$850,000
Lexington, KY 40509
MLS# 1617778
Status: Closed
20 beds | 20 baths | 10000 sqft
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Property Description
Prime location just off Richmond Road inside New Circle Road. Low maintenance all brick exterior, plenty of parking, and numerous updates. Eight (1) bedroom apartments leased at $525.00 per month & twelve (2) two bedroom apartments leased at $600 per month. Tenants pay all utilities. Convenient to downtown, UK, Richmond Road dining/shopping, and easy access to New Circle Road. Call for your personal showing today!!!!
Details
Status Change Information
Price Change Timestamp: 2016-10-27T14:04:44Z
Status Change Timestamp: 2016-10-27
Purchase Contract Date: 2016-09-24
Close Date: 2016-10-19
Close Price: 850000
Buyer Financing: Conventional
Sale Type: Arms Length Sale
Concessions Comments: na
Address
County: Fayette
Street Number: 2069
Street Name: Fontaine
Street Suffix: Road
State: KY
Zip Code: 40509
Directions: Richmond Road in-bound from New Circle, Left on Fontaine Drive.
Parcel Number: 11423050
Contract
Current Price: $850,000
Original List Price: 899900
Status: Closed
Start Showing Date: 2016-08-11
Listing Contract Date: 2016-08-11
Sold Price: $850,000
Listing Agreement: Exclusive Right To Sell
Office Exclusive YN: No
List Price/Acre: 1956304.35
List Price/SqFt: 89.99
Sold Price/Acre: 1847826.09
Sold Price/SqFt: 85
SP/LP: 0.94
Interior
Bedrooms Total: 20
Bathrooms Total: 20
Bathrooms Full: 20
Living Area: 10000
Parking Information
Parking Total: 35
Lot
Lot Size Acres: 0.46
Lot Size Square Feet: 20037.62
Lot Size Dimensions: 154 x ?
Road Frontage Feet: 266
Utilities
Cooling YN: Yes
Heating YN: Yes
Remarks
Public Remarks: Prime location just off Richmond Road inside New Circle Road. Low maintenance all brick exterior, plenty of parking, and numerous updates. Eight (1) bedroom apartments leased at $525.00 per month & twelve (2) two bedroom apartments leased at $600 per month. Tenants pay all utilities. Convenient to downtown, UK, Richmond Road dining/shopping, and easy access to New Circle Road. Call for your personal showing today!!!!
Building and Property Details
Age of Roof: 10
Common Area SqFt: 1038
Laundry SqFt: 140
Storage SqFt: 1100
Income and Expenses
Accounting, Legal & Collections Expense: 600
Advertising License & Permit Expense: 175
Credit and Vacancy Losses: 19400
Electric Expense: 11166
Fuel Expense: 5902
Gross Income: 137400
Gross Operating Income: 117000
Gross Scheduled Income: 134400
Insurance Expense: 4720
Janitorial Services Expense: 1640
Lawn Services Expense: 450
Less Operating Expenses: 45974
Maintenance Expense: 3000
Net Operating Income: 71026
Operating Expense: 45974
Other Contract Labor: 2500
Other Income: 3000
Real Estate Taxes: 5858
Telephone Expense: 1080
Trash Expense: 1054
Vacancy Allowance Rate: 5
Water Sewer Expense: 7829
Unit Details
Number Of Units Vacant: 1
Listing Information
Property Sub Type: Apartment
Tax Legal
MLS Area Major: 003 - Fayette County SE
Subdivision Name: Lakeview
High School District: Fayette County - 1
Building
Year Built: 1967
Property Features
Utilities: Electricity Connected; Natural Gas Connected; Electricity Connected; Natural Gas Connected
Association Amenities: Coin Laundry; Security
Cooling: Electric
Heating: Electric; Hot Water; Natural Gas
Listing Terms: Lease Option
Parking Features: Paved
Possession: Close Of Escrow
Roof: Flat; Membrane; Other
Structure Type: Multi Family
Listing Office: Keller Williams Commonwealth
Last Updated: October - 13 - 2026
Information deemed reliable but not guaranteed.