2024 Cornerstone Drive, Lexington, KY 40509

$1,550,000
Property Type: Residential Income Bedrooms: 24 Baths: 17 Square Footage: 12,544 Lot Size (sq. ft.): 24,033 Status: Closed
Current Price: $1,550,000 List Date: 5/12/2025 Last Modified: 10/13/2026

Overview

Description

12-Unit Multifamily Investment Opportunity | Lexington, KY 40509 Presented by The Gibson Company The Gibson Company is excited to bring to market a 12-unit multifamily investment opportunity located in the highly desirable 40509 zip code of Lexington, KY. This portfolio consists of one (1) 8-plex and one (1) 4-plex, both constructed in the year 2000. The 8-plex consists of seven (7) 2-bedroom, 1-bath units and one (1) 2-bedroom, 1.5-bath unit. Each unit is approximately 900 square feet and includes a small private deck for tenant enjoyment. The 4-plex includes four (4) large 2-bedroom, 2-bath units, each approximately 1,100 square feet. These units do not include decks but offer spacious interior layouts. Both buildings have had roofs replaced within the last 5-8 years. Approximately 75% of all HVAC units have also been replaced, offering reduced near-term capital expenditure exposure for investors. The property is located minutes from New Circle Road, I-75, Hamburg Pav ...

Listing Details MLS# 25009873

Listing Information

Property Sub Type
Apartment
Comp Sale YN
No

Status Change Information

StatusChangeDate
2025-10-14
Contract Acceptance Date
2025-05-14
Sold Date
2025-07-16
Buyer Financing
Cash
Sale Type
Arms Length Sale

Address

County
Fayette
Street #
2024
Street
Cornerstone
St Suffix
Drive
State/Province
KY
Zip Code
40509
Directions
Turn onto fortune drive off liberty
Parcel Number
38019630

Contract

Original List Price
1310000
Start Showing Date
2025-05-12
Listing Price
1310000
Listing Agreement
Exclusive Right To Sell
Occupant Type
Tenant
Office Exclusive YN
No
List Price/Acre
2381818.18
List Price/SqFt
104.43
Sold Price/Acre
2818181.82
Sold Price/SqFt
123.57
SP/LP
1.18

Tax Legal

Area
002 - Fayette County NE
Subdivision/Condo
Eastwood

Interior

Total # Bedrooms
24
Total Bathrooms
17
Baths - Full
12
Bathrooms Half
5
Living Area
12544

More Information

Parking Information

Parking Total
20

Building

Year Built
2000
Stories Total
2

Lot

Lot Size Acres
0.552
Lot Size Square Feet
24033

Utilities

Cooling YN
Yes
Heating YN
Yes
Propane
Yes

Remarks

Public Remarks
12-Unit Multifamily Investment Opportunity | Lexington, KY 40509 Presented by The Gibson Company The Gibson Company is excited to bring to market a 12-unit multifamily investment opportunity located in the highly desirable 40509 zip code of Lexington, KY. This portfolio consists of one (1) 8-plex and one (1) 4-plex, both constructed in the year 2000. The 8-plex consists of seven (7) 2-bedroom, 1-bath units and one (1) 2-bedroom, 1.5-bath unit. Each unit is approximately 900 square feet and includes a small private deck for tenant enjoyment. The 4-plex includes four (4) large 2-bedroom, 2-bath units, each approximately 1,100 square feet. These units do not include decks but offer spacious interior layouts. Both buildings have had roofs replaced within the last 5-8 years. Approximately 75% of all HVAC units have also been replaced, offering reduced near-term capital expenditure exposure for investors. The property is located minutes from New Circle Road, I-75, Hamburg Pavilion, and Man O' War Boulevard — providing strong connectivity to retail, restaurants, and employment centers. Property Highlights: 12 Total Units: One 8-Plex + One 4-Pl

Building and Property Details

Building Expansion Potential YN
No
Lot Expansion Potential YN
No
Age of Roof
5

Showing Information

Showing Instructions
All units are full. Showings not permitted until accepted contract

Tax & Legal

Zoning Description
r-4

Association/Community

Number Of Buildings
2
Number Of Units Total
12

Property Features

Utilities: Electricity Connected; Natural Gas Available; Sewer Connected; Water Connected; Electricity Connected; Natural Gas Available; Sewer Connected; Water Connected Cooling: Heat Pump Listing Terms: Cash; Conventional Possession: Close Of Escrow Roof: Shingle Structure Type: Multi Family; Quadruplex Documents: Sellers Disclosure Of Property Condition
Listing Office: The Gibson Company
Last Updated: October - 13 - 2026
Information deemed reliable but not guaranteed.