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Parkview Guest House 202 S College St 12 Room Hostel Harrodsburg, KY 40330 $645,050 CAD ($53,754 CAD/Room) 14.74% Cap Rate
Investment Highlights
- Central Harrodsburg Location
- Multifamily Asset
- Value-Add Potential
Executive Summary
19-Unit Cash-Flowing Investment Property | Former Hospital Conversion | Stable Occupancy
Located at 202 S College St, this unique 19-unit income-producing property offers strong in-place cash flow and a long history of stable operation. Originally constructed as a hospital and converted to apartments in the 1950s, the property has been under the same ownership since 1996.
Financial Overview:
Gross Monthly Income: $8,900
Annual Gross: $106,800
Historical Occupancy: ~90%
Utilities (owner-paid): approx. $1,500/month
Property Features:
19 total units (including 2 full apartments)
Remaining units operate in a rooming-house style with shared hallway bathrooms
8 bathrooms (individually lockable for privacy)
Central gas boiler heating system
Window A/C units included
Recent Updates & Condition:
New roof (2024)
Updated plumbing and electrical
New exterior paint
Updated windows
Well-maintained with no known major structural or mechanical issues
Operations:
Long-term stabilized asset with consistent tenant demand
Shared areas professionally maintained with cleaning schedule in place
Parking:
Primarily street parking, with 8–10 commonly used spaces nearby
Circular drive on-site
Investment Highlights:
Proven income-producing property with decades of operating history
Opportunity to improve rents or reconfigure units
Ideal for investors seeking workforce housing or rooming-house model
For additional details, please call 859-247-0278 and leave a voicemail if no answer.
Located at 202 S College St, this unique 19-unit income-producing property offers strong in-place cash flow and a long history of stable operation. Originally constructed as a hospital and converted to apartments in the 1950s, the property has been under the same ownership since 1996.
Financial Overview:
Gross Monthly Income: $8,900
Annual Gross: $106,800
Historical Occupancy: ~90%
Utilities (owner-paid): approx. $1,500/month
Property Features:
19 total units (including 2 full apartments)
Remaining units operate in a rooming-house style with shared hallway bathrooms
8 bathrooms (individually lockable for privacy)
Central gas boiler heating system
Window A/C units included
Recent Updates & Condition:
New roof (2024)
Updated plumbing and electrical
New exterior paint
Updated windows
Well-maintained with no known major structural or mechanical issues
Operations:
Long-term stabilized asset with consistent tenant demand
Shared areas professionally maintained with cleaning schedule in place
Parking:
Primarily street parking, with 8–10 commonly used spaces nearby
Circular drive on-site
Investment Highlights:
Proven income-producing property with decades of operating history
Opportunity to improve rents or reconfigure units
Ideal for investors seeking workforce housing or rooming-house model
For additional details, please call 859-247-0278 and leave a voicemail if no answer.
Property Facts
| Price | $645,050 CAD | Lot Size | 0.15 AC |
| Price Per Room | $53,754 CAD | Building Size | 8,008 SF |
| Sale Type | Investment | No. Rooms | 12 |
| Cap Rate | 14.74% | No. Stories | 2 |
| Property Type | Hospitality | Year Built | 1915 |
| Property Subtype | Hostel | Corridor | Interior |
| Building Class | B | ||
| Zoning | B-2 - B-2 Commercial zoning;existing multifamily use is legally non-conforming (grandfathered). Property has historically operated as residential apartments | ||
| Price | $645,050 CAD |
| Price Per Room | $53,754 CAD |
| Sale Type | Investment |
| Cap Rate | 14.74% |
| Property Type | Hospitality |
| Property Subtype | Hostel |
| Building Class | B |
| Lot Size | 0.15 AC |
| Building Size | 8,008 SF |
| No. Rooms | 12 |
| No. Stories | 2 |
| Year Built | 1915 |
| Corridor | Interior |
| Zoning | B-2 - B-2 Commercial zoning;existing multifamily use is legally non-conforming (grandfathered). Property has historically operated as residential apartments |
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 12 | $13.58 CAD | - |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 100.60-09003.00 | Improvements Assessment | $246,205 CAD |
| Land Assessment | $34,250 CAD | Total Assessment | $280,455 CAD |
Property Taxes
Parcel Number
100.60-09003.00
Land Assessment
$34,250 CAD
Improvements Assessment
$246,205 CAD
Total Assessment
$280,455 CAD
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Rm Mcginnis, Llc Real Est & Au
Parkview Guest House | 202 S College St
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