102 & 104 Landon Drive
IRVINGTON, KY 40146

$1,300,000

Description

Very Attractive 24 unit Multi Family Apartment Complex (2 buildings) fully updated and meticulously maintained built in 2005 is a terrific investment opportunity with 2018 & 2019 pro forma cap rates reaching 7.8 to 8.2 % and cash flows exceeding $100K. Located in the heart of Irvington Kentucky with clear visibility to the busy US 60 with over 3000 cars per day traffic flow. Currently at 100% occupancy all units feature 2 bedroom, 1 bath, with balcony or patio, tile, well maintained landscaping, newly remodeled with newer paint and carpet. The area is an excellent location, with new roads, close to shopping, and a new elementary school next door and parks. A Great Small Town atmosphere with Beautiful Country Views and rapid growth, only about 22 mins to Fort Knox. Pro Forma Net Operating Income (NOI) projected well in access of $100,000 per year cash flow with Cap Rates of 8 to 10 %. All units offer Dishwasher, Electric Range, Refrigerator and Washer & Dryer, lots of parking and city sewer. Tenants pay all their own utilities except garbage. P&L available upon request.

Details

MLS#10043975
Sub-TypeResale
StatusActive
Year2005
Days On Site9

Features

SQ Feet10,890
Units24

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Area Information

StateKY
CountyBRECKINRID
CityIRVINGTON
Zip Code40146
AreaBreckinridge County
Listing VS Median (in 40146)
Price:
$1,300,000
low | high
Med:
$132,000
100% of Average
SqFt:
10,890
low | high
Med:
3,500
100% of Average
$ / SqFt:
$119
low | high
Med:
$38
100% of Average
On Site:
9
low | high
Med:
34
26.470588235294% of Average
Listing Updated: 06/19/2018
MLS Number: 10043975
Listing Provided By:
Scott Coppage  of  ALL ABOUT HOMES REALTY