Pennyrile Senior Apartments 111 E 4th St Immeuble residentiel 35 lots À vendre Hopkinsville, KY 42240

The Kirkland Company is pleased to present Pennyrile Senior, a 35-unit senior affordable housing community located in downtown Hopkinsville, Kentucky, within the Clarksville, TN-KY MSA. Built in 2005, the property features a senior-focused unit mix of 28 one-bedroom and seven two-bedroom units, with all units restricted at 50% AMI through December 31, 2035. Its walkable downtown location provides residents convenient access to healthcare, restaurants, retail, government offices, churches, and senior-oriented services.
Pennyrile Senior presents a compelling opportunity to acquire a well-located affordable asset with multiple paths to improved performance. Current occupancy of approximately 83% creates meaningful stabilization upside, while average in-place rents remain below 2026 net maximum allowable rents, providing additional embedded revenue potential within the existing affordability structure. Current ownership has also invested more than $143,000 in recent capital improvements, reducing near-term deferred maintenance needs. The investment is further supported by constrained senior affordable housing supply in Hopkinsville, where existing senior-restricted affordable communities are reported at 100% occupancy and the 75+ population is projected to grow 18.2% from 2024 to 2029.