16-Unit Multifamily Opportunity in Fayette County

For Sale

400-450 Dabney Drive, Lexington, KY 40509

This Lexington property for sale is located at 400-450 Dabney Drive. The current listed sale price for 16-Unit Multifamily Opportunity in Fayette County is $1,950,000. 16-Unit Multifamily Opportunity in Fayette County is situated on a lot that is 1.68 acre in size.

Contacts

broker
Rachel Ridd

SVN | Stone Commercial Real Estate

Property Details

  • Property Type Multi-Family
  • Property Size 16,960 SF
  • Units 16
  • Lot Size 1.68 Acre
  • Property Tenancy Multi-Tenant
  • Year Built 1999
  • Date Updated Apr 17, 2025
Lexington, Kentucky has been rated as one of America's premier cities by some of the most noted and revered industry standard-bearers, such as Forbes magazine, the U.S. Census Bureau, Cognetics consulting group, Dun & Bradstreet, Ladies Home Journal, and Places Rated Almanac - just to name a few. Most people think of rolling countryside with stone fences, great basketball action, horse farms, Thoroughbred racing at Keeneland, a diverse economy, and outstanding schools, colleges and universities. Our community ranks high in quality of life factors, such as health care, public safety, educational attainment, and quality family living. The area also measures high among the best places for business location, creativity, entrepreneurial growth, and career relocation. Residents of competing cities view Lexington as a beautiful place, with great schools, an innovative health care system, a strong economy, and mountains of potential.SVN | Stone Commercial Real Estate is pleased to present this 16-unit multifamily investment opportunity at 400-450 Dabney Drive, Lexington, KY 40509. Built in 1999, this well-maintained complex features all two-bedroom, two-bath units, offering comfortable living spaces in a convenient Lexington location. Situated in the 40509 ZIP code, this property benefits from strong rental demand and proximity to key amenities, including shopping, dining, and major employers. With easy access to I-75 and New Circle Road, residents enjoy seamless connectivity to downtown Lexington and the surrounding areas. This is an excellent opportunity for investors seeking stable cash flow in a thriving market. For more information or to schedule a tour, contact Justin Ryder, CCIM at 859.447.3285 or Justin.ryder@svn.com or Rachel Ridd at 859.327.7261 or Rachel.ridd@svn.com for more information.
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Highlights

  • Strong Cash Flow: Year 1 NOI - $117,402 at 6.02% Cap
  • $.95/sf with neighboring properties achieving $1.46/sf
  • Capital Improvements: New roofs in 2021
  • 2 Buildings (8,480 SF each)
  • Ample green space (1.68 acres)
  • Modern and spacious 2 bedroom/2 bathroom units
  • Utilities are separately metered
  • Washer and dryer hookups in each unit
  • 1/2 of the hvac systems have been replaced in the last 4 years
  • Built in 1999, gas heat
  • Zoned R-4
  • Prime location with proximity to Hamburg, I-75, and Man O' War Blvd
  • 100% occupancy

Getting around

  • 37/100

    Walk Score ®

  • 28/100

    Transit Score ®

  • 22/100

    Bike Score ®

Powered by Walk Score ®

Location

  • City Lexington, KY
  • Neighborhood Andover
  • Zip Code 40509
  • Market Lexington

Points of Interest

  • Speedway

    0.56 miles

  • Marathon

    0.97 miles

  • Tesla Supercharger

    1.11 miles

  • Kroger

    1.16 miles

  • Shell

    1.26 miles

  • Meijer Gas

    1.28 miles

  • ChargePoint

    1.32 miles

  • Costco Gasoline

    1.88 miles

  • Chevron

    1.90 miles

  • Country Inn & Suites by Radisson, Lexington, KY

    2.81 miles

  • Staff Parking

    3.19 miles

  • Parking Lot E

    4.49 miles

  • Green Lot

    4.55 miles

  • Parking Structure #7

    4.56 miles

  • Common Grounds

    4.62 miles

  • Hardin Properties Parking Lot

    4.66 miles

  • E Lot (Library Parking)

    4.67 miles

  • Blue Lot

    4.71 miles

  • Red Lot

    4.71 miles

  • Courtyard Lexington South/Hamburg Place

    1.15 miles

  • TownePlace Suites

    1.17 miles

  • Residence Inn

    1.26 miles

  • Home2 Suites

    1.29 miles

  • Sleep Inn

    1.31 miles

  • Holiday Inn Lexington - Hamburg

    1.33 miles

  • Homewood Suites

    1.37 miles

  • Homewood Suites by Hilton Lexington-Hamburg

    1.37 miles

  • Hilton Garden Inn

    1.40 miles

  • Hyatt Place Lexington

    1.40 miles

  • Gordon Food Service

    1.05 miles

  • Kroger

    1.08 miles

  • Meijer

    1.19 miles

  • Burlington

    1.32 miles

  • Gordmans

    1.40 miles

  • Marshalls

    1.45 miles

  • Target

    1.50 miles

  • Kohl's

    1.66 miles

  • Garden Ridge

    1.73 miles

  • Walmart Supercenter

    2.48 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker
broker
Rachel Ridd

SVN | Stone Commercial Real Estate

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