Brick Duplex with
For Sale
$725,000
Pending
110-112 S Hanover Ave, Lexington, KY 40502
Two residential units offer hardwood floors, original built-ins, separate living and dining rooms, and shared lower-level storage.
Property Size2,580 SF
Days on Market150
Property Features for 110-112 S Hanover Ave
General Information
Standard status
Pending
Size
2,580 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
hardwood floors
original built-ins
shared basement laundry
private brick courtyard
Building Details
Year Built
1920
Buildings
1
Construction
brick
Listing Agency:
Bluegrass Sotheby's International Realty
Listed By:
Jake Wiseman · License #220118
(859) 608-7178
Source:
Centralkyhomesforsale
Added: May 18
Changed: Oct 1
Last Checked: Oct 12 at 8:03PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Bluegrass Sotheby's International Realty
Investment Insights
Based on property information with market context.
Built in 1920, this 2,580-square-foot brick duplex contains two residential units with a consistent period layout. Each unit includes hardwood flooring, original built-ins, separate living and dining rooms, two bedrooms, and one full bathroom. A common basement provides laundry facilities and additional storage, while the private brick courtyard adds shared outdoor space.
The property is located in Ashland Park at 110-112 S Hanover Ave in Lexington, Kentucky. Chevy Chase shops, local restaurants, parks, and other Ashland Park amenities are described as being within a short walk. The combination of two-unit configuration, substantial interior area, basement utility space, and courtyard creates a clearly defined residential income property profile.
The property is located in Ashland Park at 110-112 S Hanover Ave in Lexington, Kentucky. Chevy Chase shops, local restaurants, parks, and other Ashland Park amenities are described as being within a short walk. The combination of two-unit configuration, substantial interior area, basement utility space, and courtyard creates a clearly defined residential income property profile.
Key Highlights
- 2,580‑square‑foot brick duplex built in 1920
- Each unit has two bedrooms and one full bathroom
- Hardwood floors and original built‑ins in both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,434
Cap Rate
2.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$428,680
$428.7K
Cap Rate 7%
$306,200
$306.2K
Cap Rate 9%
$238,156
$238.2K
Market Conditions
NOI Build-Up for 2,580 SF
Gross rent
$32.2K $12.48/SF
− Vacancy
−$1.6K −$0.61/SF
EGI
$30.6K $11.87/SF
− OpEx
−$9.2K −$3.56/SF
NOI
$21.4K $8.31/SF
Area
Lexington, KY
Vacancy
4.90%
Lease Rate
$12.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$428,680
Cap Rate 7%
$306,200
Cap Rate 9%
$238,156
Alternative Uses
Best Use
Multifamily LT 5
$306.2K
$267.9K – $357.2K
NOI $21,434 @ 7.0% cap · market cap 2.96%
Second Best
Apartment 5plus
$277.8K
$243.1K – $324.1K
NOI $19,445 @ 7.0% cap · market cap 2.68%
Theoretical Best
Office A
$537.5K
$470.4K – $627.1K
NOI $37,628 @ 7.0% cap · market cap 5.19%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,713
Businesses Nearby
Explore this area
Business Placement
Demographics for 40502, KY
26,080
Population
14,232
Households
1.8
Avg Household Size
40
Median Age
67%
College-Educated
96%
High-School Grad
7.1 sq mi
ZIP Area
3,673
Density / Sq Mi
$73,939
Median Household Income
$46,197
Median Earnings
$1,068
Median Rent
$483,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer hardwood floors, original built-ins, separate living and dining rooms, and shared lower-level storage.
Where is this duplex located?
The property is located at 110-112 S Hanover Ave Lexington, KY.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 2,580‑square‑foot brick duplex built in 1920; Each unit has two bedrooms and one full bathroom; Hardwood floors and original built‑ins in both units
