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400 N Kelsey St
Sturgis, KY 42459
River Oaks Apartments · Multifamily Property For Sale
·
56 Units
EXECUTIVE SUMMARY
Attractive In-Place Yield with Immediate Cash Flow
Significant Capital Investment Completed by Ownership
Fully Executed Value-Add with Proven Rents
Best In-Class Asset in a Supply-Constrained Market
1970s Vintage with Manageable, Budgetable Capex Profile
Defensive Workforce Housing Asset
Compelling Long-Term Hold with Clear Exit Profile
Significant Capital Investment Completed by Ownership
Fully Executed Value-Add with Proven Rents
Best In-Class Asset in a Supply-Constrained Market
1970s Vintage with Manageable, Budgetable Capex Profile
Defensive Workforce Housing Asset
Compelling Long-Term Hold with Clear Exit Profile
PROPERTY FACTS
| Sale Type | Investment | Lot Size | 3.73 AC |
| No. Units | 56 | Building Size | 47,852 SF |
| Property Type | Multifamily | Average Occupancy | 95% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1974 |
| Building Class | C |
| Sale Type | Investment |
| No. Units | 56 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 3.73 AC |
| Building Size | 47,852 SF |
| Average Occupancy | 95% |
| No. Stories | 2 |
| Year Built | 1974 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Heating
- Kitchen
- Refrigerator
- Range
SITE AMENITIES
- Laundry Facilities
- Playground
- Property Manager on Site
- Pet Play Area
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 24 | - | 650 |
| 2+1 | 32 | - | 800 |
PROPERTY TAXES
| Parcel Number | 39-54 | Improvements Assessment | $1,655,000 |
| Land Assessment | $70,000 | Total Assessment | $1,725,000 |
PROPERTY TAXES
Parcel Number
39-54
Land Assessment
$70,000
Improvements Assessment
$1,655,000
Total Assessment
$1,725,000
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