434 Harrodswood Drive, Frankfort, KY 40601

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Building Details:

434 Harrodswood Drive is located in Frankfort, KY.

PRG Investments has been retained to serve as the exclusive listing broker for this 50 unit apartment portfolio in Kentucky’s capital city, Frankfort. The portfolio is comprised of two separate properties: Westwood Terrace and Thistlewood Apartments. These properties are
extremely well maintained with long term owners(original owners, built properties and are retiring.) They enjoy historically strong occupancy and upward mobility in rents, which presents an excellent upside opportunity. Every unit is separately metered for gas and electric, which mitigates any utility exposure for a new owner. The properties enjoy many updates throughout, including kitchens, bathrooms and brand new roofs (Westwood Terrace.) A purchaser will take advantage of the local market’s excellent multi-family fundamentals with these assets that are located in high demand locations.

QUICK FACTS:
-2 separate complexes; Westwood Terrace and Thistlewood Apartments; 50 total units
-Westwood Terrace: 434 Harrodswood Drive; 34 Units (16 1BR/1BA and 18 2BR/1BA)
-Thistlewood Apartments: 901 Crosshill Road; 16 Units (All 1 BR/1BA)
-Total asking price: $1,595,000

INVESTMENT HIGHLIGHTS:
-Very well maintained properties with long term ownership; Little to no deferred maintenance.
-Upward mobility in rents present upside opportunity; Large floor plans; Many updates throughout.
-Located in Kentucky’s State Capital; a high demand market for apartments.
-Priced at $31,900 per unit; Take advantage of today’s interest rate environment which results in outstanding leveraged returns.