4-Unit Multi-Family Investment Property

Multi-Family for Sale
Sale Pending
Catylist Listing ID: 30721479
Property Subtypes: Duplex/Fourplex
Status: Pending
Number of Units: 4 Units
Building Size (RSF): 5,000 SF
Sale Price: $315,000
Unit Price: $78,750 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 4/7/2021

Overview / Comments

We are pleased to present this 4-unit multi-family investment opportunity in
the bustling Richmond Road corridor of Lexington, Ky, just minutes away ample grocery shopping, restaurants, downtown Lexington, and more. This meticulously cared for quad was fully renovated in '14 by owner, who added new laminate flooring and replaced all windows. In an area where population growth is outpacing housing supply - this is your opportunity to
purchase a multi-family asset that is going to grow with the Bluegrass!

Highlights:
Presented at $315,000 — this is a cash flowing investment property with plenty of rent upside

100% occupied & has consistently leased for length of ownership

Brick Exterior — well built and meticulously cared for investment property

Owner transitioning out of residential into commercial investments

Current under market rents leave the next owner with plenty of upside as units turn

Opportunity for next owner to pass thru 100% of the utility expenses

Additional Details

Nearest MSA: Lexington-Fayette
County: Fayette
Tax ID/APN: 38000820
Zoning: R-4
Percent Occupied: 100%
Area Description: Lexington, Kentucky has been rated as one of America's premier cities by some of the most noted and revered industry standard-bearers, such as Forbes magazine, the U.S. Census Bureau, Cognetics consulting group, Dun & Bradstreet, Ladies Home Journal, and Places Rated Almanac - just to name a few. Most people think of rolling countryside with stone fences, great basketball action, horse farms, Thoroughbred racing at Keeneland, a diverse economy, and outstanding schools, colleges and universities. Our community ranks high in quality of life factors, such as health care, public safety, educational attainment, and quality family living. The area also measures high among the best places for business location, creativity, entrepreneurial growth, and career relocation. Residents of competing cities view Lexington as a beautiful place, with great schools, an innovative health care system, a strong economy, and mountains of potential.
Total Number of Buildings: 1
Property Condition: Good
Number of Stories: 2
Year Built: 1999
Year Renovated: 2014
Parking Type: Surface

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 13,919 107,298 213,600
Median Age: 31.24 34.53 34.65
Households: 6,809 48,176 92,308
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