199 E Loudon Ave - Office/Residential FOR SALE


Lexington, KY 40505- Castlewood
$899,000 USD
502-418-9405
199 E Loudon Ave, Lexington, KY for Sale
$899,000 USD
Office/Residential - FOR SALE
1/104
null | 11.51% Cap Rate

199 E Loudon Ave
Lexington, KY 40505
Castlewood


OVERVIEW

Step into a piece of Lexington's history with the stunning John T. Patterson House, a beautifully restored gem in the vibrant North Lime District. Originally built in 1895, this exquisite property seamlessly blends historic charm with modern updates. Situated on nearly 0.5 acres in the heart of downtown, the property features: One spacious 2-bed, 1-bath apartment - thoughtfully updated for comfort and style Four charming 1-bed, 1-bath apartments - ideal for tenants seeking convenience and character Seven versatile office spaces - perfect for entrepreneurs, creatives, or growing businesses Two first-floor apartments are registered STRs, and furniture conveys - offering immediate income potential The property currently generates $8,625 in monthly rent, with additional opportunities to increase revenue. Extensive renovations in 2015 and 2020 brought this iconic property into the modern age with new HVAC systems, a new roof, updated sewer and electrical systems, and refinished floors - all enhanced by fresh paint throughout. 12 Units. 5 apartments (101, 102, 201, 302, 303). 7 home offices (202, 203, 204, 205, 206, 301, 304). Apt 101 is a 2/1 MTR/STR (furniture included) Apt 102 is a 1/1 MTR/STR (furniture included) 201, 302, 303 are 1/1 LTRs

FOR SALE DETAILS

PRICE

$899,000 USD

PRICE/SF

$133 USD /SF

CAP RATE

11.51%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Office/Residential

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

B

YEAR BUILT

1895

SPRINKLERS

-

PARKING SPACES

15

LAND DETAILS

LAND ACRES

0.48 AC

LAND SF

20,909 SF

ZONING

R-3

APN/PARCEL ID

13503604

ASK ABOUT THIS PROPERTY

Patrick DoyleNational Real EstateMore Info
502-418-9405

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Patrick DoyleNational Real EstateMore Info
502-418-9405

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