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Ashland Park Fourplex Investment Opportunity

122 S Hanover Avenue, Lexington, KY 40502

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Pending

$799,000

MULTI_FAMILY - Lexington, KY

Property size:

3,740 SF

Lot size:

0.17 Acres

HighLights

1930 stately brick 4‑plex with 3‑car garage, full shared basement with storage and laundry area
Each unit has individual central heat/air, hardwood floors, spacious closets, and outside decks/porches
Unit mix includes first‑floor units 1 & 2 plus second‑floor units 3 & 4; unit 3 has a large rear deck
Rents: Unit 1 $1,000 and Unit 2 $1,150 and Unit 4 $1,300 are month‑to‑month; Unit 3 lease ends Sept 1, 2026
Recent updates include roof and garage doors (5 years old), rebuilt front porch roof (2026), exterior painted (2026), and 2025 HVAC replacement
Historic H‑1 overlay requires approval for exterior changes

We can help!

Contact an agent

Debra Fister

Pending

$799,000

MULTI_FAMILY - Lexington, KY

Property size:

3,740 SF

Lot size:

0.17 Acres

Added:: May 11, 2026
Days on Market:: 58
Last Refresh:: Jul 7 at 3:06 pm

Property Features for 122 S Hanover Avenue

General Information

Property type: Residential Multi Family
Property subtype: Other
Zoning: R-2
Bedrooms: 4
Bathrooms: 4
Rooms: Bedroom 4, Bathroom 4, Bathroom 1, Laundry Room, Bathroom 3, Bedroom 3, Bedroom 1, Bedroom 2, Bathroom 2
Parking: 5
Parking features: Open
Standard status: Pending
APN: 13325900
Size: 3,740 SF
Lot size: 0.17 Acres

Utilities

Heating system: Electric (Heating), Heat Pump (Heating)
Cooling system: Heat Pump, Electric

Building Details

Year built: 1930
Floors in Building: 2
Number of units: 4
Roof type: Rubber, Composition

We can help!

Contact an agent

Debra Fister

Listing agent Debra Fister

Listing office United Real Estate Bluegrass 424 Lewis Hargett Cir Ste 120, Lexington, KY

Listing date May 11, 2026

MLS# 26010528 Listing URL

HighLights

1930 stately brick 4‑plex with 3‑car garage, full shared basement with storage and laundry area
Each unit has individual central heat/air, hardwood floors, spacious closets, and outside decks/porches
Unit mix includes first‑floor units 1 & 2 plus second‑floor units 3 & 4; unit 3 has a large rear deck
Rents: Unit 1 $1,000 and Unit 2 $1,150 and Unit 4 $1,300 are month‑to‑month; Unit 3 lease ends Sept 1, 2026
Recent updates include roof and garage doors (5 years old), rebuilt front porch roof (2026), exterior painted (2026), and 2025 HVAC replacement
Historic H‑1 overlay requires approval for exterior changes

Overview

This Ashland Park fourplex presents an investment opportunity or potential for conversion into individual ownership or a single-family home. The property is conveniently located near Downtown, Chevy Chase, the University of Kentucky, the Henry Clay Estate, Kenwick Table, local shops, and restaurants. Each unit features hardwood floors, individual central heating and air conditioning, spacious closets, and outside decks or porches. There are also three garage spaces and a driveway that accommodates at least two additional cars. Units 1 and 2, located on the first floor, each include a living room, bedroom, and kitchen, with both front and rear exits and front porch access. Unit 3, on the second floor, features a living room, formal dining room, large kitchen, bath, bedroom, and access to a large deck off the rear, with both front and rear exits. Unit 4, also on the second floor, includes a living room, kitchen, and bath, with a large bedroom and office area with a deck off the rear on the third floor. The property includes a three-car garage and a full shared basement with storage and laundry facilities; coin-operated laundry could be installed. The roof and garage doors were replaced 5 years ago. One HVAC unit was replaced in 2025, the front porch roof was rebuilt in 2026, and the exterior was painted in 2026. The property is situated on a 0.1722-acre lot. The property is in a Historic H-1 overlay, requiring approval for exterior changes. The building size is 3740 square feet. The zoning is R-2. All tenants would like to continue renting. Unit 1 rents for $1000, Unit 2 for $1150, and Unit 4 for $1300 on a month-to-month basis. The lease for Unit 3 ends on September 1, 2026. Rental amounts of units 3 and 4 are under typical market rent.

Property Profile Location Intelligence

Current Use by Public Records

Quadplexes

Suggested Use

Location Insight

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Local Demand

City: Lexington
County: Fayette
State: Kentucky
Longitude: -84.483931
Latitude: 38.033218

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For sale
Quadplexes
KY
Lexington
40502
122 S Hanover Avenue

What type of property is this?

Quadplex - Stately brick fourplex near Downtown, Chevy Chase, and UK.

Where is this quadplex located?

The property is located at 122 S Hanover Avenue Lexington, KY.

What is the asking price?

The asking price for this property is $799,000.

What are key features of this property?

This property features: 1930 stately brick 4‑plex with 3‑car garage, full shared basement with storage and laundry area; Each unit has individual central heat/air, hardwood floors, spacious closets, and outside decks/porches; Unit mix includes first‑floor units 1 & 2 plus second‑floor units 3 & 4; unit 3 has a large rear deck

122 S Hanover Avenue, Lexington, KY 40502

MULTI_FAMILY - Lexington, KY

Property Features for 122 S Hanover Avenue

General Information

Utilities

Building Details

We can help!

HighLights

Overview

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Renovated Medical Office Building

Medical and Professional Office Property

Renovated Office Building with Reserved Parking

Historic Creative Office Building

Iconic Downtown Lexington Office Building

Updated Flex Building in Lexington

Downtown Lexington Mixed-Use Building

Multi-Tenant Building with Solar Panels

Versatile Medical Office Building

Auto Sales Property with Office/Showroom

Top-Floor Office Suite Portfolio

Lexington Commercial Building For Sale

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