THE TOWNHOMES AT AVONLEA PARK

EXECUTIVE OVERVIEW

• UNDER CONTRACT
• THE OPPORTUNITY - Matthews™ is pleased to present The Townhomes at Avonlea Park, a 58-unit garden-style apartment complex located in Paris, Kentucky. The property is situated in a private community and features spacious, well-maintained units that were constructed in the 1950s. This property is bursting with potential, with rents well below the market average, and additional rental upside available through interior renovations. By improving operational efficiencies through professional property management, an incoming investor can bring rents closer to market levels.
• SIGNIFICANT VALUE-ADD - Avonlea has significant value-add potential through unit renovations. Upgrades such as renovated kitchens, baths, and basic improvements to flooring and paint can increase rents to market rates, driving significant income growth.
  
• RENT GROWTH POTENTIAL - The rents in Paris are increasing quickly, driven largely from the demand seen in the Lexington market. This provides an opportunity to draft rents from the larger Lexington and Georgetown markets and provide a well-managed community that is more affordable.
  
• THE MARKET - Paris, Kentucky is a tight-knit community with a population of over 9,000 residents. The city is in Bourbon County and is within a 30 minute drive of several of the large employers, including Dan Cummins, Johnson Control, Amazon, Toyota, and Lexmark. The city is conveniently located between Lexington and Georgetown, offering residents easy access to a variety of shopping, dining, and entertainment options.

EXCLUSIVELY LISTED BY