9-Unit Renovated Apartment
189 Donabrook Court, Lexington, KY 40517
For Sale
$1,050,000
Residents cover their own water and electric, while open living areas connect each unit’s family room with its kitchen.
Property Size7,560 SF
Price / SF$138.89
Days on Market226
Property Features for 189 Donabrook Court
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listing Agency:
Realty Solutions
Listed By:
Michael X Wang · License KY #208053
(859) 396-0204
Source:
Bluegrasspropertiesgroup
Added: Mar 30
Changed: Nov 7
Last Checked: Nov 9 at 1:42PM
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 Realty Solutions
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Investment Insights
Based on property information with market context.
This 9-unit apartment property was built in 1986 and contains 7,560 square feet. Each residence has two bedrooms and 1.5 bathrooms, with an open plan linking the family room and kitchen. Six units were renovated within the last two years; the other three were renovated within the past five years. Tenants pay for their own water and electricity.
The property is at 189 Donabrook Court in Lexington, Kentucky. The source describes the mall as minutes away and the University of Kentucky as a short drive from the property.
The property is at 189 Donabrook Court in Lexington, Kentucky. The source describes the mall as minutes away and the University of Kentucky as a short drive from the property.
Key Highlights
- Nine apartments, each with 2 bedrooms and 1.5 bathrooms
- 7,560 square feet; built in 1986
- Six units renovated within the last 2 years; the remaining three within the past 5 years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,718
Cap Rate
5.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,154,360
$1.2M
Cap Rate 7%
$824,543
$824.5K
Cap Rate 9%
$641,311
$641.3K
Market Conditions
NOI Build-Up for 7,560 SF
Gross rent
$109.8K $14.52/SF
− Vacancy
−$4.8K −$0.64/SF
EGI
$104.9K $13.88/SF
− OpEx
−$47.2K −$6.25/SF
NOI
$57.7K $7.63/SF
Area
ZIP 40517
Vacancy
4.40%
Lease Rate
$14.52 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,154,360
Cap Rate 7%
$824,543
Cap Rate 9%
$641,311
Alternative Uses
Best Use
Apartment 5plus
$824.5K
$721.5K – $962.0K
NOI $57,718 @ 7.0% cap · market cap 5.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.57M
$1.37M – $1.83M
NOI $109,735 @ 7.0% cap · market cap 10.45%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
9
Residential units
Location Intelligence
Trade Area within ½ mile
958
Businesses Nearby
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Business Placement
Demographics for 40517, KY
37,751
Population
18,306
Households
2.1
Avg Household Size
33
Median Age
41%
College-Educated
92%
High-School Grad
6.2 sq mi
ZIP Area
6,089
Density / Sq Mi
$51,778
Median Household Income
$35,010
Median Earnings
$1,092
Median Rent
$196,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Residents cover their own water and electric, while open living areas connect each unit’s family room with its kitchen.
Where is this apartment building located?
The property is located at 189 Donabrook Court Lexington, KY.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Nine apartments, each with 2 bedrooms and 1.5 bathrooms; 7,560 square feet; built in 1986; Six units renovated within the last 2 years; the remaining three within the past 5 years
