301 Burley Avenue, Lexington, KY 40503
$3,700,000
Property Type:
Residential Income
Bedrooms:
4
Baths:
3
Square Footage:
1,364
Lot Size (sq. ft.):
56,628
Status:
Closed
Current Price:
$3,700,000
List Date:
5/21/2014
Last Modified:
8/26/2025
Overview
Description
Listing Details MLS# 1409655
Status Change Information
- Price Change Timestamp
- 2015-06-25T20:36:29Z
- Status Change Timestamp
- 2015-06-25
- Purchase Contract Date
- 2015-06-24
- Close Date
- 2015-06-25
- Close Price
- 3700000
- Buyer Financing
- Conventional
- Concessions Comments
- none
Address
- County
- Fayette
- Street Number
- 301
- Street Name
- Burley
- Street Suffix
- Avenue
- Street Suffix Modifier
- 343
- State
- KY
- Zip Code
- 40503
- Directions
- From South Broadway turn onto Burley Avenue.Property located on the left hand side.
- Parcel Number
- 38249950
Contract
- Original List Price
- 3900000
- Start Showing Date
- 2014-05-20
- Listing Contract Date
- 2014-05-20
- Listing Agreement
- Exclusive Right To Sell
- Office Exclusive YN
- No
- List Price/Acre
- 2915384.62
- List Price/SqFt
- 2778.59
- Sold Price/Acre
- 2846153.85
- Sold Price/SqFt
- 2712.61
- SP/LP
- 0.98
Tax Legal
- MLS Area Major
- 004 - Fayette County SW
- Subdivision Name
- Lynn Grove
- High School District
- Fayette County - 1
Interior
- Bedrooms Total
- 4
- Bathrooms Total
- 3
- Bathrooms Full
- 3
- Living Area
- 1364
- Bathrooms Half
- 0
Parking Information
- Parking Total
- 56
More Information
Building
- Year Built
- 2013
- Accessibility Features YN
- Yes
Lot
- Lot Size Acres
- 1.3
- Lot Size Square Feet
- 56628.05
- Lot Size Dimensions
- 162 x ?
- Road Frontage Feet
- 380
Utilities
- Cooling YN
- No
- Heating YN
- Yes
Remarks
- Public Remarks
- 22 one year new town homes located just a short walk from the edge of the University Of Kentucky Campus.All of the town homes are expected to be leased starting August 1, 2014.100% occupancy rate in 2013. All are 4 bedroom town homes generating approximately $1,700 per month cash flow ($425 per bedroom). They offer extremely nice affordable housing very close to campus with no need to drive to campus.9% gross return on investment. Appraisal on file.6 street lights located on the property for additional security.Laminate flooring in the kitchen-living room, tile flooring in all baths, all kitchen appliances plus washer-dryer are included.Mold resistant drywall utilized during construction.No for sale sign on property.
Income and Expenses
- Gross Income
- 433700
- Gross Operating Income
- 433700
- Gross Scheduled Income
- 430100
- Insurance Expense
- 10563
- Lawn Services Expense
- 5890
- Less Operating Expenses
- 10903
- Net Operating Income
- 422797
- Other Income
- 3600
- Real Estate Taxes
- 31481
- Trash Expense
- 1254
- Other Services Expense
- 0
Tax & Legal
- Elementary School
- Picadome
- Middle Or Junior School
- Jessie Clark
- High School
- Lafayette
- Tax Rate
- 1.1318
- Zoning Description
- R-4
Association/Community
- Number Of Buildings
- 4
- Number Of Units Total
- 22
Cooling
- None
- Yes
Heating
- Electric
- Yes
Parking Features
- On Site
- Yes
- Paved
- Yes
Possession
- Other
- Yes
Roof
- Shingle
- Yes
Special Listing Conditions
- Standard
- Yes
Documents
- Amendments
- Yes
Property Features
Cooling:
None
Heating:
Electric
Parking Features:
On Site; Paved
Possession:
Other
Roof:
Shingle
Special Listing Conditions:
Standard
Documents:
Amendments
Listing Office:
RE/MAX Creative Realty
Last Updated: August - 26 - 2025
Information deemed reliable but not guaranteed.