755-757 Terrace View Drive Lexington, KY 40504
MULTI_FAMILY - Lexington, KY
- Added:
- Jul 3, 2026
- Days on Market:
- 11
- Last Refresh:
- Jul 13 at 5:06 am
Property Features for 755-757 Terrace View Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bedroom 1, Laundry Room, Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 2, Bedroom 4
- Standard status
- Pending
- APN
- 16348250
- Size
- 1,582 SF
- Lot size
- 0.18 Acres
Utilities
- Heating system
- Forced Air, Natural Gas
- Cooling system
- Central Air
Building Details
- Year built
- 1965
- Floors in Building
- 1
- Number of units
- 2
Listing agent Joey Young (859) 494-6288
Listing office National Real Estate 829 National Ave Ste 200, Lexington, KY (859) 300-1415
Listing date Jul 3, 2026
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.
The duplex is located on a cul-de-sac and backs to a tree line. It is described as being only a few minutes’ drive from downtown, shopping, and restaurants, and it is addressed as 755-757 Terrace View Drive in Lexington, KY 40504 (Fayette County).
For buyers, this setup supports an owner-occupied or investment approach given that both tenants are described as long standing and responsible for their own rents, utilities, and mowing. The seller notes that rents are currently below market value for the area. Individual showings will be available with 48 hours’ notice.
Key Highlights
- Ranch duplex with 2 units, each featuring 2 bedrooms, 1 bathroom, and a laundry room
- Right side updated with newer cabinets, counters, and vinyl flooring, plus central A/C
- Left side features original hardwood floors exposed, with hardwood under existing vinyl tiles
Local Financial Insights For Multifamily LT 5
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 | $19.7k | $12.48 |
| − Vacancy | −$967 | −$0.61 |
| EGI | $18.8k | $11.87 |
| − OpEx | −$5.6k | −$3.56 |
| NOI | $13.1k | $8.31 |
