232 Waller Avenue, Lexington, KY 40503

$1,525,000
Property Type: Residential Income Status: Closed
Current Price: $1,525,000 List Date: 8/24/2016 Last Modified: 8/26/2025

Overview

Description

Located less than a mile from the University of Kentucky Campus, this multi-family building is positioned in a highly desirable rental area, and boasts VERY strong historical occupancy. The property consists of 10 residential units, comprised of 34 bedrooms as well as a 2 car garage (Leased w/4BR unit). Property is 100% leased through July 31, 2017. The first floor was renovated in 2015, adding 2 brand new residential units (6BR/3BA and 4BR/2BA). The second and third floors consist of 8 recently upgraded 3BR/2BA units. All units contain their own washer/dryer. Tenants are responsible for their own utilities. The property has 24-Hour Video surveillance and sprinkler system.Disclosure: Principal is a licensed real estate agent in the state of Kentucky.

Listing Details MLS# 1618946

Listing Information

Property Sub Type
Apartment

Status Change Information

Price Change Timestamp
2016-10-31T17:56:32Z
Status Change Timestamp
2016-10-31
Purchase Contract Date
2016-09-02
Close Date
2016-10-31
Close Price
1525000
Buyer Financing
Conventional
Sale Type
Arms Length Sale
Concessions Comments
no

Address

County
Fayette
Street Number
232
Street Name
Waller
Street Suffix
Avenue
State
KY
Zip Code
40503
Directions
From Nicholasvill Rd./Limestone - Turn West on Waller Ave. Property is located on your Left - Sign says Waller Crossing.
Parcel Number
25625300

Contract

Original List Price
1600000
Start Showing Date
2016-08-24
Listing Contract Date
2016-08-24
Listing Agreement
Exclusive Right To Sell
Office Exclusive YN
No
SP/LP
0.95

Tax Legal

MLS Area Major
004 - Fayette County SW
Subdivision Name
Forest Park

Parking Information

Parking Total
35

More Information

Building

Year Built
1999

Utilities

Cooling YN
Yes
Heating YN
Yes
Electricity Connected
Yes

Remarks

Public Remarks
Located less than a mile from the University of Kentucky Campus, this multi-family building is positioned in a highly desirable rental area, and boasts VERY strong historical occupancy. The property consists of 10 residential units, comprised of 34 bedrooms as well as a 2 car garage (Leased w/4BR unit). Property is 100% leased through July 31, 2017. The first floor was renovated in 2015, adding 2 brand new residential units (6BR/3BA and 4BR/2BA). The second and third floors consist of 8 recently upgraded 3BR/2BA units. All units contain their own washer/dryer. Tenants are responsible for their own utilities. The property has 24-Hour Video surveillance and sprinkler system.Disclosure: Principal is a licensed real estate agent in the state of Kentucky.

Income and Expenses

Gross Scheduled Income
171000
Net Operating Income
116000

Showing Information

Showing Instructions
Contact Agent for Tours - Must allow 24 hour notice to tenants before any tours. Owner/Agent

Tax & Legal

Zoning Description
R-3

Association/Community

Number Of Buildings
1
Number Of Units Total
10

Interior

Bathrooms Half
0

Lot

Lot Size Acres
0
Lot Size Square Feet
0

Association Amenities

Security
Yes

Cooling

Electric
Yes

Heating

Electric
Yes

Parking Features

On Site
Yes
Paved
Yes

Possession

Close Of Escrow
Yes

Roof

Shingle
Yes

Security Features

Fire Sprinkler System
Yes

Structure Type

Multi Family
Yes

Property Features

Utilities: Electricity Connected; Electricity Connected Association Amenities: Security Cooling: Electric Heating: Electric Parking Features: On Site; Paved Possession: Close Of Escrow Roof: Shingle Security Features: Fire Sprinkler System Structure Type: Multi Family
Listing Office: Block + Lot Homes
Last Updated: August - 26 - 2025
Information deemed reliable but not guaranteed.
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