241 Mcdaniel Ave Richmond, KY 40475

This exceptional investment opportunity presents a stabilized, 204-unit multifamily portfolio situated in the thriving Richmond and Berea, Kentucky markets within the Lexington MSA. The portfolio comprises 24 buildings constructed between 1998 and 2022, totaling 188,426 square feet across approximately 20 acres. The property mix includes a diverse range of unit types: 120 two-bedroom townhomes, 40 two-bedroom flats, and 44 one-bedroom flats. Building features include central heating and air (tenant-paid), washer/dryer connections, separate water heaters, fully equipped kitchens, and private patios or balconies. A significant upgrade was completed in October 2024 with new roofs installed across all five buildings. The portfolio boasts a current occupancy rate of 96%, with an occupancy date of December 2, 2024. Water, sewer, and trash services are provided by the owner, with a RUBS charge of $25, $35, or $45 implemented in June 2024. The properties are strategically located near Eastern Kentucky University and Berea College, attracting a mix of student and market-rate renters. The portfolio is held under fee simple ownership and is zoned 401, 402, and 403. This is a rare opportunity to acquire a well-maintained, high-performing multifamily portfolio in a desirable location with significant upside potential. The properties are comprised of seven distinct locations, with unit counts ranging from 6 to 62 units per location.