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Richwood North Estates 3-69 Deer Haven Ct 82 Unit Apartment Building For Sale Florence, KY 41042
INVESTMENT HIGHLIGHTS
- 81-unit Build-to-Rent townhome community constructed in 2005
- Since a management change was implemented in November of 2024, NOI has increased by over $135k.
- 100% occupancy with one unit left vacant for showings (pre-leased)
EXECUTIVE SUMMARY
Strong rent growth potential through minor value-add
-Addition of backsplashes and stainless-steel appliances in renovated units, less than 10 classic units left
-Tightening of rental rates between floor plans
-Currently there is a $300 disparity
Large three-bedroom layouts ranging from 1,400–1,550 square feet, each with private entrances, driveways, garages, in-unit laundry, and patios
Located in Boone County, one of the Cincinnati MSA’s strongest suburban markets with top-rated schools and direct access to I-71/75 and CVG International Airport
-Addition of backsplashes and stainless-steel appliances in renovated units, less than 10 classic units left
-Tightening of rental rates between floor plans
-Currently there is a $300 disparity
Large three-bedroom layouts ranging from 1,400–1,550 square feet, each with private entrances, driveways, garages, in-unit laundry, and patios
Located in Boone County, one of the Cincinnati MSA’s strongest suburban markets with top-rated schools and direct access to I-71/75 and CVG International Airport
PROPERTY FACTS
| Sale Type | Investment | Lot Size | 8.71 AC |
| No. Units | 82 | Building Size | 115,920 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Townhome | Year Built | 2003 |
| Building Class | B | Parking Ratio | 2.76/1,000 SF |
| Zoning | SR-2 - Designed for single-family residential development with moderate density. | ||
| Sale Type | Investment |
| No. Units | 82 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | B |
| Lot Size | 8.71 AC |
| Building Size | 115,920 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 2003 |
| Parking Ratio | 2.76/1,000 SF |
| Zoning | SR-2 - Designed for single-family residential development with moderate density. |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Microwave
- Washer/Dryer
- Washer/Dryer Hookup
- Refrigerator
- Oven
- Range
- Wheelchair Accessible (Rooms)
SITE AMENITIES
- 24 Hour Access
- Trash Pickup - Curbside
- Public Transportation
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+2 | 37 | - | 1,200 - 1,400 |
| 3+2.5 | 45 | - | 1,500 - 1,550 |
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Richwood North Estates | 3-69 Deer Haven Ct
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