Phoenix I & II is a two property portfolio located in Lexington, KY. It includes a 72 unit and 10 unit building.
Property:
Phoenix I & II is a two property portfolio located in Lexington, KY comprised of a 1964 built 72 unit building and a 1974 10 unit building. This is a stabilized asset with historically high occupancy and great cash flows.
Strategy:
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.
Highlights:
Our business plan includes the following improvements.
Bring in a well qualified property management company to better manage all aspects of operations and greatly reduce expenses.
Renovate all unit interiors and Improve exterior appearances to attract higher quality tenants
Bring rents to market levels in-line with the neighborhood to drive revenues up by over 20%
Implement Green Program to reduce water and electricity consumption by >15%
Bill back remaining utility expenses
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