1640 Nicholasville Rd, Lexington, KY, 40503
About This Home
Rare investment opportunity in a prime Lexington location! This updated 4-unit apartment complex is ideally situated next to Central Baptist Hospital and just over a mile from the University of Kentucky, offering strong rental demand and excellent convenience. Each of the four units features 2 bedrooms and 2 full baths, with spacious living rooms that provide comfortable gathering space and an ample kitchen with plenty of cabinet storage, making each unit highly desirable for tenants. All units are located on the third floor of a professional office building, offering added privacy and a unique mixed-use setting. The property includes a common laundry area with coin-operated machines, as well as both elevator and stair access for ease of entry. Tenants will also appreciate the onsite paved parking lot, a valuable amenity in this highly sought-after area. With updated interiors, generous living spaces, and a fantastic location, this property is perfect for investors looking to expand their portfolio with a low-maintenance, income-producing asset.
Getting Around
Car-Dependent
Very Limited Transit
Very BikeableSchools
Construction
Condition
- Year built: 1985
Materials
- Roof: Shingle
Type & Style
- Home type: MultiFamily
- Property subType: Quadruplex
Interior
Appliances
- Laundry features: Common Area
Bedrooms & Bathrooms
- Bedrooms: 8
- Bathrooms: 8
- Full bathrooms: 8
Heating & Cooling
- Heating features: Heat Pump,Natural Gas
- Cooling features: Central Air,Ceiling Fan(s),Electric,Heat Pump
Interior Area
- Total structure area: 4,097
- Total interior livable area: 4,097 sqft
Property
Details
- Parcel number: 10028140, 10028150, 10028160, 10028170
- Attached to another structure: Yes
- Zoning: Other
Lot
- Lot size: 0.69 Acres
Parking
- Parking features: On Site,Paved
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Tornado
- Cold Wave
- Lightning
- Strong Wind
- Winter Weather
- Earthquake
- Hail
- Inland Flooding
- Ice Storm
How This Home’s Risks Compare
FEMA Declared Disasters Across Kentucky Counties
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $3,918 | $47,016 |
| Home Insurance * | $312 | $3,744 |
| Property Taxes | $542 | $6,504 |
| Electricity | $323 | $3,882 |
| Total | $5,095 | $61,140 |
Income You'd Need if You Spent...
Kentucky FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
No zestimate history available
Price History
| Date | Event | Price |
|---|---|---|
| 2026-04-09 | Listed for sale | $775,000 |
| 2026-01-24 | Listing removed | $699,000 |
| 2025-11-25 | Price change | $699,000 |
| 2025-11-11 | Price change | $729,000 |
| 2025-10-22 | Price change | $799,000 |
| 2025-09-19 | Listed for sale | $858,000 |
| 2025-09-10 | Contingent | $859,000 |
| 2025-09-05 | Price change | $859,000 |
| 2025-09-03 | Listed for sale | $899,000 |
| 2025-08-21 | Contingent | $899,000 |
| 2025-08-18 | Price change | $899,000 |
| 2025-06-30 | Listed for sale | $1,070,000 |
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