Meadow Pointe

  • Price: $Market Bid
  • Address:

    545 Henrico Road
    Harrodsburg, KY 40330

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Description

THE OPPORTUNITY
Loss-to-lease: Current ownership has raised market rents providing a loss to lease opportunity of $125 per unit per month for in-place rents. This provides over $100,000 of loss-to-lease recapture, a $1.42MM equity increase when factored at a 7 cap.
Value-Add: Rehab down units and increase occupancy.

THE MARKET
The largest employment sector of the Harrodsburg economy is manufacturing. Approximately 30% of workers employed in Mercer County are employed at one of the community’s manufacturing operations. Manufacturing firms located in Mercer County are:

Hitachi Automotive – 1,450 Employees
Essity (Formerly Wausau – 5215 Employees
Corning, Inc. – 420 Employees
Kentucky Utilities Brown Plant – 200 Employees
Toyota Boshoku – 134 Employees

RECENT CAPEX
New Exterior windows in all units (2022)
Unit Turns from 6/2022 forward receive new paint, tub surrounds, flooring.
Plumbing/Structural/Mechanical work as needed

Listing Details

Price:$Market Bid
Address:545 Henrico Road
City:Harrodsburg
State:KY
Zip Code:40330
Year Built:1981

Location Map

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