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256-258 Meadowview Drive , 1-8

Frankfort, KY 40601
  • $599,500
  • STATUS: Active
  • ON SITE: 37 Days
  • MLS #: 22010736
UPDATED: 27 min ago
$599,500
  • 16
    BEDS
  • N/A
    ACRES
  • 8
    BATHS
  • 0
    1/2 BATHS
  • 7,056
    SQFT
  • $85
    $/SQFT
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

Wonderful opportunity to purchase two four-plexes (8 total units) on the west side of Frankfort in the Meadows. These lots are side-by-side and share a common driveway with private parking in the rear. All units are 2 BR, 1 BA. The rent roll as of 6-1-22 is $5463 per month or $682 average per unit per month. Tenants pay their own electric. Owner pays the water and sewer and mows and maintains the yards. Professionally managed by the listing broker since September 2021. 4 of the 8 units have turned over under the current management while the other 4 units are under leases. There is an opportunity to raise the rents on 5 of the 8 units by Sept 30. The last units were rented at $725, $700, and $700 respectively. The owner just invested over $40,000 in foundation repairs for the 258 building using the Basement Doctor with a lifetime warranty on the scope of work. For passive investors, the current property manager is willing to discuss future property management. Information can be provided about separating the water meters at each building to pass along the W&S costs to the tenants. Buildings are sold AS-IS and inspections are welcome. No renegotiation

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Lexington-Bluegrass Association of Realtors logo The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of the Lexington-Bluegrass Association of Realtors Multiple Listing Service. Real estate listings held by IDX Brokerage firms other than Better Homes and Garden Real Estate Cypress are marked with the IDX logo and detailed information about them includes the name of the listing IDX Brokers. Information is deemed reliable but is not guaranteed accurate by the MLS or listing broker.
www.lexingtonkyhomesearch.com/homes/129158044
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256-258 Meadowview Drive , 1-8 Frankfort, KY 40601

  • Price: $599,500
  • Status: Active
  • On Site: 37 Days
  • Updated: 27 min ago
  • MLS #: 22010736
16
Beds
8
Baths
0
½ Baths
N/A
Acres
7,056
SQFT
$85
$/SQFT
Neighborhood:
Meadows
County:
Franklin
Area:
Franklin County
Property Description
Wonderful opportunity to purchase two four-plexes (8 total units) on the west side of Frankfort in the Meadows. These lots are side-by-side and share a common driveway with private parking in the rear. All units are 2 BR, 1 BA. The rent roll as of 6-1-22 is $5463 per month or $682 average per unit per month. Tenants pay their own electric. Owner pays the water and sewer and mows and maintains the yards. Professionally managed by the listing broker since September 2021. 4 of the 8 units have turned over under the current management while the other 4 units are under leases. There is an opportunity to raise the rents on 5 of the 8 units by Sept 30. The last units were rented at $725, $700, and $700 respectively. The owner just invested over $40,000 in foundation repairs for the 258 building using the Basement Doctor with a lifetime warranty on the scope of work. For passive investors, the current property manager is willing to discuss future property management. Information can be provided about separating the water meters at each building to pass along the W&S costs to the tenants. Buildings are sold AS-IS and inspections are welcome. No renegotiation
Exterior Features

Parking 11 - 20 SpacesOn SitePaved Roof Shingle Stories Two Structure Type ApartmentsLow RiseQuadruplex

Interior Features

Cooling Electric Heating Forced AirHeat Pump

Property Features

Current Zoning Multi Family Number Of Vacant Units 0 Possession Landlord Tax Rate $13.945 Per $1000 Assessment Vacancy Percent 0.00

Lexington-Bluegrass Association of Realtors logo Listing provided courtesy of Rick Pulliam of Pulliam Realty Group. Listing information © 2022 LBAR Multiple Listing Service. All rights reserved.
Lexington-Bluegrass Association of Realtors logo The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of the Lexington-Bluegrass Association of Realtors Multiple Listing Service. Real estate listings held by IDX Brokerage firms other than Better Homes and Garden Real Estate Cypress are marked with the IDX logo and detailed information about them includes the name of the listing IDX Brokers. Information is deemed reliable but is not guaranteed accurate by the MLS or listing broker.
 
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