94 Units in Somerset, KY-Rent Upside

Multi-Family for Sale
Sale Pending
Catylist Listing ID: 30553472
Property Subtypes: Duplex/Fourplex, Low-Rise/Garden, Other
Status: Pending
Number of Units: 94 Units
Building Size (RSF): 102,084 SF
Sale Price: $4,500,000
Unit Price: $47,872.34 Per Unit
Property Use Type: Investment
Building Name: One Way, LLC
Sale Terms: Cash to Seller
Last Updated: 1/21/2020

Overview / Comments

Offer Deadline 1/17/2020

Goldman Partners Realty is pleased to offer a multifamily Portfolio in Somerset, Kentucky. 94 units in 8 market-rate properties ranging from 4-28 units. This offering is exclusively listed by Goldman Partners Realty, LLC, Knoxville, TN in conjunction with Silvestri Real Estate, LLC, Lexington, KY.

PRICING - $47,873/unit
7.77% cap rate on Pro forma

Unit Mix:
(11) 1-BR
(72) 2-BR
(11) 3-BR

For the Offering Memorandum, most recent appraisals and all the Buyer Due Diligence docs, use the links on this listing or contact a listing agent for more information.

● Excellent locations – near shopping, schools & factories Somerset is the county seat of Pulaski County and a regional retail area
● Well-maintained portfolio
● Upside Potential - Room for Rent Growth
● Strong rental history with many long-term tenants

Additional Details

Nearest MSA: Somerset
County: Pulaski
Taxing Authority: City of Somerset
Tax ID/APN: 062-1-0-33
Percent Occupied: 91%
Area Description: Somerset, the county seat of Pulaski County, is located in South Central Kentucky and is a major retail hub for a large rural area. The population of the city is over 11,000 and almost 65,000 reside in Pulaski County.
Property Condition: Good
Construction/Siding: Other
Parking Type: Surface
Internet Access: Cable
Land Ownership: Fee Simple

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,177 20,492 30,896
Median Age: 43.92 40.57 40.76
Households: 558 8,525 12,678
The information presented herein is provided as is, without warranty of any kind. Neither Knoxville Area Association of REALTORS® nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.