148 - 152 E Fourth Street,Lexington, KY 40508
Lexington, KY 40508
Description
An exceptional opportunity to acquire a turnkey portfolio of two neighboring, fully occupied historic duplexes in the heart of downtown Lexington. Originally built in the late 1800s and thoughtfully restored while preserving their historic character, these award-winning properties offer a total of four spacious 2-bedroom, 1-bath residences featuring tall ceilings, restored hardwood floors, updated kitchens and baths, and convenient off-street parking. The package includes a shared off-street parking lot serving both buildings, adding convenience for residents while enhancing the long-term value and functionality of the portfolio. Fully occupied and meticulously maintained, these neighboring duplexes seamlessly blend timeless architecture with modern updates and dependable income potential in one of Lexington's most desirable and walkable neighborhoods, just steps from downtown restaurants, entertainment, shopping, and local attractions. Ideal for investors seeking a stabilized, income-producing asset, this portfolio also presents an outstanding opportunity for an owner-occupant. Live in one unit while the remaining residences help offset your mortgage, create a multigenerational living arrangement, or capitalize on future rental upside. Whether maintained as a long-term cash-flow investment, repositioned through future rent optimization, or utilized as a premium house hack, the portfolio offers multiple value-creation strategies. Priced well below its 2025 appraised value, this offering provides the potential for immediate equity in addition to dependable cash flow and long-term appreciation. Opportunities to acquire two adjacent, Historic Preservation Award-winning duplexes with a shared parking lot in such a premier downtown location are exceptionally rare. This is a truly one-of-a-kind chance to own a landmark investment in one of Lexington's most sought-after neighborhoods.
Details
| MLS # | 26015659 |
|---|---|
| Listing Type | For Sale |
| Style | Fourplex |
| Sub-Type | Resale |
| Status | Active |
| Year | 1890 |
| Days On Site | 69 |
| Listing Provided By | RE/MAX Elite Lexington | J Corey Griffo |
Features
| Bed(s) | 8 |
|---|---|
| Bath(s) | 4 Total |
| SQ Feet | 4,900 |
| Units | 4 |
| Building(s) | 2 |
| Acreage | 0.29 |
Interior
| Cooling | Central Air |
|---|---|
| Heating | Electric, Heat Pump |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
Parking
| Attached Garage Yes / No | No |
|---|---|
| Parking Features | On Site, Paved |
Area Information
| State | KY |
|---|---|
| County | Fayette |
| City | Lexington |
| Zip Code | 40508 |
| Area | 001 Fayette County NW |
| Subarea | Fayette County NW |
| Community Name | Downtown |
| School District | Fayette County |
| Elementary School | William Wells Brown |
| High School | Frederick Douglass |
| Listing VS Median (in Downtown) | |
Price: $725,000 low | high Med: $225,000 sqft: 4,900 low | high Med: 3,028 $ / sqft: $148 low | high Med: $87 On site: 69 low | high Med: 52 | |
Market Activity 40508
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Learn More About This Property
| State | KY |
|---|---|
| County | Fayette |
| City | Lexington |
| Zip Code | 40508 |
| Area | 001 Fayette County NW |
| Subarea | Fayette County NW |
| Community Name | Downtown |
| School District | Fayette County |
| Elementary School | William Wells Brown |
| High School | Frederick Douglass |
| Listing VS Median (in Downtown) | |
Price: $725,000 low | high Med: $225,000 sqft: 4,900 low | high Med: 3,028 $ / sqft: $148 low | high Med: $87 On site: 69 low | high Med: 52 | |
