414 Morrison Avenue
Property Description
This offering includes both sides of the duplex at 414 and 414 1/2 Morrison Avenue. Each unit features two bedrooms and one full bathroom. Both units are currently rented for $625 per month, providing a combined gross monthly income of $1,250. Estimated market rents in the property's current condition are approximately $1,100 to $1,300 per unit, offering significant income-growth potential. The 414 Morrison Avenue unit was updated in 2014, while the 414 1/2 unit has not been updated and offers an opportunity for future improvements and additional value. Neither side has a lease; both tenants currently occupy on a month-to-month basis. This is a solid opportunity for an investor seeking immediate rental income with substantial upside potential near downtown Lexington.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $249,900 |
| No. of Units: | 2 |
| Year Built: | 1958 |
| Lot Size: | 1,581.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $124,950 |
| Property Website | Click Here |
| Number of Bedrooms: | 4 |
| Number of Bathrooms: | 2 |
ID: 3yd-LBARKY-26021218
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