Historical Multifamily Sale Listing - Dinsmore Apartments

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Dinsmore Apartments

2208 Dinsmore Dr, Lexington, KY 40502

N/A

42 Units | Multifamily

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Multifamily Property - Off Market

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

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

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.

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

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