Parkside Heights Lexington, KY

Investment Highlights

• Premier Quality Asset – 2021-2022 Construction
• Value-Add via Washer and Dryer Additions
• Units Among Largest in Submarket
• Upside of $162/Unit by Capturing Loss to Lease & Bringing Rents to Market
• 3 Additional Acres Provide Upside Opportunity with Existing Amenity Package
• Value-Add Via Internet Service Charge
• Strategic Location with Strong Demographics Near Employment, Retailers, and Highway Connectivity 
• Premier School District in Lexington
• Strong Multifamily Fundamentals & Rental Demand in the Southeast Fayette Submarket

Premier Quality Asset – 2021 Construction

Parkside Heights Apartments showcases exceptional high-quality construction. Impressive interior finishes include soaring 9-foot ceilings, kitchen islands, as well as oversized balconies and patios. Popular amenities that increase tenant retention include an updated clubhouse, two pools, grill area, and a 24-hour fitness center.

Value-Add via Washer and Dryer Additions

Each unit at Parkside Heights is equipped with washer/dryer hookups, providing tenants with the convenience of doing laundry within the comfort of their homes. However, the property does not currently provide machines, allowing tenants the flexibility to bring their own. By offering washer and dryer machines, the property can generate an additional $75 per month from each tenant, contributing to an impressive annual income boost of $127,395. This pricing strategy aligns with the market standards, ensuring competitiveness while capitalizing on the demand for in-unit conveniences. 

Units Among Largest in Submarket

Parkside Heights offers a well-thought-out unit mix, comprising 1-bedroom, 2-bedroom, and 3-bedroom apartments. This diverse range caters to a broad spectrum of tenants, from individuals seeking cozy spaces to families requiring more extensive accommodations. The generous average unit size of 1,122 square feet further enhances its appeal, ranking among the largest in the submarket for similar properties. This not only positions Parkside Heights as a stand out choice for those looking for spacious living but also strengthens its competitive edge in the local real estate market. The larger unit sizes contribute to increased tenant satisfaction, making the property a compelling option for investors seeking both immediate returns and long-term value appreciation.

Tenant Services