Cedar Run Apartment Homes is a Class ‘B’ asset located in a very highly desirable area of Lexington, KY. This stable, cash flowing property has been well managed and maintained. The value-add opportunity is unprecedented given that the property has not traded in 32 years! The current rent roll is has abundant room for growth. Cedar Run apartments and its’ competitors maintain a high occupancy due to the fabulous proximity to abundant choices of restaurant, amenities and The Fayette Mall. Nearby new construction at Fritz Farm is driving rents in the entire sub-market.
|Cedar Run Apartment Homes is located at an ideal home destination. With visibility from New Circle Road and its 3-minute drive to the Fayette Mall gives this property a great location score. The Fayette Mall is one of Kentucky’s largest malls with over $1.1MM leasable square feet. The mall is central Kentucky’s premier shopping destination with over 170 retailer and dining options including Apple, The Disney Store, H&M, Michael Kors, Sephora and The Cheesecake Factory.
Cedar Run is also conveniently located within 3 miles of some of Lexington’s major employers – Baptist Health Lexington, University of Kentucky Hospital and School, as well as the VA hospital.
Rarely is a property with such opportunity for sophisticated upgrades brought to market.