Renovated 16-unit Multi-Family Property In Downtown Lexington

160 164 Constitution Street, Lexington, KY

$795,000

Price

9,455 sqft

Building Size

16

Units

Overview
Building Size
9,455 sqft
Units
16
Description

SVN Stone Commercial Real Estate is pleased to present this opportunity to purchase two multi-family properties in downtown Lexington. 160 & 164 Constitution include 16 units (15 units + 1 commercial space currently occupied by a barbershop). Seller has done much of the heavy lifting in terms of renovation, including new flooring throughout, windows, bathroom fixtures, countertops, LED lights, and kitchen appliances in all but one unit, leaving the next owner with the opportunity to bump up rents to market levels.

The property features downtown walkability, sits close to Transylvania University, and offers plenty of access to boutique shopping & local restaurants. For additional information please contact Justin Ryder at justin.ryder@svn.com // 859-447-3285 or Matt Stone at matt.stone@svn.com // 859-351-5444.


Lexington, Kentucky

Highlights
  • PRICE REDUCED!
  • Opportunity to invest in multi-family property in Fayette Co, a market with high barriers to entry
  • Over $120K in renovations including flooring throughout, windows, kitchen appliances, countertops, LED lights, & bathroom fixtures.
  • Rents are currently under-market
  • Potential addition of laundry income & utility pass through
  • ~5/6 parking spots for residents
  • Possible AirBnb and/or VRBO opportunity
  • Front doors either lock or have keypad for extra security
  • Construction underway on adjacent block for Studio180, a $12 million, three-story building which will feature 119 studio apartments starting at $895/month
Documents

Location
Gallery