150 Deweese Street, Lexington, KY 40507
$980,000
Property Type:
Residential Income
Bedrooms:
5
Baths:
5
Square Footage:
2,772
Status:
Closed
Current Price:
$980,000
List Date:
9/11/2025
Last Modified:
3/04/2026
Listing Details MLS# 25500197
Listing Information
- Comp Sale YN
- No
- Property Sub Type
- Apartment
Status Change Information
- Status Change Timestamp
- 2026-02-20
- Purchase Contract Date
- 2026-01-06
- Close Date
- 2026-02-01
- Close Price
- 980000
- Buyer Financing
- Conventional
- Sale Type
- Arms Length Sale
Address
- County
- Fayette
- Street Number
- 150
- Street Name
- Deweese
- Street Suffix
- Street
- State
- KY
- Zip Code
- 40507
- Directions
- East on Short. Left on Defense. or North on Elm Tree Lane, Right on Defense. Latitude: 38.044399 Longitude: -84.491562
- Parcel Number
- 000000000
Contract
- Original List Price
- 1120000
- Start Showing Date
- 2025-09-11
- Listing Contract Date
- 2025-09-03
- Listing Agreement
- Exclusive Right To Sell
- Occupant Type
- Tenant
- Office Exclusive YN
- No
- List Price/SqFt
- 404.04
- Sold Price/SqFt
- 353.54
- SP/LP
- 0.88
Tax Legal
- MLS Area Major
- 003 - Fayette County SE
- Subdivision Name
- Downtown
- High School District
- Fayette County - 1
Interior
- Bedrooms Total
- 5
- Bathrooms Total
- 5
- Bathrooms Full
- 5
- Living Area
- 2772
- Living Area Source
- Public Records
- Bathrooms Half
- 0
More Information
Building
- Year Built
- 2016
- Stories Total
- 2
- Accessibility Features YN
- No
Utilities
- Cooling YN
- No
- Heating YN
- No
Remarks
- Public Remarks
- Downtown Lexington income property producing over $103,000 in 2024 and projected to exceed $111,000 in 2025! Built in 2016, this 5-unit multifamily offers modern construction, low maintenance, and strong rental demand in one of Lexington's most desirable areas. Each unit features a 1-bed/1-bath layout with full kitchen and bath — ideal for long-term tenants or short-term rental flexibility. With a 2024 gross income of $103,455 and 2025 projections approaching $111,000, the property delivers an estimated 7% cap rate at the current list price of $1,120,000. All five units are leased, including one performing well as a short-term rental. Tenants love the walkability to Rupp Arena, the University of Kentucky, downtown restaurants, and major employers. Zoned B-2A, this property provides flexibility for mixed use and continued appreciation in the downtown corridor. A true turn-key investment combining reliable cash flow, location, and long-term growth potential. Highlights: • 5 Units | 5 Beds | 5 Baths | 2,772 SF Total | Built 2016 • 2024 Gross Income: $103,455 | 2025 Projected: $111,455 • Estimated NOI: $78,000+ | 7% Cap Rate at $1.12M • Prime Downtown Location — Walk to Rupp & UK • Zoned B-2A | Low-Maintenance Modern Construction
Showing Information
- Showing Instructions
- Tenant Occupied - Call co Listing Agent
Tax & Legal
- Elementary School
- Harrison
- Middle Or Junior School
- Lexington Trad
- High School
- Lafayette
- Zoning
- Other
- Zoning Description
- B-2A
Association/Community
- Number Of Buildings
- 1
- Number Of Units Total
- 5
Lot
- Lot Size Acres
- 0
- Lot Size Square Feet
- 0
Listing Terms
- 1031 Exchange
- Yes
- Cash
- Yes
- Conventional
- Yes
Possession
- Close Of Escrow
- Yes
Structure Type
- Multi Family
- Yes
Showing Requirements
- Call Listing Agent
- Yes
Property Features
Listing Terms:
1031 Exchange; Cash; Conventional
Possession:
Close Of Escrow
Structure Type:
Multi Family
Showing Requirements:
Call Listing Agent
Listing Office:
eXp Realty, LLC
Last Updated: March - 04 - 2026
Information deemed reliable but not guaranteed.