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Pennyrile Senior Apartments 111 E 4th St 35 Unit Apartment Building For Sale Hopkinsville, KY 42240
Investment Highlights
- 35-Unit Senior Affordable Community | 2005 Vintage
- Clear Occupancy & Rent Upside | In-Place Rents Below Net Max Rents
- $143K+ in Recent Capital Improvements | Reduced Near-Term CapEx
Executive Summary
The Kirkland Company is pleased to present Pennyrile Senior, a 35-unit senior affordable housing community located in downtown Hopkinsville, Kentucky, within the Clarksville, TN-KY MSA. Built in 2005, the property features a senior-focused unit mix of 28 one-bedroom and seven two-bedroom units, with all units restricted at 50% AMI through December 31, 2035. Its walkable downtown location provides residents convenient access to healthcare, restaurants, retail, government offices, churches, and senior-oriented services.
Pennyrile Senior presents a compelling opportunity to acquire a well-located affordable asset with multiple paths to improved performance. Current occupancy of approximately 83% creates meaningful stabilization upside, while average in-place rents remain below 2026 net maximum allowable rents, providing additional embedded revenue potential within the existing affordability structure. Current ownership has also invested more than $143,000 in recent capital improvements, reducing near-term deferred maintenance needs. The investment is further supported by constrained senior affordable housing supply in Hopkinsville, where existing senior-restricted affordable communities are reported at 100% occupancy and the 75+ population is projected to grow 18.2% from 2024 to 2029.
Pennyrile Senior presents a compelling opportunity to acquire a well-located affordable asset with multiple paths to improved performance. Current occupancy of approximately 83% creates meaningful stabilization upside, while average in-place rents remain below 2026 net maximum allowable rents, providing additional embedded revenue potential within the existing affordability structure. Current ownership has also invested more than $143,000 in recent capital improvements, reducing near-term deferred maintenance needs. The investment is further supported by constrained senior affordable housing supply in Hopkinsville, where existing senior-restricted affordable communities are reported at 100% occupancy and the 75+ population is projected to grow 18.2% from 2024 to 2029.
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Property Facts
| Sale Type | Investment | Lot Size | 1.04 AC |
| No. Units | 35 | Building Size | 33,966 SF |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 2005 |
| Apartment Style | Low-Rise | Parking Ratio | 1.65/1,000 SF |
| Building Class | B |
| Sale Type | Investment |
| No. Units | 35 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 1.04 AC |
| Building Size | 33,966 SF |
| No. Stories | 3 |
| Year Built | 2005 |
| Parking Ratio | 1.65/1,000 SF |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
Site Amenities
- 24 Hour Access
- Fitness Center
- Laundry Facilities
- Breakfast/Coffee Concierge
- Gameroom
- Wheelchair Accessible
- Elevator
- Lounge
- Study Lounge
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 28 | - | 635 |
| 2+1 | 7 | - | 710 |
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Fairly walkable
50/100
Exceptionally drivable
100/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 217-00-02-014.00 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $1,066,111 CAD |
Property Taxes
Parcel Number
217-00-02-014.00
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$1,066,111 CAD
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Pennyrile Senior Apartments | 111 E 4th St
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