400 Dabney Dr - Apartments FOR SALE


Lexington, KY 40509
$1,950,000 USD
859-327-7261
400 Dabney Dr, Lexington, KY for Sale
$1,950,000 USD
Apartments - FOR SALE
1/24
null | Request Cap Rate

400 Dabney Dr
Lexington, KY 40509


HIGHLIGHTS

  • Strong Cash Flow: Year 1 NOI - $117,402 at 6.02% Cap
  • $.95/sf with neighboring properties achieving $1.46/sf
  • New roofs in 2021, 1/2 of the hvac systems have been replaced in the last 4 years
  • 2 Buildings (8,480 SF each)Modern and spacious 2 bedroom/2 bathroom units
  • Built in 1999, gas heat with ample green space (1.68 acres)
  • Utilities are separately metered, washer and dryer hookups in each unit

OVERVIEW

SVN | Stone Commercial Real Estate is pleased to present this 16-unit multifamily investment opportunity at 400-450 Dabney Drive, Lexington, KY 40509. Built in 1999, this well-maintained complex features all two-bedroom, two-bath units, offering comfortable living spaces in a convenient Lexington location. Situated in the 40509 ZIP code, this property benefits from strong rental demand and proximity to key amenities, including shopping, dining, and major employers. With easy access to I-75 and New Circle Road, residents enjoy seamless connectivity to downtown Lexington and the surrounding areas. This is an excellent opportunity for investors seeking stable cash flow in a thriving market. For more information or to schedule a tour, contact Justin Ryder, CCIM at 859.447.3285 or Justin.ryder@svn.com or Rachel Ridd at 859.327.7261 or Rachel.ridd@svn.com for more information.

FOR SALE DETAILS

PRICE

$1,950,000 USD

PRICE/SF

$115 USD /SF

# OF UNITS

16

PRICE/UNIT

$121,875

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Summerlin Ridge Apartments

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1999

PARKING SPACES

26

LAND DETAILS

LAND ACRES

1.68 AC

LAND SF

73,181 SF

ZONING

R-4

APN/PARCEL ID

19993280,38066500

ASK ABOUT THIS PROPERTY

Rachel RiddSVN | Stone Commercial Real EstateMore Info
859-327-7261

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Rachel RiddSVN | Stone Commercial Real EstateMore Info
859-327-7261

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.