Click Here for Offering Materials: Fernwood Apartment Homes
Capstone Apartment Partners is pleased to present Fernwood Apartment Homes: a 126-unit multi-family asset constructed in 1950 in Paducah, Kentucky. The property is located near Interstate 24; within one mile of Mercy Health Hospital and Baptist Health Hospital; and proximate to the city’s resurgent downtown riverfront district. In addition to the suitable target tenant profile located in the immediate area, the asset offers prospective ownership potential income streams and cost savings through correcting multiple operational inefficiencies; therefore, the resulting cap rates would be 6.75% in Year 1 and 10%+ in Year 3. Because Fernwood Apartment Homes has been held by the same ownership for more than 20 years, returns are strengthened by several tax benefits and programs available to potential buyers.
