Multi-housing / PRS

The Stretch - Kentucky

1051 Red Mile Rd Lexington, Kentucky United States 40504-2787
Asking Price Contact for pricing
Area Size
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
Area Size
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Key facts

Building Area Net
Number of units 170
Occupancy 78.0 %

Property description

Jones Lang LaSalle, L.P. and JLL Real Estate Limited proudly present The Stretch, a 533-bed/170-unit student housing community located at the University of Kentucky. Kentucky is a nationally recognized Power-5 university with back-to-back years of record enrollment numbers after a Fall 2021 enrollment of 31,800 students that featured a 10% year over year increase in graduate students. The Property allows investors to take advantage of a meaningful value-add opportunity requiring minimal capital. Current ownership has invested over $2.5 Million in upgrading the property which allows a new investor to take advantage of the work that has been done and push rents and occupancy to market which results in a $950,000 increase in annual revenue.


Broker of Record: Doug Owen - License # KY - 198490


Investment highlights

  • Recent $2.5MM capital infusion allows a new investor the opportunity to bring rents and occupancy to market.
  • University of Kentucky is a growing university with current enrollment of 31,800 students and zero beds in the development pipeline.
  • Best-in-class location near restaurants, nightlife and campus. 
Last Updated Date: 13 Nov 2021

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Last Updated Date: 13 Nov 2021

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