Ashland Park Fourplex Investment
122 S Hanover Avenue, Lexington, KY 40502
MULTI_FAMILY - Lexington, KY
Property size:
3,740 SFLot size:
0.17 AcresPrice / SF:
$213/SF- Added:
- May 11, 2026
- Days on Market:
- 19
- Last Refresh:
- May 29 at 7:06 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 2, Bathroom 3, Bedroom 3, Bedroom 4, Bathroom 2, Bathroom 4, Laundry Room, Bedroom 1, Bathroom 1
- Parking
- 5
- Parking features
- Open
- Standard status
- Active
- APN
- 13325900
- Size
- 3,740 SF
- Lot size
- 0.17 Acres
Utilities
- Heating system
- Electric (Heating), Heat Pump (Heating)
- Cooling system
- Electric, Heat Pump
Building Details
- Year built
- 1930
- Floors in Building
- 2
- Number of units
- 4
- Roof type
- Composition, Rubber
Listing agent Debra Fister (859) 533-6594
Listing office United Real Estate Bluegrass 424 Lewis Hargett Cir Ste 120, Lexington, KY (859) 800-7355
Listing date May 11, 2026
MLS# 26010528
Listing URL
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HighLights
- Prime location: Convenient to Downtown, Chevy Chase, UK, Henry Clay Estate, Kenwick Table, local shops, and restaurants.
- Versatile property: Investment opportunity as a 4‑Plex or potential conversion to individual ownership or single‑family home.
- Multiple parking spaces: Includes a 3‑car garage and driveway space for at least 2 additional cars.
- Individual unit amenities: Each unit features hardwood floors, individual central heat/air, spacious closets, and outside decks/porches.
- Recent updates: Roof and garage doors are 5 years old, 1 HVAC unit replaced 2025, rebuilt front porch roof 2026, exterior painted 2026.
- Income potential: Three units are currently rented month‑to‑month, with potential to increase rental income as units 3 and 4 are under market value.
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
Location Insight
- Map
- Local Demand
- City
- Lexington
- County
- Fayette
- State
- Kentucky
- Longitude
- -84.483931
- Latitude
- 38.033218
Nearby Similar for Sale
FAQs
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: Prime location: Convenient to Downtown, Chevy Chase, UK, Henry Clay Estate, Kenwick Table, local shops, and restaurants.; Versatile property: Investment opportunity as a 4‑Plex or potential conversion to individual ownership or single‑family home.; Multiple parking spaces: Includes a **3‑car garage** and driveway space for at least 2 additional cars.
