199 E Loudon Avenue, Lexington, KY 40505
$908,000
Property Type:
Residential Income
Lot Size (sq. ft.):
20,935
Status:
Closed
Current Price:
$908,000
List Date:
4/08/2025
Last Modified:
3/13/2026
Listing Details MLS# 25006915
Listing Information
- Comp Sale YN
- No
Status Change Information
- Status Change Timestamp
- 2025-07-01
- Purchase Contract Date
- 2025-05-19
- Close Date
- 2025-07-01
- Close Price
- 908000
- Buyer Financing
- Conventional
- Sale Type
- Arms Length Sale
- Concessions Comments
- 9000 to buyers agent
Address
- County
- Fayette
- Street Number
- 199
- Street Direction Prefix
- E
- Street Name
- Loudon
- Street Suffix
- Avenue
- State
- KY
- Zip Code
- 40505
- Directions
- From downtown, North on Limestone, Right on Loudon and property is on left at corner of Maple. From Winchester Rd, Turn onto Loudon, property on right at corner of Maple.
- Parcel Number
- 13503604
Contract
- Original List Price
- 899000
- Start Showing Date
- 2025-04-08
- Listing Contract Date
- 2025-03-29
- Listing Agreement
- Exclusive Right To Sell
- Occupant Type
- Tenant
- Office Exclusive YN
- No
- List Price/Acre
- 1870578.44
- Sold Price/Acre
- 1889305.04
- SP/LP
- 1.01
Tax Legal
- MLS Area Major
- 001 - Fayette County NW
- Subdivision Name
- Downtown
Parking Information
- Parking Total
- 20
More Information
Building
- Year Built
- 1895
Lot
- Lot Size Acres
- 0.4806
- Lot Size Square Feet
- 20935
Remarks
- Public Remarks
- Step into a piece of Lexington's history with the stunning John T. Patterson House, a beautifully restored gem in the vibrant North Lime District. Originally built in 1895, this exquisite property seamlessly blends historic charm with modern updates. Situated on nearly 0.5 acres in the heart of downtown, the property features: One spacious 2-bed, 1-bath apartment - thoughtfully updated for comfort and style Four charming 1-bed, 1-bath apartments - ideal for tenants seeking convenience and character Seven versatile office spaces - perfect for entrepreneurs, creatives, or growing businesses Two first-floor apartments are registered STRs, and furniture conveys - offering immediate income potential The property currently generates $8,625 in monthly rent, with additional opportunities to increase revenue. Extensive renovations in 2015 and 2020 brought this iconic property into the modern age with new HVAC systems, a new roof, updated sewer and electrical systems, and refinished floors - all enhanced by fresh paint throughout.
Showing Information
- Showing Instructions
- Call/Text listing agent for showings. Only one office, common areas, and vacant STRs can be shown. All units will be available to be shown with an accepeted offer.
Tax & Legal
- Tax Rate
- 1.2583
- Zoning Description
- R-3 - PLANNED NBHD RESIDENTIAL
Association/Community
- Number Of Units Total
- 12
Listing Terms
- Cash
- Yes
- Conventional
- Yes
Special Listing Conditions
- Standard
- Yes
Property Features
Listing Terms:
Cash; Conventional
Special Listing Conditions:
Standard
Listing Office:
National Real Estate
Last Updated: March - 13 - 2026
Information deemed reliable but not guaranteed.