Northern Terrace | 48-Unit Value-Add Multifamily Asset

Located at 3520 Alexandria Pike in Highland Heights, Kentucky, Northern Terrace benefits from exceptional connectivity along the US-27 corridor directly adjacent to Northern Kentucky University. The location boasts robust, built-in demand driven by 112,890 residents within five miles and key lifestyle amenities—including campus facilities, parks, dining, and daily retail—all within a one-mile radius. Local momentum is further boosted by six active regional development projects within three miles, highlighted by a nearby VA Medical Clinic (0.4 mi), the NKY Medical Examiner & KSP Crime Lab (0.2 mi), and major retail centers like Cold Spring Town Center and Cold Spring Pointe. This dynamic setting, combined with versatile unit layouts, ensures sustained appeal across young professionals, roommates, and empty nesters alike.3CRE Advisors exclusively presents Northern Terrace, a 48-unit, six-story multifamily asset (plus basement level) totaling 77,338 SF on 1.997 acres, offered individually or alongside the adjacent Callahan Hall. Featuring uniform, highly functional two-bedroom, two-bathroom floor plans averaging 881 SF, the property presents a premier value-add investment opportunity. A focused cosmetic strategy—upgrading interior cabinetry, hardware, flooring, and finishes alongside exterior façade, landscaping, and parking improvements—positions the asset to capture rising market-rate rents. Moreover, with intact core infrastructure (ceiling-set mini-split HVAC, 3,500-amp three-phase electric, white TPO roof, poured concrete foundation) and R-3 "permitted by right" multifamily zoning, investors can execute capital improvements with low structural risk and minimal capex friction.