Two-Bedroom Townhome
170-180 Heritage Drive Nicholasville, KY 40356
For Sale
$1,028,000
MULTI_FAMILY - Nicholasville, KY
Property Size8,016 SF
Lot Size0.39 Acres
Price / SF$128.24
Days on Market104
Property Features for 170-180 Heritage Drive
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
12
Bathrooms
10
Rooms
Bedroom 3, Bathroom 3, Bathroom 7, Bedroom 5, Bathroom 12, Bathroom 5, Bedroom 6, Bedroom 7, Bathroom 6, Bathroom 11, Bathroom 2, Bathroom 9, Bedroom 4, Bathroom 4, Bedroom 12, Bathroom 10, Bathroom 1, Bedroom 9, Bathroom 8, Bedroom 10, Bathroom 13, Bedroom 11, Bedroom 1, Bedroom 2, Laundry Room, Bedroom 8
Parking
12
Parking features
Open
Standard status
Active
APN
057-40-12-045.00
Size
8,016 SF
Lot size
0.39 Acres
Utilities
Utilities
Cable Available
Heating system
Heat Pump (Heating), Natural Gas
Cooling system
Central Air
Building Details
Year built
1988
Floors in Building
3
Number of units
6
Roof type
Shingle
Listing Agency:
RE/MAX Elite Realty
(859) 209-5036
Listed By:
Terra Jeffries
(859) 312-0058
Added: Apr 17
Changed: Jul 29
Last Checked: Jul 29 at 6:06PM
MLS# 26008271
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 for-sale townhome portfolio consists of six units, each offering two bedrooms and 1.5 bathrooms with a one-car garage. Five of the townhomes include unfinished basements, while the sixth basement is being used as a management office.
The property is situated on the north side of recently upgraded Lake Mingo Park. Public remarks indicate tenants are responsible for all utilities.
Recent exterior and system improvements include new roofs, new siding, new gutters, and new windows, along with several new AC units. The listing notes that floor plans are attached, and the offering is presented as a 1031 exchange opportunity.
The property is situated on the north side of recently upgraded Lake Mingo Park. Public remarks indicate tenants are responsible for all utilities.
Recent exterior and system improvements include new roofs, new siding, new gutters, and new windows, along with several new AC units. The listing notes that floor plans are attached, and the offering is presented as a 1031 exchange opportunity.
Key Highlights
- Six townhomes with 100% occupancy for a rental portfolio
- Each unit features 2 bedrooms and 1.5 bathrooms, plus a one‑car garage
- 5 units include unfinished basements; the 6th basement is used as a management office
Financial Insights For Apartment 5plus
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 | $116.4k | $14.52 |
| − Vacancy | −$5.1k | −$0.64 |
| EGI | $111.3k | $13.88 |
| − OpEx | −$50.1k | −$6.25 |
| NOI | $61.2k | $7.63 |
8,016 SF · lease $14.52/SF/yr · vacancy 4.40% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$874.3K
$765.0K – $1.02M
NOI $61,199 @ 7.0% cap · market cap 5.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.03M
$1.78M – $2.37M
NOI $142,210 @ 7.0% cap · market cap 13.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Six two-bedroom, 1.5-bath townhomes with one-car garages, recently renovated with new exterior components and several new AC units.
Where is this apartment building located?
The property is located at 170-180 Heritage Drive Nicholasville, KY.
What is the asking price?
The asking price for this property is $1,028,000.
What are key features of this property?
This property features: Six townhomes with 100% occupancy for a rental portfolio; Each unit features 2 bedrooms and 1.5 bathrooms, plus a one‑car garage; 5 units include unfinished basements; the 6th basement is used as a management office
