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Maple Valley Townhomes 618 E Waverly St 30 Unit Apartment Building $2,423,678 CAD ($80,789 CAD/Unit) 8.10% Cap Rate Morganfield, KY 42437
Executive Summary
Property Overview:
Offered is a 30-unit townhome portfolio located on a 2.95-acre site in Morganfield, KY. The property consists of four residential buildings, all featuring 2-bedroom townhome units with functional layouts and strong historical occupancy. The asset is currently 100% occupied and offered at a basis below estimated replacement cost, providing downside protection and long-term value.
The property’s low-density configuration and spacious site layout support tenant retention, operational efficiency, and long-term ownership appeal.
Investment Highlights:
30 total units (all 2BR townhomes)
100% occupied
Below replacement cost basis
Low-density site with ample spacing
Limited competing supply of similar product in the submarket
Location Overview:
Located at 618 E Waverly St in Morganfield, KY, the property benefits from proximity to essential retail, schools, and regional transportation corridors, including U.S. Hwy 60 and KY-56. These factors support consistent rental demand and ease of access for residents.
Offered is a 30-unit townhome portfolio located on a 2.95-acre site in Morganfield, KY. The property consists of four residential buildings, all featuring 2-bedroom townhome units with functional layouts and strong historical occupancy. The asset is currently 100% occupied and offered at a basis below estimated replacement cost, providing downside protection and long-term value.
The property’s low-density configuration and spacious site layout support tenant retention, operational efficiency, and long-term ownership appeal.
Investment Highlights:
30 total units (all 2BR townhomes)
100% occupied
Below replacement cost basis
Low-density site with ample spacing
Limited competing supply of similar product in the submarket
Location Overview:
Located at 618 E Waverly St in Morganfield, KY, the property benefits from proximity to essential retail, schools, and regional transportation corridors, including U.S. Hwy 60 and KY-56. These factors support consistent rental demand and ease of access for residents.
Property Facts
| Price | $2,423,678 CAD | Building Class | C |
| Price Per Unit | $80,789 CAD | Lot Size | 2.95 AC |
| Sale Type | Investment | Building Size | 24,900 SF |
| Cap Rate | 8.10% | Average Occupancy | 100% |
| No. Units | 30 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1972 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Townhome |
| Price | $2,423,678 CAD |
| Price Per Unit | $80,789 CAD |
| Sale Type | Investment |
| Cap Rate | 8.10% |
| No. Units | 30 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Lot Size | 2.95 AC |
| Building Size | 24,900 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1972 |
| Opportunity Zone |
Yes |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Washer/Dryer Hookup
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Vinyl Flooring
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 30 | - | 830 |
1 1
Property Taxes
| Parcel Number | M3-33-10 | Improvements Assessment | $927,497 CAD |
| Land Assessment | $67,700 CAD | Total Assessment | $995,197 CAD |
Property Taxes
Parcel Number
M3-33-10
Land Assessment
$67,700 CAD
Improvements Assessment
$927,497 CAD
Total Assessment
$995,197 CAD
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Maple Valley Townhomes | 618 E Waverly St
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