923-931 Taylor Dr - Apartments FOR SALE


Ashland, KY 41102
$1,150,000 USD
615-973-5373
923-931 Taylor Dr, Ashland, KY for Sale
$1,150,000 USD
Apartments - FOR SALE
1/18
null | 6.61% Cap Rate

923-931 Taylor Dr
Ashland, KY 41102


HIGHLIGHTS

  • Rents are currently $83 below the market rate
  • Washer and dryer connections in each unit; tenants supply their own machines
  • Parking lot resurfaced in 2020
  • All utilities served through a single meter
  • Convenient access to I-64 and U.S. Route 23, connecting residents to major employment centers, retail, healthcare, and education

OVERVIEW

Link to Deal Room and Financials: https://www.marcusmillichap.com/properties/187918/taylorwood-apartments Marcus & Millichap has been selected to exclusively market for sale the Taylorwood Apartments in Ashland, KY. This offering will allow a potential investor to purchase a rare value-add investment opportunity located in Northeast Kentucky. Taylorwood Apartments is a 20-unit multifamily community located in Ashland, KY, a regional hub along the Ohio River at the tri-state border of Kentucky, Ohio, and West Virginia. The property is master-metered with owner-paid trash and cable included in rent. With solid physical condition and operational efficiencies in place, Taylorwood presents a compelling value-add opportunity through strategic interior upgrades and rent optimization in a market with strong rental demand and below-market current rents. Offers should be presented in the form of a non-binding Letter of Intent, spelling out the significant terms and conditions of the Purchaser’s offer including, but not limited to: 1) asset pricing, 2) due diligence and closing time frame, 3) earnest money deposit, 4) a description of the debt/equity structure, and 5) qualification to close. The purchase terms shall require all cash to be paid at closing. At no point should tenants or staff be contacted regarding the sale of the Taylorwood Apartments.

FOR SALE DETAILS

PRICE

$1,150,000 USD

PRICE/SF

$86 USD /SF

# OF UNITS

20

PRICE/UNIT

$57,500

CAP RATE

6.61%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Taylorwood Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1980

PARKING SPACES

20

LAND DETAILS

LAND ACRES

2.7 AC

LAND SF

117,612 SF

ZONING

Z01

APN/PARCEL ID

015-02-00-097.01

ASK ABOUT THIS PROPERTY

Patrick CosgroveMarcus & MillichapMore Info
615-973-5373

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Patrick CosgroveMarcus & MillichapMore Info
615-973-5373

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