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Lexington, KY 40508
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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.
Commission
Commission Offered
This opportunity in Lexington, KY is offered at an asking price of $240,750 as shown on the card. After repair value (ARV) is shown as about $250,000, which implies a gross spread of roughly 3.7 percent off ARV if you use the list price and this ARV as-is. Treat that as a first-pass screen, not a comp confirmation. The property is described with 4 bedrooms, 4 bathrooms. Tour or pull rent rolls if the asset is occupied so your rehab scope and lease assumptions match the real layout. Rehab is tagged as “cosmetic.” In practice, you should open walls and verify every major system, because tags rarely capture the full story on a wholesale lead. Occupancy is noted as “Occupied.” If anyone is in place, schedule access carefully, align showings with local rules, and underwrite for rental income or a formal vacancy path before you take assignment. The list is marked Multifamily—use that to frame exit math (flip spread, fee for wholesale, or long-term DSCR if the plan is a rental hold). The structure is represented around 2005; older vintages can hide lead, cast iron, and foundation work—budget a contingency. Verified seller contact is available on the listing, which speeds diligence once you are serious. Verify ARV, repair scope, access, and title with your own people before you rely on any line in this write-up. Nothing here is a guarantee of value or condition.
Timeline
Posted · Updated
Strategy: Multifamily
