3-69 Deer Haven Ct
Florence, KY 41042
Richwood North Estates · Multifamily Property For Sale
·
80 Units
Investment Highlights
- Extremely Well-Maintained Asset
- Centrally Located in Premier Employment and Retail Corridor
- Rents Below Direct Competition of Exact Same Style
- Extremely Favorable HUD Financing Terms with Strong IRR
Property Facts
| No. Units | 80 | Building Size | 115,920 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Townhome | Year Built | 2003 |
| Building Class | B | Parking Ratio | 2.76/1,000 SF |
| Lot Size | 8.71 AC | ||
| Zoning | SR-2 - Designed for single-family residential development with moderate density. | ||
| No. Units | 80 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | B |
| Lot Size | 8.71 AC |
| Building Size | 115,920 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 2003 |
| Parking Ratio | 2.76/1,000 SF |
| Zoning | SR-2 - Designed for single-family residential development with moderate density. |
Amenities
Unit Amenities
- Air Conditioning
- Microwave
- Washer/Dryer
- Washer/Dryer Hookup
- Refrigerator
- Oven
- Range
- Wheelchair Accessible (Rooms)
Site Amenities
- 24 Hour Access
- Trash Pickup - Curbside
- Public Transportation
- Walk-Up
- Smoke Detector
About 3-69 DEER HAVEN CT , FLORENCE, KY 41042
Capstone Apartment Partners is pleased to present Richwood North Estates: a unique 80-unit, detached duplex townhome community located in Richwood, KY (Cincinnati MSA). The property consists of forty (40) buildings, each with two (2) three-bedroom, two-bathroom townhomes featuring dedicated driveways and garages. The asset has been exceptionally maintained by the original developer and is consistently 95%+ occupied, as current ownership has focused on high occupancy rather than maximizing rents. This has left an exciting opportunity for an incoming investor to systematically raise rents to market level, further bolstering the strong in-place cash flow. Richwood North Estates is located in one of the best employment corridors in the Cincinnati MSA; therefore, providing thousands of well-paying jobs within 15 minutes of the property. Finally, the current mortgage is a HUD loan with an extremely favorable 3.50% interest rate and 35-year amortization to support robust cash flow for an incoming investor.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 80 | - | 1,400 - 1,500 |
Property Taxes
| Parcel Numbers | Improvements Assessment | $4,930,000 | |
| Land Assessment | $870,000 | Total Assessment | $5,800,000 |
Property Taxes
