278 Weslee Way - Apartments FOR SALE


Hazard, KY 41701
$550,000 USD
586-202-2340
278 Weslee Way, Hazard, KY for Sale
$550,000 USD
Apartments - FOR SALE
1/1
null | 10.27% Cap Rate

278 Weslee Way
Hazard, KY 41701


HIGHLIGHTS

  • Located in the bustling commerce center of the region, offering access to essential amenities, entertainment, employment, and roadways.
  • Building has been continuously maintained and updated.
  • Currently fully occupied, the property boasts a strong historical occupancy showcasing the properties viability and market demand.
  • Attractive unit mix for singles and families.
  • NOI approx. $56,510 at full occupancy.

OVERVIEW

Positioned in the heart of Hazard, Kentucky’s primary commercial corridor, the Hazard Apartments offer a rare opportunity to acquire a fully occupied, well-maintained multifamily asset with proven market demand. This six-unit building features a versatile unit mix designed to attract both single renters and families, enhancing its long-term leasing stability. The property benefits from its central location within the region’s commerce hub, providing residents with immediate access to essential amenities, entertainment venues, employment centers, and major roadways. The building has been consistently updated and maintained, reflecting ownership’s commitment to quality and operational efficiency. With a reported Net Operating Income of approximately $56,510 at full occupancy, the asset demonstrates strong income performance and minimal vacancy risk. Its historical occupancy trends further validate its appeal in the local rental market. Hazard, KY serves as a regional anchor for southeastern Kentucky, offering a blend of small-town charm and urban convenience. The city’s proximity to major routes like KY-15 and KY-80 ensures connectivity to nearby towns such as London and Berea, while its economic base supports a steady demand for rental housing. This property is ideal for investors seeking a stabilized, income-producing asset in a growing Appalachian market.

FOR SALE DETAILS

PRICE

$550,000 USD

PRICE/SF

$92 USD /SF

# OF UNITS

6

PRICE/UNIT

$91,667

CAP RATE

10.27%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1994

PARKING SPACES

-

LAND DETAILS

LAND ACRES

4.13 AC

LAND SF

179,903 SF

ZONING

R-2

APN/PARCEL ID

086-20-04-005.00

ASK ABOUT THIS PROPERTY

Josh MillerFriedman Real EstateMore Info
586-202-2340

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Josh MillerFriedman Real EstateMore Info
586-202-2340

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