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SVN Stone Commercial Real Estate is excited to bring to market 6 condos in Bluegrass Commons, a perfectly placed University of Kentucky investment property. Walkable to downtown, campus, major sporting events, and convenient nightlife, the property has never had a vacancy. Historically, the property has attracted long time grad students looking for convenience and parking. Nearby new student housing leaves plenty of market upside for increasing rents. In a market with high barrier to entry for investment property, falling cap rates, and unique financing opportunities, get started on or add to your portfolio today.
- University of Kentucky Investment Property presented at $665,000.
- A slam dunk property 1.2 miles from Rupp Arena and less than 1 mile from Kroger field — home of the Kentucky Wildcats!
- According to UK, enrollment in 2021 is an all time high of 31,800 (up 2.1% YoY)!
- In the heart of UK, Bluegrass Commons is THE top choice for students of Pharmacy, Law, Medicine, Dentistry, Health Services, and more!
- Current owner has never had a vacancy.
- Apartments in close proximity to restaurants, shops, coffee shops, and nightlife.
- Nearby development “The Hub” studios rent for $1,000+ with NO Parking.
- Current owner does NOT charge for parking OR pass thru expenses.
- Recent management change will improve fees and add to net operating income.
- There is an indication certain items will be removed from HOA in the future, including internet (currently included).
- At the very least, new owner would have the opportunity to pass thru certain expenses and stay significantly under market rent.
- Campus investment property does not last long.
- Current owner NOI: $31,101.69
For more information contact Justin Ryder, CCIM at 859.306.0617 // firstname.lastname@example.org or Harrison Lane at 859.436.2835 // email@example.com.