Brick Duplex with Private
For Sale
$725,000
Pending
110-112 S Hanover Avenue, Lexington, KY 40502
MULTI_FAMILY - Lexington, KY
Property Size2,580 SF
Lot Size0.10 Acres
Days on Market10
Property Features for 110-112 S Hanover Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 1, Bedroom 4, Laundry Room, Bedroom 2, Bedroom 3, Bathroom 2
Subdivision
Ashland Park
Elementary school
Cassidy
Middle school
Morton
High school
Henry Clay
Elementary school district
Fayette County - 1
Middle school district
Fayette County - 1
High school district
Fayette County - 1
Directions
East Main Street southeast as it becomes Richmond Road, then turn right onto South Hanover Avenue.
Standard status
Pending
APN
12101700
Size
2,580 SF
Lot size
0.10 Acres
Utilities
Heating system
Natural Gas
Cooling system
Central Air
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Roof type
Shingle
Listing Agency:
Bluegrass Sotheby's International Realty
(859) 268-0099
Listed By:
Jake Wiseman · License #220118
(859) 608-7178
Added: Jul 22
Changed: Jul 27
Last Checked: Jul 31 at 3:06AM
MLS# 26019486
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 classic brick duplex features two separate units, each with hardwood floors, original built-ins, separate living and dining rooms, two bedrooms, and a full bathroom. A shared basement level includes laundry and additional storage, and the property also offers a private brick courtyard.
The building is located in Ashland Park in Lexington, Kentucky, and is described as being within a short stroll of Chevy Chase shops, local restaurants, and parks.
The configuration supports either rental income or owner occupancy with rental generation, with common basement amenities and defined in-unit living spaces for each unit.
The building is located in Ashland Park in Lexington, Kentucky, and is described as being within a short stroll of Chevy Chase shops, local restaurants, and parks.
The configuration supports either rental income or owner occupancy with rental generation, with common basement amenities and defined in-unit living spaces for each unit.
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 | $32.2k | $12.48 |
| − Vacancy | −$1.6k | −$0.61 |
| EGI | $30.6k | $11.87 |
| − OpEx | −$9.2k | −$3.56 |
| NOI | $21.4k | $8.31 |
2,580 SF · lease $12.48/SF/yr · vacancy 4.90% · expense 30.00%
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.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Classic brick duplex with two bedrooms per unit, hardwood floors, and separate living and dining rooms.
Where is this duplex located?
The property is located at 110-112 S Hanover Avenue Lexington, KY.
What is the asking price?
The asking price for this property is $725,000.
