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$ 1,250,000
Active
1416 Townley Drive Lexington, KY 40511
16 Beds
16 Baths
5,040 SqFt
UPDATED:
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 5,040 sqft
Price per Sqft $248
Subdivision Commercial
MLS Listing ID 26000503
Bedrooms 16
Full Baths 16
Year Built 1959
Lot Size 0.405 Acres
Acres 0.41
Property Sub-Type Apartment
Property Description
1416 Townley Drive is a 16-unit multifamily property in Lexington, KY. Its location offers excellent access to downtown Lexington, major employment centers, universities, public transportation, healthcare centers, and retail corridors. The property, built in 1959, is 5,040 square feet and is situated on .405 acres. Each unit is a 330 square feet studio apartment with hardwood and tile floors and a designated kitchen area with range, oven, and refrigerator. Basement storage is available to Tenants and there is an opportunity to add coin laundry in the basement. The property is ideally located in the popular Meadowthorpe neighborhood near the new Commons development and just off Leestown Road, a main Lexington thoroughfare. The location is a strong demand rental area with low vacancy rates. 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. 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 200 N. Hill-N-Dale Street in Danville, KY and 115 Delmont Drive in Lexington, KY. Financials available upon request.
Location
State KY
County Fayette
Zoning R-1C
Interior
Heating Other
Cooling Other
Exterior
Parking Features On Site, Paved
View Y/N N
Handicap Access No
Private Pool No
Schools
Elementary Schools Meadowthorpe
Middle Schools Leestown
High Schools Dunbar
Listed by Block + Lot Real Estate