16-Unit Multifamily Opportunity in Fayette County

Highlights:

• Strong Cash Flow: Year 1 NOI - $117,402 at 6.02% Cap
• $.95/sf with neighboring properties achieving $1.46/sf
• Capital Improvements: New roofs in 2021
• 2 Buildings (8,480 SF each)
• Ample green space (1.68 acres)
• Modern and spacious 2 bedroom/2 bathroom units
• Utilities are separately metered
• Washer and dryer hookups in each unit
• 1/2 of the hvac systems have been replaced in the last 4 years
• Built in 1999, gas heat
• Zoned R-4
• Prime location with proximity to Hamburg, I-75, and Man O' War Blvd
• 100% occupancy

Description:

SVN | Stone Commercial Real Estate is pleased to present this 16-unit multifamily investment opportunity at 400-450 Dabney Drive, Lexington, KY 40509. Built in 1999, this well-maintained complex features all two-bedroom, two-bath units, offering comfortable living spaces in a convenient Lexington location.

Situated in the 40509 ZIP code, this property benefits from strong rental demand and proximity to key amenities, including shopping, dining, and major employers. With easy access to I-75 and New Circle Road, residents enjoy seamless connectivity to downtown Lexington and the surrounding areas.

This is an excellent opportunity for investors seeking stable cash flow in a thriving market. For more information or to schedule a tour, contact Justin Ryder, CCIM at 859.447.3285 or Justin.ryder@svn.com or Rachel Ridd at 859.327.7261 or Rachel.ridd@svn.com for more information.

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.

Documents: