Creekside Senior and Nicholasville Greens
56-Unit Nicholasville Portfolio with Defined Rent Upside & Recent Capital Improvements
Marketing description
Creekside Senior & Nicholasville Greens is a 56-unit affordable housing portfolio located in Nicholasville, KY, within the Lexington MSA. The portfolio includes two assets located less than one mile apart, creating operational efficiencies through shared management, maintenance, and leasing oversight. Creekside Senior offers one- and two-bedroom senior housing units, while Nicholasville Greens features larger three- and four-bedroom townhome-style floorplans, providing exposure to multiple renter segments.
The offering provides a defined path to rent growth while remaining within the existing 60% AMI affordability framework, with in-place rents trailing 2026 Jessamine County net max rents across the unit mix. Current ownership has also completed meaningful capital improvements across the properties, reducing near-term capital needs for new ownership. The portfolio benefits from proximity to Lexington’s major employment drivers, including the University of Kentucky, Kentucky State Government, Toyota Kentucky, Baptist Health, Amazon, and other regional employers.
Investment highlights
$250K+ CAPITAL IMPROVEMENT
Current ownership has invested $257,264 in completed capital improvements across the properties, covering exterior & structure, interior finishes, mechanical & electrical, furniture & appliances, security & access, and landscaping, reducing near-term capital needs for new ownership.
DEFINED RENT UPSIDE WITHIN EXISTING AFFORDABILITY LIMITS
The portfolio offers clear rent growth potential while remaining within the existing 60% AMI affordability framework. At Creekside Senior, average in-place rents trail the 2026 Jessamine County net max rents by approximately $230/month for 1BD units and $326/month for 2BD units. At Nicholasville Greens, average in-place rents trail net max rents by approximately $349/month for 3BD units and $415/month for 4BD units. Across the combined 56-unit portfolio, these spreads represent a defined path to increase rental income while maintaining affordability compliance.
DIVERSE PRODUCT MIX SERVING MULTIPLE RENTER SEGMENTS
The portfolio combines Creekside Senior’s efficient one- and two-bedroom senior housing units with Nicholasville Greens’ larger three- and four-bedroom townhome-style floorplans. This gives new ownership exposure to multiple renter profiles within the same submarket, including seniors, families, and residents seeking larger living spaces at an attainable price point.
STRONG AREA INCOMES SUPPORT ATTAINABLE RENTAL DEMAND
The portfolio benefits from a stable income base within Nicholasville and Jessamine County, with an average household income of approximately $82,345 in Nicholasville, $83,892 within a 5-mile radius, and nearly $113,900 across Jessamine County. This income profile supports continued demand for attainable rental housing while providing new ownership with room to capture rent growth from below-market in-place rents.
UNDERSERVED SENIOR RENTAL MARKET WITH STRUCTURAL DEMAND TAILWINDS
Creekside Senior represents a rare dedicated senior rental offering in Nicholasville, with limited comparable senior-only communities in the immediate market and the nearest concentrations located farther out in Lexington and Richmond. This local supply constraint is reinforced by a nationwide senior housing shortage, positioning Creekside to capture sustained demand from seniors seeking attainable 55+ housing within Nicholasville.
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