Phoenix I & II is a portfolio located in Lexington, KY and comprised of a 1964 built 72 unit building and a 1974 10 unit building. This is a stabilized asset with historically high occupancy and good cash flows. The property was self-managed by the current owner for over 15 years. When purchased, both buildings required a capital infusion for interior and exterior renovations. The rents were well below market and the expenses were very high.
Maximize rent potential and investor returns through capital improvements to enhance overall appeal and marketability in a neighborhood that was well above the condition of this property.
Our business plan includes the following improvements.