Skip To Content

214 E Chestnut Street

Carlisle, KY 40311
  • $900,000
  • STATUS: Active
  • ON SITE: 21 Days
  • MLS #: 24002339
UPDATED: 48 min ago
$900,000
  • 0
    BEDS
  • 0.2
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 8,700
    SQFT
  • $103
    $/SQFT
Neighborhood:
Type:
Commercial
County:

School Ratings & Info

Description

This Charming 12-Unit, 2 Bed- 1 Bath, Apartment Building Offers A Prime Investment Opportunity In The Heart Of A Close-Knit, Smaller Hometown. Impeccably Maintained, The Property Is Fully Occupied, Ensuring A Steady Stream Of Passive Income. Despite Below Market Rents, Current In-Place Cap Rate Is 6.8%. New Tenants (4 of 12 Units) Are Paying $650.00 A Month. This Equates To Almost $95,000 Of Potential Annual Gross Income, And A Proforma Cap Rate Of Over 8%. The Property Currently Has An On-Site Manager Who Is Willing To Stay On. Everything Is Direct Billed, With Tenants Paying Electric. Its Strategic Location In A Community With Strong Bonds And Potential For Growth Makes It An Appealing Asset For Investors Seeking Both Immediate Cash Flow And Future Appreciation. Proximity To Local Schools And Restaurants Adds To It's Family-Friendly Allure.

Monthly Payment Calculator

Lexington-Bluegrass Association of Realtors logo
The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of the Bluegrass REALTORS® Multiple Listing Service. Real estate listings held by IDX Brokerage firms other than The Lane Team | Bluegrass Sotheby's International Realty are marked with the IDX logo and detailed information about them includes the name of the listing IDX Brokers. Information is deemed reliable but is not guaranteed accurate by the MLS or listing broker.
www.laneteamky.com/homes/147402002
Print Image

214 E Chestnut Street Carlisle, KY 40311

  • Price: $900,000
  • Status: Active
  • On Site: 21 Days
  • Updated: 48 min ago
  • MLS #: 24002339
0
Beds
0
Baths
0
½ Baths
0.2
Acres
8,700
SQFT
$103
$/SQFT
Neighborhood:
Downtown
County:
Nicholas
Area:
Nicholas County
Property Description
This Charming 12-Unit, 2 Bed- 1 Bath, Apartment Building Offers A Prime Investment Opportunity In The Heart Of A Close-Knit, Smaller Hometown. Impeccably Maintained, The Property Is Fully Occupied, Ensuring A Steady Stream Of Passive Income. Despite Below Market Rents, Current In-Place Cap Rate Is 6.8%. New Tenants (4 of 12 Units) Are Paying $650.00 A Month. This Equates To Almost $95,000 Of Potential Annual Gross Income, And A Proforma Cap Rate Of Over 8%. The Property Currently Has An On-Site Manager Who Is Willing To Stay On. Everything Is Direct Billed, With Tenants Paying Electric. Its Strategic Location In A Community With Strong Bonds And Potential For Growth Makes It An Appealing Asset For Investors Seeking Both Immediate Cash Flow And Future Appreciation. Proximity To Local Schools And Restaurants Adds To It's Family-Friendly Allure.
Exterior Features

Construction Materials Brick Parking 11 - 20 Spaces Roof Metal Stories Three

Interior Features

Building Square Footage 10209 Ceiling Other Floor Type Fully Carpeted Leasable Square Footage 8700 Sprinklers None

Property Features

Business Type Other Current Zoning R-2 Lease Type Other Possession Close of Escrow Sale Lease Includes Other Sewer Public Sewer Tax Rate 0.8777 Tenant Pays Electricity Terms Other

Bluegrass REALTORS® logo Listing provided courtesy of Emily White of Kassie & Associates: (859) 806-4111 . Listing information © 2024 Bluegrass REALTORS® Multiple Listing Service. All rights reserved.
Lexington-Bluegrass Association of Realtors logo
The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of the Bluegrass REALTORS® Multiple Listing Service. Real estate listings held by IDX Brokerage firms other than The Lane Team | Bluegrass Sotheby's International Realty are marked with the IDX logo and detailed information about them includes the name of the listing IDX Brokers. Information is deemed reliable but is not guaranteed accurate by the MLS or listing broker.
 
https://bt-photos.global.ssl.fastly.net/lexington/1280_boomver_1_24002339-2.jpg https://bt-photos.global.ssl.fastly.net/lexington/1280_boomver_1_24002339-2.jpg https://bt-photos.global.ssl.fastly.net/lexington/1280_boomver_1_24002339-2.jpg
Logo
The Lane Team | Bluegrass Sotheby's International Realty
1999 Richmond Rd., Ste. 400
Lexington KY, 40502