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$ 249,900
4 Beds
2 Baths
1,581 SqFt
$ 249,900
4 Beds
2 Baths
1,581 SqFt
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Square Footage 1,581 sqft
Price per Sqft $158
Subdivision Downtown
MLS Listing ID 26021218
Bedrooms 4
Full Baths 2
Year Built 1958
Lot Size 5,624 Sqft
Acres 0.13
Property Sub-Type Duplex
Property Description
This offering includes both sides of the duplex at 414 and 414½ Morrison Avenue. Each unit features two bedrooms and one full bathroom. Both units are currently rented for $625 per month, providing a combined gross monthly income of $1,250. Estimated market rents in the property's current condition are approximately $1,100 to $1,300 per unit, offering significant income-growth potential. The 414 Morrison Avenue unit was updated in 2014, while the 414½ unit has not been updated and offers an opportunity for future improvements and additional value. Neither side has a lease; both tenants currently occupy on a month-to-month basis. This is a solid opportunity for an investor seeking immediate rental income with substantial upside potential near downtown Lexington.
Location
State KY
County Fayette
Zoning R-2
Interior
Heating Forced Air, Natural Gas
Cooling Central Air
Laundry Main Level
Exterior
Parking Features On Street, On Site, Open, Paved
Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Water Connected
View Y/N N
Roof Type Composition,Shingle
Handicap Access No
Private Pool No
Schools
Elementary Schools Harrison
Middle Schools Lexington Trad
High Schools Lafayette
Listed by Belmont Realty Group
Nearby School & Business