for rental housing. This property is ideal for investors seeking a stabilized, income-producing asset in a growing Appalachian market.
PROPERTY FACTS
| Price | $550,000 | Building Class | C |
| Price Per Unit | $91,667 | Lot Size | 4.13 AC |
| Sale Type | Investment | Building Size | 6,000 SF |
| Cap Rate | 10.27% | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1994 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | R-2 | ||
| Price | $550,000 |
| Price Per Unit | $91,667 |
| Sale Type | Investment |
| Cap Rate | 10.27% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 4.13 AC |
| Building Size | 6,000 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1994 |
| Opportunity Zone |
Yes |
| Zoning | R-2 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+1.5 | 6 | - | - |
1 1
1 of 2
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
Company Not Provided
278 Weslee Way
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.