404-456-7288
111 E 4th St, Hopkinsville, KY for Sale
Apartments - FOR SALE
1/18
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111 E 4th St
Hopkinsville, KY 42240


HIGHLIGHTS

  • 35-Unit Senior Affordable Community | 2005 Vintage
  • $143K+ in Recent Capital Improvements | Reduced Near-Term CapEx
  • Clear Occupancy & Rent Upside | In-Place Rents Below Net Max Rents

OVERVIEW

The Kirkland Company is pleased to present Pennyrile Senior, a 35-unit senior affordable housing community located in downtown Hopkinsville, Kentucky, within the Clarksville, TN-KY MSA. Built in 2005, the property features a senior-focused unit mix of 28 one-bedroom and seven two-bedroom units, with all units restricted at 50% AMI through December 31, 2035. Its walkable downtown location provides residents convenient access to healthcare, restaurants, retail, government offices, churches, and senior-oriented services. Pennyrile Senior presents a compelling opportunity to acquire a well-located affordable asset with multiple paths to improved performance. Current occupancy of approximately 83% creates meaningful stabilization upside, while average in-place rents remain below 2026 net maximum allowable rents, providing additional embedded revenue potential within the existing affordability structure. Current ownership has also invested more than $143,000 in recent capital improvements, reducing near-term deferred maintenance needs. The investment is further supported by constrained senior affordable housing supply in Hopkinsville, where existing senior-restricted affordable communities are reported at 100% occupancy and the 75+ population is projected to grow 18.2% from 2024 to 2029.

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

35

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Pennyrile Senior Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2005

PARKING SPACES

56

LAND DETAILS

LAND ACRES

1.03 AC

LAND SF

45,085 SF

ZONING

-

APN/PARCEL ID

217-00-02-014.00

ASK ABOUT THIS PROPERTY

Brian DevlinThe Kirkland CompanyMore Info
404-456-7288

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Brian DevlinThe Kirkland CompanyMore Info
404-456-7288

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.