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388 Redding Rd, Lexington, KY, 40517

16beds
8baths
7,300sqft
$1,069,900
$147price/sqft
$7,241/moest. monthly cost
$289,640/yrincome needed

About This Home

Attention Investors! 8-Unit Apartment Building. Turn-Key Investment Opportunity With Immediate Value-Add Potential! All the heavy lifting has already been done on this fully occupied asset, making it an easy addition to your portfolio. Recent major capital improvements include a newer roof, gutters, windows, siding, and breaker panels. Several units have also been recently updated/renovated, creating a strong blend of current stability and upside through future interior updates. The property is currently 100% occupied, with all tenants (8) on month-to-month leases, offering maximum flexibility for rent increases, additional renovations, or portfolio repositioning. 5 of 8 tenants are long-term residents who would love to stay, providing dependable in-place income from day one. Seller is license KY real estate agent.

Getting Around

29
WalkingCar-Dependent
0
TransitVery Limited Transit
44
BikeSomewhat Bikeable

Schools

3/10
7/10
Southern Middle SchoolGrades 6-80.8 mi
3/10
Tates Creek High SchoolGrades 9-121.4 mi

Construction

Condition

  • Year built: 1978

Type & Style

  • Home type: MultiFamily
  • Property subType: Quadruplex

Interior

Bedrooms & Bathrooms

  • Bedrooms: 16
  • Bathrooms: 8
  • Full bathrooms: 8

Heating & Cooling

  • Heating features: Electric
  • Cooling features: Central Air

Interior Area

  • Total structure area: 7,300
  • Total interior livable area: 7,300 sqft

Property

Details

  • Parcel number: 13744638
  • Zoning description: R-3 - PLANNED NBHD RESIDENTIAL

Lot

  • Lot size: 0.27 Acres