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3200 Loch Ness Dr
Lexington, KY 40517
The Element · Multifamily Property For Sale
·
152 Units
Property Facts
| No. Units | 152 | Building Size | 127,451 SF |
| Property Type | Multifamily | Average Occupancy | 96% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built/Renovated | 1985/2019 |
| Building Class | C | Parking Ratio | 2.03/1,000 SF |
| Lot Size | 9.15 AC | ||
| Zoning | R-3 - Residential | ||
| No. Units | 152 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 9.15 AC |
| Building Size | 127,451 SF |
| Average Occupancy | 96% |
| No. Stories | 2 |
| Year Built/Renovated | 1985/2019 |
| Parking Ratio | 2.03/1,000 SF |
| Zoning | R-3 - Residential |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Microwave
- Ceiling Fans
- High Speed Internet Access
- Tub/Shower
- Sunroom
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Picnic Area
- Playground
- Pool
- Tenant Controlled HVAC
- Tennis Court
- Basketball Court
- Grill
- Laundry Service
- Pet Play Area
- Volleyball Court
- Online Services
- Walk-Up
- Smoke Detector
About 3200 LOCH NESS DR , LEXINGTON, KY 40517
Cedar Run Apartment Homes is a Class 'B' asset located in a very highly desirable area of Lexington, KY. This stable, cash flowing property has been well managed and maintained. The value-add opportunity is unprecedented given that the property has not traded in 32 years! The current rent roll is has abundant room for growth. Cedar Run apartments and its' competitors maintain a high occupancy due to the fabulous proximity to abundant choices of restaurant, amenities and The Fayette Mall. Nearby new construction at Fritz Farm is driving rents in the entire sub-market. OM Distribution - Tuesday, March 14, 2017 Tour Dates - Thursday, March 16, 2017 Friday, April 2, 2017 Initial Offer Submission Date - Wednesday, April 12, 2017 Best and Final Date - Tuesday, April 18, 2017 Award Date - Wednesday, April 19, 2017 Cedar Run Apartment Homes is located at an ideal home destination. With visibility from New Circle Road and its 3-minute drive to the Fayette Mall gives this property a great location score. The Fayette Mall is one of Kentucky's largest malls with over $1.1MM leasable square feet. The mall is central Kentucky' s premier shopping destination with over 170 retailer and dining options including Apple, The Disney Store, H&M, Michael Kors, Sephora and The Cheesecake Factory. Cedar Run is also conveniently located within 3 miles of some of Lexington's major employers - Baptist Health Lexington, University of Kentucky Hospital and School, as well as the VA hospital. Rarely is a property with such opportunity for sophisticated upgrades brought to market.
Property Taxes
| Parcel Number | 22951600 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $14,580,000 |
Property Taxes
