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Hines Portfolio — 12-Unit Apartments 5704 Old Highway 54 12 Unit Apartment Building For Sale Philpot, KY 42366
Investment Highlights
- 12 units (mix: 8×2BR / 4×1BR) — value-add reposition
- Two adjacent parcels included
- Parking re-striping near the building per fire/ROW turnaround guidance (scope/timing to be confirmed)
- Primary building 9,030 SF, 2 stories, 1980 construction (brick)
- Combined land area approx. ±2.08 AC across 3 parcels
- Private/onsite sewer; seller open to reasonable easements/solutions with parcel splits
Executive Summary
12-unit value-add apartment asset at 5704 Old Hwy 54 with two adjacent parcels included (±2.08 AC total), offered individually as part of the Hines Portfolio.
Positioned along Old Hwy 54, this 12-unit multifamily opportunity pairs a manageable scale with embedded land value across two adjacent parcels (for a combined ±2.08 AC). The primary building (circa 1980, 9,030 SF, brick) carries a mix of 8 two-bedroom and 4 one-bedroom units, ideal for a value-add reposition toward market rents. Parking is on-site; targeted re-striping adjacent to the building is planned to satisfy fire/ROW turnaround requirements.
As part of the broader Hines Portfolio, the seller will consider cross-access and utility easements in connection with parcel splits. Property is served by private/onsite sewer; easement or alternative solutions are feasible subject to approvals. Full diligence is available via NDA.
Remarks / Disclosures:
- Included Parcels: 089-00-00-015-01-000 (5704 Old Hwy 54), 089-00-00-017-00-000 (Old Hwy 54, ±0.28 AC), 089-00-00-018-00-000 (5740 Old Hwy 54, ±0.75 AC with ±1,200 SF metal building).
- Re-striping: targeted adjustments adjacent to apartments per fire/ROW; scope/timing/responsible party to be confirmed.
- Sewer: Private/onsite; easements/alternatives considered with parcel splits.
- Portfolio: Part of the Hines Portfolio — see master listing for map & additional assets.
Positioned along Old Hwy 54, this 12-unit multifamily opportunity pairs a manageable scale with embedded land value across two adjacent parcels (for a combined ±2.08 AC). The primary building (circa 1980, 9,030 SF, brick) carries a mix of 8 two-bedroom and 4 one-bedroom units, ideal for a value-add reposition toward market rents. Parking is on-site; targeted re-striping adjacent to the building is planned to satisfy fire/ROW turnaround requirements.
As part of the broader Hines Portfolio, the seller will consider cross-access and utility easements in connection with parcel splits. Property is served by private/onsite sewer; easement or alternative solutions are feasible subject to approvals. Full diligence is available via NDA.
Remarks / Disclosures:
- Included Parcels: 089-00-00-015-01-000 (5704 Old Hwy 54), 089-00-00-017-00-000 (Old Hwy 54, ±0.28 AC), 089-00-00-018-00-000 (5740 Old Hwy 54, ±0.75 AC with ±1,200 SF metal building).
- Re-striping: targeted adjustments adjacent to apartments per fire/ROW; scope/timing/responsible party to be confirmed.
- Sewer: Private/onsite; easements/alternatives considered with parcel splits.
- Portfolio: Part of the Hines Portfolio — see master listing for map & additional assets.
Property Facts
| Sale Type | Investment | Lot Size | 1.05 AC |
| No. Units | 12 | Building Size | 9,030 SF |
| Property Type | Multifamily | Average Occupancy | 80% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1980 |
| Building Class | C | ||
| Zoning | Commercial | ||
| Sale Type | Investment |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.05 AC |
| Building Size | 9,030 SF |
| Average Occupancy | 80% |
| No. Stories | 2 |
| Year Built | 1980 |
| Zoning | Commercial |
Amenities
Unit Amenities
- Air Conditioning
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 12 | - | - |
1 1
Property Taxes
| Parcel Number | 089-00-00-015-01-000 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $416,100 |
Property Taxes
Parcel Number
089-00-00-015-01-000
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$416,100
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Hines Portfolio — 12-Unit Apartments | 5704 Old Highway 54
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