Two-Unit Duplex
For Sale
$258,000
Pending
725 Terrace View Dr, Lexington, KY 40504
The corner-lot property includes two-bedroom residences occupied by long-term tenants.
Property Size1,538 SF
Days on Market52
Property Features for 725 Terrace View Dr
General Information
Standard status
Pending
Size
1,538 SF
Property subtype
Multifamily
Zoning
R-3
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Amenities
Power
Water
Sewer
Natural Gas
Building Details
Year Built
1965
Listing Agency:
Schrader Commercial Properties, LLC
Listed By:
James Schrader · License #KY 41930
(859) 288-5008
Source:
Kcrea.resimplifi
Added: Sep 11
Changed: Oct 25
Last Checked: Oct 30 at 10:34AM
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 Schrader Commercial Properties, LLC
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Investment Insights
Based on property information with market context.
Built in 1965, this 1,538-square-foot duplex contains two separate two-bedroom residences within one residential income property. The building sits on a corner lot and is described as well maintained, with long-term tenants in place. R-3 zoning supports the property’s established duplex configuration.
Located at 725 Terrace View Dr in Lexington, the property is positioned just off Versailles Road. The two-unit layout, existing tenant occupancy, and residential zoning provide a straightforward profile for evaluating a small multifamily asset.
Located at 725 Terrace View Dr in Lexington, the property is positioned just off Versailles Road. The two-unit layout, existing tenant occupancy, and residential zoning provide a straightforward profile for evaluating a small multifamily asset.
Key Highlights
- 1,538 SF duplex with two separate units
- Each unit includes 2 bedrooms
- Long‑term tenants are in place
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,778
Cap Rate
4.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$255,560
$255.6K
Cap Rate 7%
$182,543
$182.5K
Cap Rate 9%
$141,978
$142.0K
Market Conditions
NOI Build-Up for 1,538 SF
Gross rent
$19.2K $12.48/SF
− Vacancy
−$941 −$0.61/SF
EGI
$18.3K $11.87/SF
− OpEx
−$5.5K −$3.56/SF
NOI
$12.8K $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%
$255,560
Cap Rate 7%
$182,543
Cap Rate 9%
$141,978
Alternative Uses
Best Use
Multifamily LT 5
$182.5K
$159.7K – $213.0K
NOI $12,778 @ 7.0% cap · market cap 4.95%
Second Best
Apartment 5plus
$165.6K
$144.9K – $193.2K
NOI $11,591 @ 7.0% cap · market cap 4.49%
Theoretical Best
Office A
$320.4K
$280.4K – $373.9K
NOI $22,431 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
318
Businesses Nearby
Explore this area
Business Placement
Demographics for 40504, KY
26,042
Population
13,175
Households
2
Avg Household Size
34
Median Age
32%
College-Educated
84%
High-School Grad
6.2 sq mi
ZIP Area
4,200
Density / Sq Mi
$43,015
Median Household Income
$29,195
Median Earnings
$888
Median Rent
$209,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - The corner-lot property includes two-bedroom residences occupied by long-term tenants.
Where is this duplex located?
The property is located at 725 Terrace View Dr Lexington, KY.
What is the asking price?
The asking price for this property is $258,000.
What are key features of this property?
This property features: 1,538 SF duplex with two separate units; Each unit includes 2 bedrooms; Long‑term tenants are in place
