1050 Horsemans Lane, Lexington, KY 40504

$2,125,000
Property Type: Residential Income Square Footage: 20,136 Lot Size (sq. ft.): 49,223 Status: Closed
Current Price: $2,125,000 List Date: 11/10/2021 Last Modified: 8/26/2025

Overview

Description

Excellent investment opportunity near University of Kentucky Campus and the recently renovated Red Mile. Property has an excellent rental history with students. Both roofs replaces in 2013 as well as many other capital improvements. 24 two bed/two bath units with laundry facilties in each unit. Onsire secure parking.

Listing Details MLS# 20123599

Listing Information

Comp Sale YN
No
Property Sub Type
Apartment

Status Change Information

Status Change Timestamp
2021-11-01
Purchase Contract Date
2021-08-23
Close Date
2021-10-29
Close Price
2125000
Buyer Financing
Conventional
Sale Type
Arms Length Sale
Concessions Comments
No

Address

County
Fayette
Street Number
1050
Street Name
Horsemans
Street Suffix
Lane
Street Suffix Modifier
1054
State
KY
Zip Code
40504
Directions
Corner of Red Mile and Horseans Lane
Parcel Number
10024260

Contract

Original List Price
2125000
Start Showing Date
2021-11-01
Listing Contract Date
2021-08-23
Listing Agreement
Exclusive Right To Sell
Occupant Type
Occupied
Office Exclusive YN
No
List Price/Acre
1880530.97
List Price/SqFt
105.53
Sold Price/Acre
1880530.97
Sold Price/SqFt
105.53
SP/LP
Yes

Tax Legal

MLS Area Major
004 - Fayette County SW
Subdivision Name
Red Mile
High School District
Fayette County - 1

Interior

Living Area
20136
Bathrooms Half
0

More Information

Parking Information

Parking Total
55

Building

Year Built
1992
Accessibility Features YN
Yes

Lot

Lot Size Acres
1.13
Lot Size Square Feet
49223

Utilities

Cooling YN
Yes
Heating YN
Yes
Electricity Connected
Yes

Remarks

Public Remarks
Excellent investment opportunity near University of Kentucky Campus and the recently renovated Red Mile. Property has an excellent rental history with students. Both roofs replaces in 2013 as well as many other capital improvements. 24 two bed/two bath units with laundry facilties in each unit. Onsire secure parking.

Building and Property Details

Building Expansion Potential YN
No
Lot Expansion Potential YN
No
Age of Roof
5

Unit Details

Number Of Units Vacant
Yes

Showing Information

Showing Instructions
Call Chris Mitchell 859-321-2898 for a private tour. Do not visit the property without an appointment

Tax & Legal

Elementary School
Picadome
Middle Or Junior School
Jessie Clark
High School
Lafayette
Tax Rate
1.2727
Zoning Description
B-3

Association/Community

Number Of Buildings
2
Number Of Units Total
24

Cooling

Electric
Yes

Heating

Electric
Yes
Heat Pump
Yes
Natural Gas
Yes

Listing Terms

1031 Exchange
Yes
Cash
Yes
Conventional
Yes

Possession

Close Of Escrow
Yes

Roof

Composition
Yes
Shingle
Yes

Special Listing Conditions

Standard
Yes

Structure Type

Multi Family
Yes

Property Features

Utilities: Electricity Connected; Electricity Connected Cooling: Electric Heating: Electric; Heat Pump; Natural Gas Listing Terms: 1031 Exchange; Cash; Conventional Possession: Close Of Escrow Roof: Composition; Shingle Special Listing Conditions: Standard Structure Type: Multi Family
Listing Office: Bluegrass Sotheby's International Realty
Last Updated: August - 26 - 2025
Information deemed reliable but not guaranteed.
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