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1553 Alexandria Dr
Lexington, KY 40504
Cross Keys & Woodridge · Multifamily Property For Sale
·
166 Units
PROPERTY FACTS
| No. Units | 166 | Lot Size | 4.24 AC |
| Property Type | Multifamily | Building Size | 166,000 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1964 |
| Building Class | C | Parking Ratio | 0.95/1,000 SF |
| Zoning | B-1 | ||
| No. Units | 166 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 4.24 AC |
| Building Size | 166,000 SF |
| No. Stories | 2 |
| Year Built | 1964 |
| Parking Ratio | 0.95/1,000 SF |
| Zoning | B-1 |
AMENITIES
UNIT AMENITIES
- Dishwasher
- Heating
- Kitchen
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Carpet
SITE AMENITIES
- 24 Hour Access
- Business Center
- Grill
- Laundry Service
- Maintenance on site
ABOUT 1553 ALEXANDRIA DR , LEXINGTON, KY 40504
Capstone Apartment Partners is pleased to present Cross Keys & Woodridge Apartments, an exciting opportunity to acquire a 166-unit value-add apartment community in Lexington, KY. The property is located just off Versailles Road near State Route 4 (New Circle Road), and sits in a quiet residential landscape surrounded by parks, schools, and a variety of employment options. The units are split between Cross Keys (80 units) and Woodridge (86 units)—both off Alexandria Drive, roughly a half mile apart. The unit mix features a desirable mix of one- and two-bedroom flats and townhomes, as well as six rentable commercial units. Current ownership has heavily invested in curing deferred maintenance and improving unit interiors in the last 12–18 months to prepare the property for sale—leaving an incoming investor with a strong foundation to build upon. Remodeled “premier” units at Cross Keys & Woodridge are achieving $150 to $200 rental premiums following renovations: leading to 24%+ ROI. The Lexington multi-family market remains strong, and rents have been steadily increasing year-over-year. Several value-add communities have entered the metro; thereby, proving residents can afford and demand the modern finishes and amenities that accompany these renovations.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 83 | - | 622 - 720 |
| 2+1 | 83 | - | 826 - 830 |
PROPERTY TAXES
| Parcel Number | 13830850 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $7,500,000 |
PROPERTY TAXES
