This Multifamily Property is Off-Market.

2208 Dinsmore Dr
Lexington, KY 40502 ·

42 Units · Multifamily For Sale

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Dinsmore Apartments

Price N/A Gross Rent Multiplier 5.02
No. Units 42 Occupancy 97%
Building Size 22,680 SF No. Stories 3
Property Type Multifamily Year Built 1969
Property Sub-type Garden/Low-Rise Lot Size 1 AC
Property Use Type Investment Parking Ratio 1.30 / 1,000 SF
Cap Rate 8.01%
Listing ID: 16271172 Date Created: 06/09/2009 Last Updated: 10/12/2010

Description

Marcus and Millichap is pleased to present Dinsmore Apartments, an
apartment complex located on the southeast-side of Lexington,
Kentucky near the intersection of Richmond Road and New Circle. The
property was constructed in 1969 and consists of 41, 540-square foot, 1-
bedroom units. Each unit equipped with an individual exterior entry
way, a full kitchen, living room and separate bedroom. The
apartment's equipped with a wall unit that supplies both air
conditioning and heating. The owner is responsible for paying both
water and electric. The property is not equipped with natural gas.

The city of Lexington is continuing to experience responsible growth in
order to preserve the region's horse farms, which brings millions of
dollars to the city both in the way of the horse industry and tourism.
During the mid-1990's the majority of the growth was on the southwest
side of Lexington between Harrodsburg Road and Tates Creek Road.
Over the past few years, the path of growth has moved to the Southeast
quadrate of Lexington, just south of Dinsmore Apartments causing that
area around the property for experience revitalized.

The University of Kentucky is located 10 minutes north of Dinsmore
Apartments and continues to be the the largest employer in the city of
Lexington and is the reason why Lexington has remained a young and
vibrant city.

Highlights

  • Well Performing Asset
  • Room to Increase Rents or Pass Back Utilities
  • Great Sub-Market of Lexington
  • One Block from New Built Walgreen's and Applebee's
  • All Electric Units
  • Each Unit Has Separate Entry Access

Research

2208 Dinsmore Dr, Lexington, KY 40502 (Fayette County)

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

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