1416 Townley Dr 16 Unit Apartment Building $1,733,050 CAD ($108,316 CAD/Unit) 5.40% Cap Rate Lexington, KY 40511

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.
Property Highlights:
-Opportunity to add coin laundry in the basement of the property
-Updated exterior staircases
-Strong demand rental area with low vacancy rates
-Ideally located in the popular Meadowthorpe neighborhood near new “The Commons” development
-Located near Leestown Road - a main Lexington thoroughfare, public transit, and retail centers
Unit Features:
-Studio apartment; One bathroom
-330 square feet
-Hardwood and tile floors
-Designated kitchen area with range, oven, and refrigerator