508 & 506 Platt Drive, Nicholasville, KY 40356
MULTI_FAMILY - Nicholasville, KY
- Added:
- Jun 22, 2026
- Days on Market:
- 5
- Last Refresh:
- Jun 26 at 2:06 pm
Property Features for 508 & 506 Platt Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 3
- Rooms
- Bathroom 2, Bathroom 3, Bathroom 1, Bedroom 2, Bedroom 1, Bedroom 3, Bedroom 4, Bathroom 4, Laundry Room
- Parking
- 2
- Parking features
- Open
- Standard status
- Active
- APN
- 057-30-13-001.00 and 057-30-13-002.00
- Size
- 3,192 SF
- Lot size
- 0.16 Acres
Utilities
- Heating system
- Electric (Heating), Heat Pump (Heating)
- Cooling system
- Electric
Building Details
- Year built
- 2002
- Floors in Building
- 2
- Number of units
- 2
- Roof type
- Shingle
Listing agent Shevawn Akers License #275356 (859) 536-1575
Listing office Firefly Realty & Investments 1301 Alpharetta Court, Lexington, KY (859) 536-1575
Listing date Jun 22, 2026
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.
HighLights
- Two adjoining townhomes with deeded separate units that share a roof and a fence
- Heating includes heat pump and electric; cooling is electric
- Year built: 2002; shingle roof
- Rental structure: beginning July 1, both tenants pay $1,200/month; tenant in 508 Platt plans to move out in September
- Updates within last 10 years: Trex deck boards (2025), new luxury vinyl flooring (2015 in 506; 2018 in 508)
- Replacements: shared roof, water heaters, and 506 HVAC replaced in 2018; 508 HVAC replaced in 2017
Overview
The properties are located at 508 and 506 Platt Drive in Nicholasville, Kentucky. The seller indicates that beginning July 1, both tenants will be paying $1,200 per month. The tenant in 508 Platt is planning to move out in September, creating an opportunity to re-lease that side at current market levels or to occupy that unit while 506 continues generating income.
The tenant in 506 has been in place for approximately 8–10 years and would like to stay, which may support operational continuity for an owner-operator or investor. Showings require 48 hours’ notice, and the property is being sold as-is, with inspections welcome.
Local Financial Insights For Multifamily LT 5
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 | $40.6k | $12.72 |
| − Vacancy | −$1.7k | −$0.53 |
| EGI | $38.9k | $12.19 |
| − OpEx | −$11.7k | −$3.66 |
| NOI | $27.2k | $8.53 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Nicholasville
- County
- Jessamine
- State
- Kentucky
- Longitude
- -84.559155
- Latitude
- 37.901496
