Log In/Sign Up
Your email has been sent.
Lexington Portfolio 4 Multifamily Properties in Lexington, KY
INVESTMENT HIGHLIGHTS
- STRATEGIC VALUE-ADD OPPORTUNITY WITH STRONG UPSIDE POTENTIAL
- SUPERIOR SUBMARKET FUNDAMENTALS IN LEXINGTON
- NEAR MAJOR EMPLOYERS & DEMAND DRIVERS
EXECUTIVE SUMMARY
*These properties can be purchased as a portfolio or individually*
The Lexington portfolio presents a compelling investment opportunity with immediate rent growth potential of $250+ per unit by aligning with market rental competitors. This 6 property, 907-unit portfolio are all in extremely desirable areas of Lexington, KY. A new investor can transition their focus from maximizing occupancy to bringing rents in line with market levels. Increasing rents at the properties to the market average can increase revenues by $2,797,188 with the potential to achieve even higher rents. The market is achieving 5.4% rent growth YoY and is at 97.5% occupancy, with a strong historical track record. Significant capital investments have already been made, reducing deferred
maintenance and allowing new ownership to focus on operational upside— including washer/dryer rentals and utility recapture.
The Lexington portfolio is located within minutes of many of Lexington’s top employers and economic drivers including UK, CHI Saint Joseph, Conduent, Amazon and Baptist Health which provide 40,000+ jobs in the immediate area. The Lexington portfolio is also located less than a mile from a high-traffic retail area which includes French Quarter Square. Major brands in the area include Home Depot, Lowes, Chipotle, Panera, Kroger and more.
STRATEGIC VALUE-ADD OPPORTUNITY WITH STRONG UPSIDE POTENTIAL
• Offered free & clear or agency debt assumption (Debt assumption is only for Lexington Villas at 5.12% through November 2030 and Preakness at 3.42% through July 2031)
• $8,009,962+ total capex ($8,831/unit) spent to date
• Ability to capture washer/dryer income & utility recapture
• $190 - $315+ below comps in Inferior Locations
• Rents at bottom of rent comp Set
• Ability to add $2,797,188 in revenue by pushing rents to market
NEAR MAJOR EMPLOYERS & DEMAND DRIVERS
• UK Healthcare: 26,800+ employees; $2.4B expansion creating 4,800 new jobs
• Baptist Health: 3,189 employees; $230M new medical campus adding 600–700 jobs
• Amazon: 5,034 employees
• Conduent: 2,250 employees
• Less than 2.5 miles from French Quarter Square, Garden Springs Shopping Center, Meadowthorpe Shopping Center Lowe’s, Starbucks, Home Depot, Chipotle, and more
SUPERIOR SUBMARKET FUNDAMENTALS IN LEXINGTON
• Strong Demand Outpacing Supply
• 96.6% Occupancy and 97.7% Occupancy for each Submarket
• 7.7% and 5.9% YoY Rent Growth for each Submarket
The Lexington portfolio presents a compelling investment opportunity with immediate rent growth potential of $250+ per unit by aligning with market rental competitors. This 6 property, 907-unit portfolio are all in extremely desirable areas of Lexington, KY. A new investor can transition their focus from maximizing occupancy to bringing rents in line with market levels. Increasing rents at the properties to the market average can increase revenues by $2,797,188 with the potential to achieve even higher rents. The market is achieving 5.4% rent growth YoY and is at 97.5% occupancy, with a strong historical track record. Significant capital investments have already been made, reducing deferred
maintenance and allowing new ownership to focus on operational upside— including washer/dryer rentals and utility recapture.
The Lexington portfolio is located within minutes of many of Lexington’s top employers and economic drivers including UK, CHI Saint Joseph, Conduent, Amazon and Baptist Health which provide 40,000+ jobs in the immediate area. The Lexington portfolio is also located less than a mile from a high-traffic retail area which includes French Quarter Square. Major brands in the area include Home Depot, Lowes, Chipotle, Panera, Kroger and more.
STRATEGIC VALUE-ADD OPPORTUNITY WITH STRONG UPSIDE POTENTIAL
• Offered free & clear or agency debt assumption (Debt assumption is only for Lexington Villas at 5.12% through November 2030 and Preakness at 3.42% through July 2031)
• $8,009,962+ total capex ($8,831/unit) spent to date
• Ability to capture washer/dryer income & utility recapture
• $190 - $315+ below comps in Inferior Locations
• Rents at bottom of rent comp Set
• Ability to add $2,797,188 in revenue by pushing rents to market
NEAR MAJOR EMPLOYERS & DEMAND DRIVERS
• UK Healthcare: 26,800+ employees; $2.4B expansion creating 4,800 new jobs
• Baptist Health: 3,189 employees; $230M new medical campus adding 600–700 jobs
• Amazon: 5,034 employees
• Conduent: 2,250 employees
• Less than 2.5 miles from French Quarter Square, Garden Springs Shopping Center, Meadowthorpe Shopping Center Lowe’s, Starbucks, Home Depot, Chipotle, and more
SUPERIOR SUBMARKET FUNDAMENTALS IN LEXINGTON
• Strong Demand Outpacing Supply
• 96.6% Occupancy and 97.7% Occupancy for each Submarket
• 7.7% and 5.9% YoY Rent Growth for each Submarket
DATA ROOM Click Here to Access
PROPERTY FACTS
| Sale Type | Investment | Individually For Sale | 0 |
| Status | Active | Total Building Size | 738,696 SF |
| Number of Properties | 4 | Total Land Area | 19.28 AC |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 4 |
| Individually For Sale | 0 |
| Total Building Size | 738,696 SF |
| Total Land Area | 19.28 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
|
Preakness Apartments
1707-1724 Versailles Rd, Lexington, KY 40504 |
Multifamily | 249,819 SF | 1968 | - |
|
Crystal Gardens
1340 Alexandria Dr, Lexington, KY 40504 |
Multifamily | 206,217 SF | 1969 | - |
|
Park Vista
1270 Village Dr, Lexington, KY 40504 |
Multifamily | 197,160 SF | 1970 | - |
|
Stone Bridge Apartments
1261 Village, Lexington, KY 40504 |
Multifamily | 85,500 SF | 1974 | - |
CONTACTS
-
Bobby Schiavone -
Adam Klenk -
Austin Heithcock -
Jordan Arand -
Quentin Nichols -
Blake Wiser -
Northmarq
1 of 36
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Presented by
Lexington Portfolio
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.