Fox Run | Lexington, KY

Property Overview

Matador North and Fox Run Apartments, while separate assets, have been owned and managed together for years, prior to R.Investments acquiring the portfolio. Located in the Winburn neighborhood just four miles Northeast of Downtown Lexington, the properties sit one mile from I-64/75, making it an easy commute for residents.

Collectively, Matador North and Fox Run total 317 units and 16 buildings, of which two garden/low-rise assets  cover 8.5 square acres of land. Privately owned single family homes surround the property. Upon acquisition, our focus was placed on the heavily deferred maintenance of both communities, which has since been the driving force towards achieving stabilization and retention. With R. Investments’ maintenance oriented management structure, we’ve been able to successfully reposition both assets, offering an enhanced potential for increased NOI for the next owner. Both communities’ diverse selection of modern 1, 2 and 3 bedroom apartments coupled with their centric location in the Winburn School District have made both communities a primary residential target for families in the area.

Property Details

Name: Fox Run Apartments
Property Address: 1840 McCullogh Drive, Lexington, KY 4051
Assessor’s Parcel Number: 119-67-700

Site Description

Number of units: 146
Number of buildings: 9
Number of Stories: 3
Year Built: 1972
Rentable Square feet: 186,852 Feet +/- Lot size: 4.38 Acres +/-

Construction

Foundation: Concrete Block
Framing: Wood Frame
Exterior: Brick
Parking Surface: Asphalt
Roof: Pitched/Shingle

Mechanical

Heat Pump