414 Morrison Avenue,Lexington, KY 40508
Lexington, KY 40508
Description
This offering includes both sides of the duplex at 414 and 414½ Morrison Avenue. Each unit features two bedrooms and one full bathroom. Both units are currently rented for $625 per month, providing a combined gross monthly income of $1,250. Estimated market rents in the property's current condition are approximately $1,100 to $1,300 per unit, offering significant income-growth potential. The 414 Morrison Avenue unit was updated in 2014, while the 414½ unit has not been updated and offers an opportunity for future improvements and additional value. Neither side has a lease; both tenants currently occupy on a month-to-month basis. This is a solid opportunity for an investor seeking immediate rental income with substantial upside potential near downtown Lexington.
Details
| MLS # | 26021218 |
|---|---|
| Listing Type | For Sale |
| Style | Duplex |
| Sub-Type | Resale |
| Status | Active |
| Year | 1958 |
| Days On Site | 34 |
| Listing Provided By | Belmont Realty Group | Cole T Guthrie |
Features
| Bed(s) | 4 |
|---|---|
| Bath(s) | 2 Total |
| SQ Feet | 1,581 |
| Units | 2 |
| Building(s) | 2 |
| Zoning | R-2 |
| Acreage | 0.13 |
Interior
| Cooling | Central Air |
|---|---|
| Heating | Forced Air, Natural Gas |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
Exterior
| Roof | Composition, Shingle |
|---|
Parking
| Attached Garage Yes / No | No |
|---|---|
| Parking Features | On Street, On Site, Open, Paved |
Utilities
| Utilities | Cable Connected, Electricity Connected, Natural Gas Connected, Water Connected |
|---|
Area Information
| State | KY |
|---|---|
| County | Fayette |
| City | Lexington |
| Zip Code | 40508 |
| Area | 001 Fayette County NW |
| Subarea | Fayette County NW |
| Community Name | Downtown |
| School District | Fayette County |
| Elementary School | Harrison |
| High School | Lafayette |
| Listing VS Median (in Downtown) | |
Price: $249,900 low | high Med: $225,000 sqft: 1,581 low | high Med: 7,444 $ / sqft: $158 low | high Med: $96 On site: 34 low | high Med: 108.5 | |
Market Activity 40508
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Learn More About This Property
| State | KY |
|---|---|
| County | Fayette |
| City | Lexington |
| Zip Code | 40508 |
| Area | 001 Fayette County NW |
| Subarea | Fayette County NW |
| Community Name | Downtown |
| School District | Fayette County |
| Elementary School | Harrison |
| High School | Lafayette |
| Listing VS Median (in Downtown) | |
Price: $249,900 low | high Med: $225,000 sqft: 1,581 low | high Med: 7,444 $ / sqft: $158 low | high Med: $96 On site: 34 low | high Med: 108.5 | |
