Multifamily Property with Unit
For Sale
Contact for pricing
305 Lindenhurst Dr, Lexington, KY 40509
280-unit apartment community has a mix of classic and upgraded units, with ownership improvements completed since 2018.
Property SizeContact for details
Days on Market122
Property Features for 305 Lindenhurst Dr
General Information
Standard status
Active
Property subtype
Multifamily
Additional Details
Multifamily Units
280
Listing Agency:
Colliers - Chicago Downtown, Illinois
Listed By:
Tyler Hague, LEED AP · License #IL 471009171
Source:
Crexi
Added: Apr 11
Changed: Aug 8
Last Checked: Jul 23 at 1:55PM
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 Colliers - Chicago Downtown, Illinois
Investment Insights
Based on property information with market context.
Steeplechase is a 280-unit apartment community in Lexington, Kentucky. The unit mix includes 23 classic-condition units featuring laminate countertops, white or black appliances, tile floors, and original cabinets. The remaining 255 units have various moderate upgrades, including stainless steel appliances, hardwood-style floors, subway tile backsplashes, and modern cabinets. In addition, two units have been upgraded with premium finishes, including quartz countertops.
Recent ownership has invested $2.7 million since 2018 into unit upgrades, amenities, deferred maintenance, and building systems, creating a foundation for continued improvements. The property is described as minutes from the University of Kentucky and Baptist Health.
This offering highlights a clear renovation foundation and a unit finish mix that supports differentiated rent expectations based on the stated upgrade levels and finishes.
Recent ownership has invested $2.7 million since 2018 into unit upgrades, amenities, deferred maintenance, and building systems, creating a foundation for continued improvements. The property is described as minutes from the University of Kentucky and Baptist Health.
This offering highlights a clear renovation foundation and a unit finish mix that supports differentiated rent expectations based on the stated upgrade levels and finishes.
Key Highlights
- 280‑unit apartment community in fast‑growing Lexington, KY, with a mix of classic and moderately upgraded units
- Ownership has invested $2.7 million since 2018 into unit upgrades, amenities, deferred maintenance, and building systems
- 22% rent growth on new leases and 15% on renewals over the last 3 months
Property Analytics
Current Use
Lease Details
280
Residential units
Location Intelligence
Trade Area within ½ mile
1,786
Businesses Nearby
Explore this area
Business Placement
Demographics for 40509, KY
44,572
Population
19,802
Households
2.3
Avg Household Size
36
Median Age
57%
College-Educated
95%
High-School Grad
47.8 sq mi
ZIP Area
932
Density / Sq Mi
$89,429
Median Household Income
$52,489
Median Earnings
$1,317
Median Rent
$338,200
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?
Apartment building - 280-unit apartment community has a mix of classic and upgraded units, with ownership improvements completed since 2018.
Where is this apartment building located?
The property is located at 305 Lindenhurst Dr Lexington, KY.
What are key features of this property?
This property features: 280‑unit apartment community in fast‑growing Lexington, KY, with a mix of classic and moderately upgraded units; Ownership has invested $2.7 million since 2018 into unit upgrades, amenities, deferred maintenance, and building systems; 22% rent growth on new leases and 15% on renewals over the last 3 months
