6501 Old New Cut Rd | Fairdale, KY 40118
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6501 Old New Cut Rd
Fairdale, KY 40118
6501 Old New Cut Road · Land For Sale · 30.47 AC
Investment Highlights
- Large Apartment Community Development Opportunity
- Also Investor Opportunity for 8% Preferred Return and Percentage Ownership for Double Digit Return
- Will be the Best Apartment Community in this part of the Area
- Inplace Zoning Allows for Over 900 Apartment Units with Most Recent Plan for 344 Units in Upscale Community
- Investor will Also Share in Accelerated Depreciation from Cost Segregation Study with Substantial Tax Write-Offs
PROPERTY FACTS
| Property Type | Land | Total Lot Size | 30.47 AC |
| Property Subtype | Residential |
| Property Type | Land |
| Property Subtype | Residential |
| Total Lot Size | 30.47 AC |
Description
Rolling terrain will make for a picturesque apartment community. Land has some floodway along New Cut Road frontage that will insulate the community from that busy road and provide a land feature to round out this future development. Some higher elevations to the west will also provide a block from neighbors. Multi-family zoning already in place permitting a maximum density of over 900 multi-family units.
PROPERTY TAXES
| Parcel Number | 105007210000 | Improvements Assessment | $1,778,830 |
| Land Assessment | $3,749,580 | Total Assessment | $5,528,410 |
PROPERTY TAXES
Parcel Number
105007210000
Land Assessment
$3,749,580
Improvements Assessment
$1,778,830
Total Assessment
$5,528,410
zoning
| Zoning Code | R-5A and R-7 |
| R-5A and R-7 |
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