1740 Jennifer Drive, Lexington, KY 40505 - multi-family property

Detailed information about multi-family property which situated in Lexington (40505) city, Kentucky state on 1740 Jennifer Drive.

Additional Information: Excellent Yield at a great cap rate! Offered well below the appraised value of $2,350,000! Pleasant Green Apartments is a renovated and well maintained apartment property in a high demand area of Lexington, KY. The property consists of 87 units with convenient unit mix that includes 32 1br/1ba and 55 2br/1ba units. The property is separately metered for electric, but Landlord currently charges utilities in the rent. The surrounding area contains a strong demand for rental housing, and the property is currently enjoying strong occupancy. There have been extensive renovations performed on the property. These include: replacement of many HVAC units, doors, flooring, grading/drainage correction, gutters and correction of countless deferred maintenance items. Circumstances have led this seller to price this property aggressively to sell at $17,126 per unit. Current gross income is $469,020 on an annualized basis. The owner is in the process of increasing rents to even higher levels. Call today for further details on this stabilized and well priced opportunity!