150 Deweese St, Lexington, KY 40507

Property Description

Downtown Lexington income property producing over $103,000 in 2024 and projected to exceed $111,000 in 2025! Built in 2016, this 5-unit multifamily offers modern construction, low maintenance, and strong rental demand in one of Lexington's most desirable areas. Each unit features a 1-bed/1-bath layout with full kitchen and bath — ideal for long-term tenants or short-term rental flexibility. With a 2024 gross income of $103,455 and 2025 projections approaching $111,000, the property delivers an estimated 7% cap rate at the current list price of $1,120,000. All five units are leased, including one performing well as a short-term rental. Tenants love the walkability to Rupp Arena, the University of Kentucky, downtown restaurants, and major employers. Zoned B-2A, this property provides flexibility for mixed use and continued appreciation in the downtown corridor. A true turn-key investment combining reliable cash flow, location, and long-term growth potential. Highlights: • 5 Units | 5 Beds | 5 Baths | 2,772 SF Total | Built 2016 • 2024 Gross Income: $103,455 | 2025 Projected: $111,455 • Estimated NOI: $78,000+ | 7% Cap Rate at $1.12M • Prime Downtown Location — Walk to Rupp & UK • Zoned B-2A | Low-Maintenance Modern Construction