100% Occupied and Renovated Multi-Family Investment Opportunity
150, 154, and 160 Landings
Frankfort, KY 40601
Highlights
- $1,150,000 list price | $95,833/unit | $128/SF
- Three side-by-side 4-plex buildings, 12 units (150, 154, and 160 Landings Drive)
- All 2BR/1BA units, 750 SF each | ~9,000 SF total
- 100% Occupied
- In-place rents: Avg $909/unit | Recent leases as high as $998/unit
- Fully renovated in 2020
- 7.25% Year 1 Cap Rate at list
- Investor opportunity: turnkey stabilized small-MF with minimal near-term capex
- 1031 opportunity: clean replacement asset
- Year built 1980 | All-electric heating and cooling (tenant-paid utilities)
- Marketed exclusively by SVN Stone Commercial Real Estate — contact Justin Ryder, CCIM with questions and more info
Description
SVN Stone Commercial Real Estate is pleased to offer 150, 154, and 160 Landings Drive — a turnkey 12-unit multifamily portfolio in Frankfort, Kentucky's capital city. The offering consists of three side-by-side four-plex buildings on Landings Drive, all completely renovated in 2020 (roofs, HVAC systems, plumbing, electrical) with a follow-on roof replacement in 2022. All 12 units are identical 2-bedroom / 1-bathroom layouts averaging 750 SF, currently 100% occupied with strong in-place rents averaging $909/month and recent leases trending higher.
Offered at $1,150,000 ($95,833/unit, $128/SF). Ideal for investors seeking a stabilized, turnkey small-multifamily play with minimal near-term capex burden, or a 1031 buyer needing a clean replacement asset in a stable secondary market. Please contact Justin Ryder, CCIM at 859-447-3285 // Justin.Ryder@svn.com.
The Landings is positioned on Landings Drive off Schenkel Lane in west Frankfort — just minutes from US-60 / Versailles Road, providing fast access to downtown Frankfort, I-64, and the broader Lexington–Louisville corridor. The subdivision sits in a quiet residential pocket with good street appeal and on-site parking — characteristic of stable working-professional rental neighborhoods that lease quickly and stay leased. The US-60 corridor delivers Kroger, Walmart, McDonald's, Wendy's, Tractor Supply, and a deep mix of essential retail and service businesses serving Frankfort's day-to-day population.
Frankfort is the capital of Kentucky and the seat of Franklin County, with a population of approximately 52,000. The Commonwealth of Kentucky is the city's largest employer — providing one of the most stable rental tenant bases in the region, as state government workforce drives steady, recession-resistant rental demand. Major private-sector employers include Buffalo Trace Distillery (the world's most-awarded distillery), Topy America (automotive parts manufacturing), Jim Beam American Stillhouse, and the broader Kentucky-Toyota automotive supplier network. Frankfort's median household income is approximately $57,000 with a median age of 40 — a stable, family-and-working-professional demographic with strong renter representation.
Frankfort sits in the heart of Central Kentucky, ~30 miles west of Lexington and ~50 miles east of Louisville along the I-64 corridor — one of Kentucky's primary east-west arterials. The Bluegrass region offers a diversified economy anchored by the University of Kentucky (Lexington), the world-class Thoroughbred industry (Keeneland Race Course), strong healthcare systems (UK HealthCare, Baptist Health), advanced manufacturing, and growing logistics distribution. Lower cost of living, stable government and industrial employment, and a tight small-multifamily inventory make Frankfort one of Central Kentucky's most defensible small-investor markets.Frankfort’s location provides convenient access to Lexington, Louisville, and Cincinnati, making it an attractive destination for visitors and businesses alike. Outdoor recreation thrives with scenic river views, parks, and nearby trails, while cultural attractions—including museums, historic districts, and year-round community events—create a welcoming and authentic sense of place. With a strong commitment to economic development, education, and quality of life, Frankfort continues to grow while preserving the character that makes it distinctly Kentucky.
