Two-Unit Duplex with Shared
For Sale
$110,000
511 E 7th St, Lexington, KY 40505
Compact multifamily property with separate kitchens, full baths, and efficient living areas in each residence.
Property Size640 SF
Price / SF$171.88
Days on Market47
Property Features for 511 E 7th St
General Information
Standard status
Active
Size
640 SF
Property subtype
Multi-Family
Building Details
Year Built
1900
Listing Agency:
Bluegrass Sotheby's International Realty
Listed By:
Elizabeth L Herrington · License #245796
(859) 699-2655
Source:
Meliarealty
Added: Sep 1
Changed: Oct 9
Last Checked: Oct 7 at 3:52PM
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 Bluegrass Sotheby's International Realty
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Investment Insights
Based on property information with market context.
Located at 511 E 7th St, this 640-square-foot duplex contains two independent residences within one structure. Each unit includes one bedroom, one full bathroom, a kitchen, and a combined living area. Tile flooring extends throughout the property, and the building has a metal roof. Constructed in 1900, the layout provides two distinct living spaces in a compact multifamily format.
Parking is shared with 507 E 7th Street, with driveway and rear parking access serving both properties. The duplex is being offered only as part of a combined sale with 507 E 7th St and is not available separately.
Parking is shared with 507 E 7th Street, with driveway and rear parking access serving both properties. The duplex is being offered only as part of a combined sale with 507 E 7th St and is not available separately.
Key Highlights
- Two‑unit duplex with 640 square feet of total building area
- Each unit includes 1 bedroom, 1 full bath, kitchen, and combined living area
- Tile flooring throughout the property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$5,317
Cap Rate
4.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$106,340
$106.3K
Cap Rate 7%
$75,957
$76.0K
Cap Rate 9%
$59,078
$59.1K
Market Conditions
NOI Build-Up for 640 SF
Gross rent
$8.0K $12.48/SF
− Vacancy
−$391 −$0.61/SF
EGI
$7.6K $11.87/SF
− OpEx
−$2.3K −$3.56/SF
NOI
$5.3K $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%
$106,340
Cap Rate 7%
$75,957
Cap Rate 9%
$59,078
Alternative Uses
Best Use
Multifamily LT 5
$76.0K
$66.5K – $88.6K
NOI $5,317 @ 7.0% cap · market cap 4.83%
Second Best
Apartment 5plus
$68.9K
$60.3K – $80.4K
NOI $4,823 @ 7.0% cap · market cap 4.38%
Theoretical Best
Office A
$133.3K
$116.7K – $155.6K
NOI $9,334 @ 7.0% cap · market cap 8.49%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
699
Businesses Nearby
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Business Placement
Demographics for 40505, KY
26,278
Population
12,026
Households
2.2
Avg Household Size
39
Median Age
23%
College-Educated
86%
High-School Grad
8.0 sq mi
ZIP Area
3,285
Density / Sq Mi
$58,922
Median Household Income
$33,517
Median Earnings
$914
Median Rent
$166,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Compact multifamily property with separate kitchens, full baths, and efficient living areas in each residence.
Where is this duplex located?
The property is located at 511 E 7th St Lexington, KY.
What is the asking price?
The asking price for this property is $110,000.
What are key features of this property?
This property features: Two‑unit duplex with 640 square feet of total building area; Each unit includes 1 bedroom, 1 full bath, kitchen, and combined living area; Tile flooring throughout the property
