Ranch Duplex With Two Laundry
755-757 Terrace View Drive Lexington, KY 40504
755-757 Terrace View Drive, Lexington, KY, 40504
$249,900
Pending
For Sale
$249,900
Pending
MULTI_FAMILY - Lexington, KY
Property Size1,582 SF
Lot Size0.18 Acres
Days on Market16
Property Features for 755-757 Terrace View Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bedroom 1, Laundry Room, Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 2, Bedroom 4
- Standard status
- Pending
- APN
- 16348250
- Size
- 1,582 SF
- Lot size
- 0.18 Acres
Utilities
- Heating system
- Forced Air, Natural Gas
- Cooling system
- Central Air
Building Details
- Year built
- 1965
- Floors in Building
- 1
- Number of units
- 2
Listing Agency
National Real Estate
(859) 300-1415
829 National Ave Ste 200, Lexington, KY
Listed by
Joey Young
(859) 494-6288
Added: Jul 3 Checked: Jul 18 at 5:06 am
MLS# 26016067
Listing URL
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.
Investment Insights
Based on property information with market context.
This ranch duplex contains two separate units, each laid out with a generous living room, a kitchen with a dining area, two bedrooms, and one bathroom, plus a laundry room for each unit. The right-side unit has been updated by the current owners with newer cabinets, counters, and vinyl flooring, and it is served by a central A/C system. The left-side unit includes much of the original hardwood floors exposed, with hardwood reportedly under the vinyl tiles. The property also has several newer windows throughout, along with a roof and gutters that are described as approximately 3 years old.
The duplex is located on a cul-de-sac and backs to a tree line. It is described as being only a few minutes’ drive from downtown, shopping, and restaurants, and it is addressed as 755-757 Terrace View Drive in Lexington, KY 40504 (Fayette County).
For buyers, this setup supports an owner-occupied or investment approach given that both tenants are described as long standing and responsible for their own rents, utilities, and mowing. The seller notes that rents are currently below market value for the area. Individual showings will be available with 48 hours’ notice.
The duplex is located on a cul-de-sac and backs to a tree line. It is described as being only a few minutes’ drive from downtown, shopping, and restaurants, and it is addressed as 755-757 Terrace View Drive in Lexington, KY 40504 (Fayette County).
For buyers, this setup supports an owner-occupied or investment approach given that both tenants are described as long standing and responsible for their own rents, utilities, and mowing. The seller notes that rents are currently below market value for the area. Individual showings will be available with 48 hours’ notice.
Key Highlights
- Ranch duplex with 2 units, each featuring 2 bedrooms, 1 bathroom, and a laundry room
- Right side updated with newer cabinets, counters, and vinyl flooring, plus central A/C
- Left side features original hardwood floors exposed, with hardwood under existing vinyl tiles
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 | $19.7k | $12.48 |
| − Vacancy | −$967 | −$0.61 |
| EGI | $18.8k | $11.87 |
| − OpEx | −$5.6k | −$3.56 |
| NOI | $13.1k | $8.31 |
1,582 SF · lease $12.48/SF/yr · vacancy 4.90% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$187.8K
$164.3K – $219.1K
NOI $13,143 @ 7.0% cap · market cap 5.26%
Second Best
Apartment 5plus
$170.3K
$149.0K – $198.7K
NOI $11,923 @ 7.0% cap · market cap 4.77%
Theoretical Best
Office A
$329.6K
$288.4K – $384.5K
NOI $23,072 @ 7.0% cap · market cap 9.23%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Duplex - Ranch duplex offers two separate units, each with two bedrooms, one bath, and a dedicated laundry room.
Where is this duplex located?
The property is located at 755-757 Terrace View Drive Lexington, KY.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Ranch duplex with 2 units, each featuring 2 bedrooms, 1 bathroom, and a laundry room; Right side updated with newer cabinets, counters, and vinyl flooring, plus central A/C; Left side features original hardwood floors exposed, with hardwood under existing vinyl tiles
