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301 Burley Ave., Lexington, KY 40503
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$4,488,800
Townhouse/Townhome
4 Bedrooms
3 Full Baths
1364 Sq. Ft.
ID# 1304550
On HomeFinder.com 03/12/13
40503 Real Estate Market Info
- Median years in residence
- 8
- Homes Owned
- 72.11%
- Homes Rented
- 25.10%
- Homes Vacant
- 2.79%
Nearby Elementary Schools
Lexington Montessori School
319 S Broadway Park
Picadome Elementary School
1642 Harrodsburg Rd
Scapa At Bluegrass
400 Lafayette Pkwy
Nearby Primary Schools
Fayette Pre-School
701 E Main St
Nearby Middle Schools
Montessori Middle School Of Kentucky
1305 Audubon Ave
Scapa At Bluegrass
400 Lafayette Pkwy
Lexington Day Treatment Center
115 Cisco Rd
Nearby High Schools
Lafayette High School
401 Reed Ln
Southside Technical Center
1800 Harrodsburg Rd
Lexington Day Treatment Center
115 Cisco Rd
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Description
22 Brand new townhomes located just a short walk from the edge of the University Of Kentucky Campus. 11 are completed with an additional 11 to be constructed with expected completion date to be August 1, 2013 12 have been leased starting August 1, 2013. All are 4 bedroom townhomes generating approximately $1,600 per month cash flow per unit for the first year with incremental raises in gross rental cash flows expected on a yearly basis. 100% occupancy rate is expected as interest levels on these townhomes have been and continue to be very high. They offer brand new affordable housing very close to campus with no need to drive to campus. 10% gross return on investment is expected at the end of the 2nd year, 9% Gross return on investment at the end of the first year. Appraisal on file. 6 security cameras, 2 of which have recording capabilities. 6 street lights located on the property for additional security. Mold resistant drywall utilized during construction. No for sale sign on property.
Exterior Details
- Lot Size
- Approximately .0162 Acres, Approximately 704 Square Feet
- Roof
- Shingle Roof
School
- Elementary
- Picadome
- High
- Lafayette
- Junior High
- Jessie Clark
- General
- Fayette County
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