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1124 Kees Road, Lexington, KY

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1124 Kees Road

Lexington, KY 40505 - Outer East Lexington MF Submarket

Property Type:Multi-Family Number of Units:12 Status:Existing Year Built:1964
Stories:2 Building Size:7,192 SF Land Area:.17 AC (7,405 SF)
For Sale Price:$890,000 Price/Unit:$74,166.67 Cap Rate:7.88 % GRM:-

Parking:2.36 Parking Spaces / 1,000 SF

Sale Notes:
Two well maintained buildings consisting of 12 units per building. All units are 1 bedroom and 1 bath spacious corner units that include hardwood floors throughout the living areas, walk in closets and tile bathroom flooring. All units are separately metered for electric, gas and water that the tenants are responsible to pay for. Most of the units have been upgraded over the past few years and both buildings have new roofs and gutters that are only two years old. Many of the units have new water heaters, HVAC systems and appliances. Property also consists of a separate laundry facility for the tenants that generates extra income for the owners. Rental rates are well below market at $390, which provides the new owner with tremendous upside.

Cypress Property Group
Brian Lubeck
(859) 368-0203 x2

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