Faulkner Ave
- Well-maintained homes in great condition, with recent updates throughout
- Every home remodeled or updated 2016–2022: two new roofs in 2018, new HVAC or furnace at two homes, new water heater at one
- Five single-family rentals in Lexington, Kentucky, sold together in one purchase
- 100% leased, with leases ending December 2026 to August 2027
- Tenants pay all utilities, lawn and landscaping
- Single-story brick ranches with 3 to 4 bedrooms; three with detached garages
- Rents below market, with room to grow as leases renew
- Professionally managed
- Strong rental demand in Lexington, home of the University of Kentucky
Property Description
The Lexington Rental Portfolio is five well-maintained single-family rental homes totaling 5,439 square feet in Lexington, Fayette County, Kentucky, all 100% leased: four in north Lexington (40505) and one in southeast Lexington (40517). The portfolio suits single-family rental investors, 1031 exchange buyers and local landlords who want five stabilized rentals in one purchase. The homes are sold together only. The homes are in great condition, with recent updates throughout. Every home was remodeled or updated between 2016 and 2026, including new roofs on two homes in 2018, new garage roofs on two homes in 2021, new HVAC at two homes, new water heaters at three homes, and new paint and carpet at one home in 2026. Every home has a washer and dryer. All five are single-story brick ranches built between 1960 and 1972, with 3 to 4 bedrooms and 975 to 1,226 square feet each, and three have detached garages. Tenants are on 12-month leases ending between December 2026 and August 2027 and pay all utilities, lawn and landscaping. Rents total $7,650 a month, including pet fees, below ownership’s estimated market rent of about $8,452 a month. The homes are professionally managed. Listed by Travis Rose, SVN | Stone Commercial Real Estate, 859.806.1591. Travis sells land, industrial warehouses and investment properties across Central Kentucky. * Please do not visit the properties or contact the tenants. All showings are by appointment through the listing agent. *
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $925,000 |
| No. of Units: | 5 |
| Opportunity Zone: | No |
| Price per unit: | $185,000 |
| Property Website | Click Here |
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