1218 Winburn Drive, Lexington, KY 40511

$985,000
Property Type: Residential Income Status: Closed
Current Price: $985,000 List Date: 3/06/2016 Last Modified: 8/26/2025

Overview

Description

Excellent investment opportunity in Lexington's northern district. Large 1 and 2 bedroom units in busy rental area. Close to I-75 and I-64 for commuters, great location for public transportation as well. Great growth potential with many units below market value.

Listing Details MLS# 1604044

Listing Information

Property Sub Type
Apartment

Status Change Information

Price Change Timestamp
2016-09-06T16:20:04Z
Status Change Timestamp
2016-09-06
Purchase Contract Date
2016-05-23
Close Date
2016-08-22
Close Price
985000
Buyer Financing
Conventional
Sale Type
Arms Length Sale
Concessions Comments
No

Address

County
Fayette
Street Number
1218
Street Name
Winburn
Street Suffix
Drive
State
KY
Zip Code
40511
Directions
From New Circle Road take Russell Cave Road outbound. Make left at Winburn Drive, apartment complex on the left.

Contract

Original List Price
1250000
Start Showing Date
2016-03-05
Listing Contract Date
2016-03-05
Listing Agreement
Exclusive Right To Sell
Office Exclusive YN
No
SP/LP
0.92

Tax Legal

MLS Area Major
001 - Fayette County NW
Subdivision Name
Winburn Estates

Parking Information

Parking Total
56

More Information

Building

Year Built
1969

Utilities

Cooling YN
Yes
Heating YN
Yes
Electricity Connected
Yes

Remarks

Public Remarks
Excellent investment opportunity in Lexington's northern district. Large 1 and 2 bedroom units in busy rental area. Close to I-75 and I-64 for commuters, great location for public transportation as well. Great growth potential with many units below market value.

Income and Expenses

Credit and Vacancy Losses
45492
Electric Expense
96000
Fuel Expense
6500
Gross Income
454920
Gross Operating Income
409428
Gross Scheduled Income
454920
Insurance Expense
33600
Less Operating Expenses
221427
Net Operating Income
188001
Operating Expense
221427
Real Estate Taxes
20527
Trash Expense
4800
Water Sewer Expense
60000

Showing Information

Showing Instructions
24 hour notice required to view occupied units

Tax & Legal

Zoning Description
r-4

Association/Community

Number Of Buildings
3

Interior

Bathrooms Half
0

Lot

Lot Size Acres
0
Lot Size Square Feet
0

Cooling

Electric
Yes
Window Unit(s)
Yes

Heating

Baseboard
Yes
Electric
Yes
Natural Gas
Yes

Possession

Close Of Escrow
Yes

Roof

Shingle
Yes

Special Listing Conditions

Standard
Yes

Structure Type

Multi Family
Yes

Property Features

Utilities: Electricity Connected; Electricity Connected Cooling: Electric; Window Unit(s) Heating: Baseboard; Electric; Natural Gas Possession: Close Of Escrow Roof: Shingle Special Listing Conditions: Standard Structure Type: Multi Family
Listing Office: Horse Capital Realty
Last Updated: August - 26 - 2025
Information deemed reliable but not guaranteed.
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