Turn-Key Quadplex Income
For Sale
$455,000
265 S Highland Street, Winchester, KY 40391
MULTI_FAMILY - Winchester, KY
Property Size5,058 SF
Lot Size0.14 Acres
Price / SF$89.96
Days on Market143
Property Features for 265 S Highland Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
R-1C
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 7, Bathroom 4, Bedroom 1, Bedroom 4, Bedroom 5, Bedroom 6, Bedroom 2, Bedroom 8, Bedroom 3, Bathroom 1, Laundry Room, Bathroom 2, Bathroom 3
Parking features
Offsite
Subdivision
Downtown
Elementary school
Conkwright
Middle school
Robert Campbell
High school
GRC
Elementary school district
Clark County - 7
Middle school district
Clark County - 7
High school district
Clark County - 7
Directions
Take Lexington Ave east through town, and turn right on South Highland. Home is on the left.
Standard status
Active
APN
054-4004-023-00
Size
5,058 SF
Lot size
0.14 Acres
Utilities
Heating system
Electric (Heating)
Cooling system
Central Air
Building Details
Year built
1940
Floors in Building
2
Number of units
4
Roof type
Shingle
Listing Agency:
RE/MAX Elite Lexington · RE/MAX International
(859) 245-1165
Listed By:
J Corey Griffo · License #70549
(502) 804-7067
Added: Mar 12
Changed: Jul 17
Last Checked: Aug 1 at 8:06AM
MLS# 26004961
Copyright © 2026 ImagineMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This turn-key quadplex offers four residential units, each featuring two bedrooms, one bathroom, a full kitchen, and its own private laundry area. The property has been updated throughout and is described as clean and well-maintained, ready for new tenants.
The quadplex is located at 265 S Highland Street in Winchester, Kentucky, in the downtown area near shopping, dining, and local amenities.
Utilities are separately metered, and the overall configuration provides a total of eight bedrooms and four bathrooms across approximately 5,058 square feet.
The quadplex is located at 265 S Highland Street in Winchester, Kentucky, in the downtown area near shopping, dining, and local amenities.
Utilities are separately metered, and the overall configuration provides a total of eight bedrooms and four bathrooms across approximately 5,058 square feet.
Key Highlights
- Downtown Winchester quadplex built in 1940 with approximately 5,058 SF total
- 8 bedrooms and 4 bathrooms total across the four units
- Each unit offers 2 bedrooms, 1 bathroom, a full kitchen, and private laundry area
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $73.4k | $14.52 |
| − Vacancy | −$3.2k | −$0.64 |
| EGI | $70.2k | $13.88 |
| − OpEx | −$31.6k | −$6.25 |
| NOI | $38.6k | $7.63 |
5,058 SF · lease $14.52/SF/yr · vacancy 4.40% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$616.5K
$539.4K – $719.2K
NOI $43,154 @ 7.0% cap · market cap 9.48%
Second Best
Apartment 5plus
$551.7K
$482.7K – $643.6K
NOI $38,616 @ 7.0% cap · market cap 8.49%
Theoretical Best
Office A
$1.28M
$1.12M – $1.50M
NOI $89,733 @ 7.0% cap · market cap 19.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
613
Businesses Nearby
Explore this area
Business Placement
Demographics for 40391, KY
36,461
Population
16,125
Households
2.3
Avg Household Size
41
Median Age
22%
College-Educated
90%
High-School Grad
237.3 sq mi
ZIP Area
154
Density / Sq Mi
$67,910
Median Household Income
$40,323
Median Earnings
$884
Median Rent
$197,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Updated quadplex with four two-bedroom units, each with a private laundry area and separately metered utilities.
Where is this quadplex located?
The property is located at 265 S Highland Street Winchester, KY.
What is the asking price?
The asking price for this property is $455,000.
What are key features of this property?
This property features: Downtown Winchester quadplex built in 1940 with approximately 5,058 SF total; 8 bedrooms and 4 bathrooms total across the four units; Each unit offers 2 bedrooms, 1 bathroom, a full kitchen, and private laundry area
