Catylist ID: #30712310
25 unit- Income Producing Apartment Building Lexington- High CAP Rate
Multi-Family for Sale
|Catylist Listing ID:||30712310|
|Number of Units:||25 Units|
|Building Size (RSF):||15,000 SF|
|Gross Building Area:||15,640 SF|
|Gross Land Area:||0.34 Acres|
|Unit Price:||$78,000 Per Unit|
|Property Use Type:||Investment|
|Building Name:||Carriage House Apartments|
|Sale Terms:||Cash to Seller|
Overview / Comments
Rare opportunity to own a 25 unit 1 bedroom 1 bath - 600 square feet per unit apartment building in south Lexington.
17 of the units have been 100% renovated in modern finishes and colors. Leaving 8 of the units that are partially renovated allowing for a new owner to renovate.
Take advantage of low apartment financing rates while you can. This Asset will cash flow with a nice yield on your investment. Tenants pay electric.
Parking lot in the rear recently blacktopped.
Upside could include finishing renovation of remaining 8 units. Adding Laundry Facilities( Existing room available plumbed and ready to go). Could add an additional apartment unit on the first floor.
Attachments & Media
|Property Located Between:||Off of Alexandria Drive close To Kroger|
|Highway Access:||Close to Airport and major highways|
|Area Description:||Plenty of nearby shopping and restaurants|
|Number of Stories:||2|
|Parking Description:||Plenty of onsite and offsite parking|
|Heat Source:||Wall Units|
|Air Conditioning:||Window Unit|
|Interior Description:||Updated units with modern colors and appliances (17). New flooring in all units. Air Conditioning and heating provided by individual wall units. Each unit is separately metered for electric. Each unit also has an individual hot water heater with a capacity of 30 gallons. Each unit equipped with an electric oven/range combination, microwave, and refrigerator/freezer. Most units received updated appliances in 2017-2020 renovations. Premium flooring and appliances in some units.|
|Proximity:||1 mile||3 miles||5 miles|
Stuart StebletonThe Gibson Company KCREA Member
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