800 Highland AveCovington, KY 41011

Property Details for 800 Highland Ave

Lot size

3.98 AC

Property size (Sq ft)

92,000 SF

Property type

Other commercial real estate

APN

055-21-02-086.01

APU

55210208601

Description

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.

• Alternative Use

  Use

  Valuation

  Residential

  $9,062,453

  Hospitality

  $8,301,158

  Educational

  $6,906,466

  Medical

  $7,143,990

  Retail

  $10,743,392

Location Insight

City

Ft Wright

County

Kenton

State

Kentucky

Latitude

39.0637

Longitude

-84.5204

CBSA code

17140

CBSA name

CINCINNATI-MIDDLETOWN, OH-KY-IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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