This exceptional 98-unit senior living community, Ivy Knoll, presents a compelling investment opportunity. Situated on a generous 5.495-acre lot (3.98 acres + 1.51 acres) at 800 Highland Ave, Fort Wright, KY 41011, this seven-story building boasts 92,000 square feet of space. Constructed in 1972, the property includes a mix of studio, one-bedroom, companion, and private suites. A significant portion of the units (30) are fully staffed 24/7, while the remaining 68 offer independent living. The property benefits from its convenient location off I-71/75, providing easy access to Downtown Cincinnati, Covington, and the Cincinnati/Northern Kentucky Airport (CVG). The community is within a five-mile radius of a population exceeding 250,000 residents. Recent capital improvements have significantly enhanced the property, including a new roof, updated flooring, modernized elevators, new HVAC systems, and the installation of solar panels. Furthermore, a new, fully furnished adult daycare center has been added. Approximately 40 residents utilize VA benefits, ensuring a stable and potentially growing revenue stream due to cost-of-living adjustments. This property offers a unique blend of established occupancy, recent upgrades, and a strategic location, making it an attractive investment prospect in the thriving Kentucky market. The property's APN is 055-21-02-086.01.
Highlights
Ivy Knoll Senior Community, a 98-unit property.
7-story building on a 5.495-acre lot (3.98 acres + 1.51 acres) at 800 Highland Ave, Fort Wright, KY 41011.
98 units total: 30 units with 24/7 staffing and 68 independent living units.
Convenient location off I-71/75, minutes from Downtown Cincinnati, Covington, and CVG Airport.
Recently renovated with a new roof, updated flooring, modernized elevators, new HVAC, and solar panels; includes a new adult daycare center.
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Contacts
Billy Gillman
Michael Bergman
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800 Highland Ave, Covington, Kentucky, 41011
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800 Highland Ave
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