This Multifamily Property is Off-Market.

1980 Cambridge Drive
Lexington, KY 40504 ·

70 Units · Multifamily For Sale

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Cambridge Apartments

Price N/A Cap Rate 9.11%
No. Units 70 Gross Rent Multiplier 4.63
Building Size 56,550 SF Occupancy 93%
Property Type Multifamily No. Stories 2
Property Sub-type Garden/Low-Rise Year Built 1969
Property Use Type Investment Lot Size 2.83 AC
Listing ID: 16063815 Date Created: 01/19/2009 Last Updated: 06/25/2009

Description

Cambridge Apartments consists of six building's, with a unit-mix including sixteen one-bedroom, one-bathroom garden-style units. Twenty-four deluxe one-bedroom, one-bathroom garden-style units, twenty-four two-bedroom, one-bathroom garden-style units and six two bedroom, one-bathroom town home units.
The property was constructed in 1969 and includesseparatee water, gas, and electric meters for all units.
The individual building addresses are as follows: 1980, 1988, 1990, 200, 2008 and 2016 Cambridge Drive.
Major capital expenditure's made by the owner within the last three years are balcony decking replaced, completely rehabed laundry facility including new machines, completely rehabed leasing office.

Cambridge Apartments is a 70 unit apartment complex on Lexington's westside, conveniently located north of Versailles Road just over a mile from downtown Lexington.

Research

1980 Cambridge Drive, Lexington, KY 40504 (Fayette County)

Property Record Data - Historical Listings, current tax, mortgage, owners & tenant info for this property

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