4-Unit Apartment Building with
305 Sycamore Road, Lexington, KY 40502
For Sale
$790,000
Four one-bedroom apartments include private porches, basement storage, and individual laundry hookups.
Property Size4,032 SF
Price / SF$195.93
Days on Market161
Property Features for 305 Sycamore Road
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Amenities
covered front porch
washer/dryer hookups
private walk-in storage
rear porch entrances
Building Details
Building Size
Year Built
Buildings
Units
Listing Agency:
Turf Town Properties
(859) 268-4663
Listed By:
Steven C Wathen
(859) 621-3313
Source:
Bluegrasspropertiesgroup
Added: Jun 3
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 Turf Town Properties
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Investment Insights
Based on property information with market context.
This 4-unit apartment property, built in 1955, contains 4,032 square feet. Each residence has one bedroom, one bathroom, oversized closets, and a covered front porch. The building’s entry foyer connects to the upper-floor apartments and a full basement, where each unit has washer and dryer hookups and a private walk-in storage area. First-floor residences also have rear porch access, with a covered four-car garage nearby.
The property occupies a corner lot in Ashland Park, two blocks from Henry Clay Estate, and faces landscaped islands along Slashes Road. It is located at 305 Sycamore Road in Lexington, Kentucky, and is zoned R-2.
The property occupies a corner lot in Ashland Park, two blocks from Henry Clay Estate, and faces landscaped islands along Slashes Road. It is located at 305 Sycamore Road in Lexington, Kentucky, and is zoned R-2.
Key Highlights
- Four 1‑bedroom, 1‑bath apartments
- 4,032 square feet; built in 1955
- Covered four‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,498
Cap Rate
4.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$669,960
$670.0K
Cap Rate 7%
$478,543
$478.5K
Cap Rate 9%
$372,200
$372.2K
Market Conditions
NOI Build-Up for 4,032 SF
Gross rent
$50.3K $12.48/SF
− Vacancy
−$2.5K −$0.61/SF
EGI
$47.9K $11.87/SF
− OpEx
−$14.4K −$3.56/SF
NOI
$33.5K $8.31/SF
Area
Lexington, KY
Vacancy
4.90%
Lease Rate
$12.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$669,960
Cap Rate 7%
$478,543
Cap Rate 9%
$372,200
Alternative Uses
Best Use
Multifamily LT 5
$478.5K
$418.7K – $558.3K
NOI $33,498 @ 7.0% cap · market cap 4.24%
Second Best
Apartment 5plus
$434.1K
$379.9K – $506.5K
NOI $30,388 @ 7.0% cap · market cap 3.85%
Theoretical Best
Office A
$840.1K
$735.1K – $980.1K
NOI $58,804 @ 7.0% cap · market cap 7.44%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
920
Businesses Nearby
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Business Placement
Demographics for 40502, KY
26,080
Population
14,232
Households
1.8
Avg Household Size
40
Median Age
67%
College-Educated
96%
High-School Grad
7.1 sq mi
ZIP Area
3,673
Density / Sq Mi
$73,939
Median Household Income
$46,197
Median Earnings
$1,068
Median Rent
$483,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four one-bedroom apartments include private porches, basement storage, and individual laundry hookups.
Where is this quadplex located?
The property is located at 305 Sycamore Road Lexington, KY.
What is the asking price?
The asking price for this property is $790,000.
What are key features of this property?
This property features: Four 1‑bedroom, 1‑bath apartments; 4,032 square feet; built in 1955; Covered four‑car garage
