Rare Downtown Multi-Family with Upside

222 Campsie Place Lexington, KY 40508

222 Campsie Place, Lexington, KY, 40508
222 Campsie Place, Lexington, KY, 40508
FOR SALE
Property Type:
MultiFamily Apartments
Amount:
$455,000
Last Verified:
Nov 21, 2020

Highlights

  • PRICE REDUCED! Presented at $455,000
  • Owner has recently replaced AC
  • One owner since ‘99, well cared for
  • Superior location in downtown Lexington in developing area
  • Current under market rents leave the next owner with plenty of upside as units turn
  • Opportunity to increase other income with laundry or parking
  • Located in a Kentucky Opportunity Zone

Description

SVN Stone Commercial Real Estate is pleased to present this 7-unit low rise multi-family investment opportunity in developing downtown Lexington. Cozy 222 Campsie Place neighbors The Living Arts and Science Center in a beautiful area featuring walkability to downtown and nearby universities. The property sits just over one mile from Rupp Arena and other downtown attractions. In an area where population growth is outpacing housing supply - this is your opportunity to purchase a multi-family asset that is going to grow with the Bluegrass!

Lexington, Kentucky has been rated as one of America's premier cities by some of the most noted and revered industry standard-bearers, such as Forbes magazine, the U.S. Census Bureau, Cognetics consulting group, Dun & Bradstreet, Ladies Home Journal, and Places Rated Almanac - just to name a few. Most people think of rolling countryside with stone fences, great basketball action, horse farms, Thoroughbred racing at Keeneland, a diverse economy, and outstanding schools, colleges and universities. Our community ranks high in quality of life factors, such as health care, public safety, educational attainment, and quality family living. The area also measures high among the best places for business location, creativity, entrepreneurial growth, and career relocation. Residents of competing cities view Lexington as a beautiful place, with great schools, an innovative health care system, a strong economy, and mountains of potential.

Building Size: 6118.0sq ft
Lot Size: 0.14 acres

Map of 222 Campsie Place, Lexington, KY, 40508

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.