742 North Broadway, Lexington, KY 40508, USA

4-Unit Multifamily with Existing Income and Rent Upside

742 N Broadway in Lexington consists of four shotgun-style units, each configured as a 1 bed / 1 bath with a kitchen and living room. All units are separately metered for utilities, creating a clean setup for long-term ownership and expense control.

Current rents are $450 and $500 on month-to-month agreements, with the remaining units leased at $600 through April 2026 and $650 through January 2027. Tenants pay their own utilities, with the exception of one tenant who reimburses the owner monthly. With two tenants already month-to-month, investors may have the opportunity to adjust rents over time depending on their strategy.

Recent improvements include a roof replacement in 2023, most plumbing updated to PEX, and updated water heaters with the oldest approximately three years old and the newest replaced last month. Each unit is equipped with gas wall heaters and window AC units. The property also offers rear parking with two rows of three spaces.