115 Delmont Dr - Apartments FOR SALE


Lexington, KY 40504- Cardinal Valley
$500,000 USD
859-309-0099
115 Delmont Dr, Lexington, KY for Sale
$500,000 USD
Apartments - FOR SALE
1/7
null | 5.4% Cap Rate

115 Delmont Dr
Lexington, KY 40504
Cardinal Valley


HIGHLIGHTS

  • Individually metered and Tenant-paid utilities
  • Quiet residential street with easy access to New Circle Road & Downtown Lexington
  • Rare fourplex with a detached garage for each unit
  • Long-term tenants in place
  • Off-street parking for all units

OVERVIEW

115 Delmont Drive is a 4-unit multifamily property in Lexington, KY. The property, built in 1950, is 3,600 square feet and situated on 0.344 acres. Each unit is 800 square feet and offers two bedrooms, one bathroom, and a detached garage. The units feature hardwood floors, a kitchen, dining area, and living room. All utilities are individually metered and paid by Tenants. The property is located on a quiet residential street with off-street parking for all units. The location offers easy access to New Circle Road, downtown Lexington, and amenities on Versailles Road. This property can be sold individually or along with other properties in a 60-unit multifamily portfolio. The 60-unit multifamily portfolio is strategically located in the heart of Central Kentucky, offering excellent access to major employment centers, universities, healthcare centers, and retail corridors. The Central Kentucky area benefits from strong renter demand, low vacancy rates, and a stable market. This is a rare opportunity to acquire a large and stabilized multifamily portfolio in one of Kentucky's most reliable rental markets. The other properties in the portfolio are 1416 Townley Drive, Lexington, KY and 200 N. Hill-N-Dale Street, Danville, KY. Financials available upon request. -Individually metered and Tenant-paid utilities -Quiet residential street with easy access to New Circle Road & Downtown Lexington -Rare fourplex with a detached garage for each unit -Long-term tenants in place -Off-street parking for all units Unit Features: -Two bedrooms; One bathroom -800 SF -Hardwood floors -Kitchen, living room, and dining area -Glass and screened-in covered patio

FOR SALE DETAILS

PRICE

$500,000 USD

PRICE/SF

$139 USD /SF

# OF UNITS

4

PRICE/UNIT

$125,000

CAP RATE

5.4%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

115 Delmont Drive

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1950

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.35 AC

LAND SF

15,246 SF

ZONING

R-1C

APN/PARCEL ID

24584100

ASK ABOUT THIS PROPERTY

Alaina StokesBlock + Lot Real EstateMore Info
859-309-0099

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Alaina StokesBlock + Lot Real EstateMore Info
859-309-0099

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.