150, 154, and 160 Landings
- $1,150,000 list price | $95,833/unit | $128/SF
- Three side-by-side 4-plex buildings, 12 units (150, 154, and 160 Landings Drive)
- All 2BR/1BA units, 750 SF each | ~9,000 SF total
- 100% Occupied
- In-place rents: Avg $909/unit | Recent leases as high as $998/unit
- Fully renovated in 2020
- 7.25% Year 1 Cap Rate at list
- Investor opportunity: turnkey stabilized small-MF with minimal near-term capex
- 1031 opportunity: clean replacement asset
- Year built 1980 | All-electric heating and cooling (tenant-paid utilities)
- Marketed exclusively by SVN Stone Commercial Real Estate — contact Justin Ryder, CCIM with questions and more info
Property Description
SVN Stone Commercial Real Estate is pleased to offer 150, 154, and 160 Landings Drive — a turnkey 12-unit multifamily portfolio in Frankfort, Kentucky's capital city. The offering consists of three side-by-side four-plex buildings on Landings Drive, all completely renovated in 2020 (roofs, HVAC systems, plumbing, electrical) with a follow-on roof replacement in 2022. All 12 units are identical 2-bedroom / 1-bathroom layouts averaging 750 SF, currently 100% occupied with strong in-place rents averaging $909/month and recent leases trending higher. Offered at $1,150,000 ($95,833/unit, $128/SF). Ideal for investors seeking a stabilized, turnkey small-multifamily play with minimal near-term capex burden, or a 1031 buyer needing a clean replacement asset in a stable secondary market. Please contact Justin Ryder, CCIM at 859-447-3285 // [email protected].
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,150,000 |
| No. of Units: | 12 |
| Opportunity Zone: | No |
| Price per unit: | $95,833 |
| Property Website | Click Here |
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