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Covington Place 2400 Woodhill Dr 32 Unité Immeuble d’appartements À vendre Lexington, KY 40509
Certaines informations ont été traduites automatiquement.
Faits saillants de l'investissement
- Cash Flow Day 1: With a trailing NOI of $299,474 Covington Place is projecting over 7.5% cash on cash return day one (see package for assumptions).
- Hard to Find Asset: In the past 2 years, there has been only one property sold of similar size and price in Lexington.
Résumé de l'annonce
The Opportunity
VWREA is pleased to offer Covington Place Apartments, an offering of 32 units in Lexington, KY. The unit mix consists of (1) 2-bedroom and (31) 3-bedroom apartment units.
Deal Highlights
Rent Upside: Covington Place rents are $274/mo below the market average rents in the area. There is an opportunity to burn off loss to lease and bring rents to market levels of $1,300/mo which is still $164/mo below the market average.
Turn Key Opportunity: Units have been upgraded with new flooring, paint, appliances, washer/dryers, light fixtures, kitchen cabinets, countertops, and bathrooms providing a turn key opportunity for an incoming investor.
The Market
Covington Place Apartments is near shopping, dining, and entertainment options and just under 3 miles from University of Kentucky. Additionally, tenants benefit from easy access to i75 just 3 miles from the apartment complex.
Lexington Developments
The recently built Lexington Sporting Club is within 9 miles of Covington Place
200-acre Legacy Business Park a milestone for Lexington economic development, this new development broke ground in 2025, and once complete the project is expected to bring almost 1,700 jobs to the community with a combined annual payroll estimated at nearly $100 million.
Wawa’s set to open next year within 4 miles of Covington Place Apartments.
VWREA is pleased to offer Covington Place Apartments, an offering of 32 units in Lexington, KY. The unit mix consists of (1) 2-bedroom and (31) 3-bedroom apartment units.
Deal Highlights
Rent Upside: Covington Place rents are $274/mo below the market average rents in the area. There is an opportunity to burn off loss to lease and bring rents to market levels of $1,300/mo which is still $164/mo below the market average.
Turn Key Opportunity: Units have been upgraded with new flooring, paint, appliances, washer/dryers, light fixtures, kitchen cabinets, countertops, and bathrooms providing a turn key opportunity for an incoming investor.
The Market
Covington Place Apartments is near shopping, dining, and entertainment options and just under 3 miles from University of Kentucky. Additionally, tenants benefit from easy access to i75 just 3 miles from the apartment complex.
Lexington Developments
The recently built Lexington Sporting Club is within 9 miles of Covington Place
200-acre Legacy Business Park a milestone for Lexington economic development, this new development broke ground in 2025, and once complete the project is expected to bring almost 1,700 jobs to the community with a combined annual payroll estimated at nearly $100 million.
Wawa’s set to open next year within 4 miles of Covington Place Apartments.
Faits sur la propriété
| Type de vente | Investissement | Taille du lot | 1,75 AC |
| Nombre d’unités | 32 | Taille du bâtiment | 17 967 pi² |
| Type de propriété | Immeuble residentiel | Nombre d’étages | 2 |
| Sous-type de propriété | Appartement | Année de construction | 1971 |
| Style d’appartement | Jardin | Ratio de stationnement | 2,78/1 000 pi² |
| Classe d’immeuble | C | ||
| Zonage | R-4 - Apartment Complex | ||
| Type de vente | Investissement |
| Nombre d’unités | 32 |
| Type de propriété | Immeuble residentiel |
| Sous-type de propriété | Appartement |
| Style d’appartement | Jardin |
| Classe d’immeuble | C |
| Taille du lot | 1,75 AC |
| Taille du bâtiment | 17 967 pi² |
| Nombre d’étages | 2 |
| Année de construction | 1971 |
| Ratio de stationnement | 2,78/1 000 pi² |
| Zonage | R-4 - Apartment Complex |
Commodités
Commodités des unités
- Laveuse/Sécheuse
- Cuisine
- Réfrigérateur
- Fourchette
Unité renseignements sur le mélange
| Description | Nombre d’unités | Loyer moyen/mois | pi² |
|---|---|---|---|
| 2+1 | 1 | 1 281 $ CAD | 900 |
| 3+1 | 31 | 1 605 $ CAD | 1 000 |
1 1
Impôts fonciers
| Numéro de lot | 10281550 | Évaluation des bâtiments | 0 $ CAD |
| Évaluation du terrain | 0 $ CAD | Évaluation totale | 4 564 019 $ CAD |
Impôts fonciers
Numéro de lot
10281550
Évaluation du terrain
0 $ CAD
Évaluation des bâtiments
0 $ CAD
Évaluation totale
4 564 019 $ CAD
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Présenté par
Covington Place | 2400 Woodhill Dr
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