4032 Rudy Martin Dr, Owensboro, KY 42301

Located on Rudy Martin Dr. just west of Apollo High School, these 5 duplexes are an ideal location for the workforce housing demand the property meets. These duplexes a 10-minute drive to the Owensboro Riverport Industrial Park, downtown Owensboro, and the Owensboro Health Regional Hospital. The Airpark Industrial Park is also less than 2 minutes away providing vast employment choices for prospective residents. Additionally, these duplexes are well-situated in terms of retail amenities in the area. Less than 5 minutes away features a Walmart, Target, Lowe's, Home Depot, Towne Square Regional Mall, multiple bank branches, and many chain and local specialty restaurants. This asset consists of large (737 sf) one-bedroom one-bath apartments has been well maintained and is consistently 95+% occupied as current ownership has focused on high occupancy and high-quality tenants rather than maximizing rents. As a result, current effective rents are below direct competition and the surrounding submarket. This has led to long-term tenants who are low-maintenance. 40% of the tenants have been there since 2015 or longer. This leaves an exciting opportunity for an incoming investor to systematically raise rents to market level, further bolstering the strong in-place cash flow that will produce a 8.92% pro forma cap rate and a 17.4% cash on cash return. Appliances in units: refrigerators and ovens/ranges Disclosure: owner is a licensed real estate broker in the Commonwealth of Kentucky.