$1,995,000
1844 1854 Augusta Dr, Lexington, KY 40505
Current Rent **
$10,000+
Projected Rent **
$10,000+
26 Unit Apartment Complex in Lexington, KY!
ATTENTION INVESTORS! 26 Unit apartment complex in the Eastland Parkway neighborhood. Huge opportunity to continue adding value to this property. 19/26 units have been newly renovated in the last 3 years. Professional management in place, and are continuing to bring leases up to market rates as they turnover/renew. Potentially increase NOI by 10% or more by implementing RUBS system for utilities. Currently 17/26 units are paying partial utility fees. Laundry area could be converted to an additional unit, further increasing income. Additionally, the adjacent lot (included) is also zoned multifamily, giving potential for new construction. Just minutes drive from downtown Lexington, a short walk from Dixie Elementary School, with amenities across the street, this property has had no problems staying occupied! Contact listing agent for Offering Memorandum, T12, etc.
Location:
1844 1854 Augusta Dr, Lexington, KY 40505
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** Current rent and projected rent are provided by the lister.
† Rental comps are pulled by looking at property characteristics (beds, baths, structure type), date the rent listing was captured, and proximity to the searched location.
‡ Confidence levels range from low to very high. Confidence is determined by the number of recent and relevant comparable properties for any given search. A very high confidence level indicates a high number of recent and similar rental listings.
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