Two-Unit Duplex with Driveway
New
For Sale
$375,000
234-236 Simba Way lot 236, Lexington, KY 40509
Residential, Lexington, KY
Property Size2,576 SF
Lot Size0.08 Acres
Price / SF$145.57
Days on Market6
Property Features for 234-236 Simba Way lot 236
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 4, Bedroom 6, Bathroom 2, Bathroom 1, Laundry Room, Bedroom 2, Bathroom 4, Bedroom 5, Bedroom 1, Bathroom 3
Parking features
Driveway
Interior features
Primary First Floor, Walk-In Closet(s)
Appliances
Dishwasher, Refrigerator, Range, Dishwasher, Refrigerator, Range
Subdivision
Todds Station
Elementary school
Breckinridge
Middle school
Mary E Britton
High school
Henry Clay
Elementary school district
Fayette County - 1
Middle school district
Fayette County - 1
High school district
Fayette County - 1
Directions
Take New Circle to Richmond Road, exit 15. Turn South on Richmond Road. Turn left on Old Todd's Rd. Turn right onto Codell Dr. Turn left onto Simba Way.
Standard status
Active
APN
19999840, 19999830
Size
2,576 SF
Lot size
0.08 Acres
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1999
Floors in Building
2
Flooring type
Carpet, Laminate, Vinyl
Building materials
Vinyl Siding
Roof type
Shingle
Listing Agency:
Keller Williams Bluegrass Realty · Keller Williams Realty
(859) 260-1444
Listed By:
Cheyenne Mcbride
(859) 509-8915
Added: Oct 17
Changed: Oct 18
Last Checked: Oct 22 at 10:06AM
MLS# 26028829
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.
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Investment Insights
Based on property information with market context.
This 1999 duplex contains 2,576 square feet across two three-bedroom, two-bath residences on a 0.08-acre lot. Both units are leased, and each has driveway parking. Unit 234 was renovated within the last two years; the property has no HOA.
The duplex is in southeast Lexington, near Richmond Road and New Circle. Jacobson Park, Richmond Woods Centre, grocery stores, and dining are nearby, with an easy drive to the University of Kentucky and downtown.
The duplex is in southeast Lexington, near Richmond Road and New Circle. Jacobson Park, Richmond Woods Centre, grocery stores, and dining are nearby, with an easy drive to the University of Kentucky and downtown.
Key Highlights
- Two leased units, each with 3 bedrooms and 2 bathrooms
- 2,576 square feet on a 0.08‑acre lot
- Unit 234 renovated within the last two years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,455
Cap Rate
5.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$429,100
$429.1K
Cap Rate 7%
$306,500
$306.5K
Cap Rate 9%
$238,389
$238.4K
Market Conditions
NOI Build-Up for 2,576 SF
Gross rent
$32.1K $12.48/SF
− Vacancy
−$1.5K −$0.58/SF
EGI
$30.7K $11.90/SF
− OpEx
−$9.2K −$3.57/SF
NOI
$21.5K $8.33/SF
Area
ZIP 40509
Vacancy
4.66%
Lease Rate
$12.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$429,100
Cap Rate 7%
$306,500
Cap Rate 9%
$238,389
Alternative Uses
Best Use
Multifamily LT 5
$306.5K
$268.2K – $357.6K
NOI $21,455 @ 7.0% cap · market cap 5.72%
Second Best
Apartment 5plus
$272.6K
$238.5K – $318.0K
NOI $19,079 @ 7.0% cap · market cap 5.09%
Theoretical Best
Office A
$536.7K
$469.6K – $626.2K
NOI $37,569 @ 7.0% cap · market cap 10.02%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,397
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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are leased, with three bedrooms and two bathrooms in each unit.
Where is this duplex located?
The property is located at 234-236 Simba Way lot 236 Lexington, KY.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two leased units, each with 3 bedrooms and 2 bathrooms; 2,576 square feet on a 0.08‑acre lot; Unit 234 renovated within the last two years
