101 Melissa Dr Nicholasville, KY 40356
- Residential income homes
- 3,236 SF
Current Use by Public Records
- Residential income homes
Property Details for 101 Melissa Dr
- Property size
- 3,236 SF
- Property type
- Residential income homes
Description
This exceptional investment opportunity presents two well-maintained duplexes located at 101 Melissa Dr, Nicholasville, KY 40356, within easy reach of Lexington. The property boasts a total of 3,236 square feet of net rentable space, currently enjoying 100% occupancy with stable, long-term tenants. Each unit offers three bedrooms, two and a half bathrooms, and an attached one-car garage. Tenants are responsible for their own utilities, simplifying management. The property is classified as a Class B multifamily investment, offering a compelling 7.00% capitalization rate and an asking price of $335,000. This stabilized investment presents a strong cash flow potential, with the possibility of future rent growth. The location, just off Nicholasville Road, provides convenient access to amenities and major thoroughfares. This is a rare opportunity to acquire a turnkey investment property with excellent potential for long-term returns. The property is part of a larger portfolio of twelve buildings available for purchase individually or in bulk. This presents a unique opportunity to acquire a single duplex or to build a larger portfolio. The Lexington MSA provides a strong rental market with room for future rent increases.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Nicholasville
- County
- Jessamine
- State
- Kentucky
- Longitude
- -84.5928
- Latitude
- 37.8743
