Rare Lexington Duplex Portfolio - 16 Duplexes / 32 Units

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.SVN | Stone Commercial Real Estate is pleased to present the exclusive offering of a sixteen-duplex, thirty-two-unit workforce housing portfolio in south Lexington, Kentucky, backed by a stellar rental history — thirteen of the sixteen duplexes sitting contiguously along Centre Parkway. This is a rare opportunity to acquire true portfolio scale in a duplex format — a product type that almost always trades one building at a time — at a price under retail. Recent arms-length duplex sales in the 40517 submarket have transacted between $135,000 and $141,750 per unit. A buyer here acquires all sixteen duplexes below that range, while retaining the option to sell them off individually over time. Constructed between 1968 and 1978, the portfolio consists of twenty-two two-bedroom units, six three-bedroom/1.5-bath units, two three-bedroom/two-bath units, and two four-bedroom units. The portfolio is currently 100% occupied. Ownership has operated these assets with unusual discipline. Every building carries replacement windows, and roofs are two to eight years old. HVAC systems are in good working order, with air handlers located on the main floor rather than in crawl spaces. Units are deliberately finished without dishwashers or garbage disposals, and without carpet — ceramic tile in kitchens, baths, and hallways, laminate in living areas and bedrooms — decisions that materially reduce turnover cost and ongoing service calls. Three units have been fully renovated, and ownership has maintained a renovate-on-turn practice for years. The expense profile is exceptional for vintage product of this era. Every unit is individually metered for electric, water, and sewer; tenants pay all of their own utilities and are responsible for lawncare and snow removal. Sixteen of the thirty-two units are leased to Section 8 voucher holders, providing a government-backed and historically stable income base. The portfolio is offered free and clear of debt, allowing a buyer to structure financing entirely on their own terms. Lexington's housing fundamentals are as tight as any market in the Commonwealth. The Kentucky Housing Corporation estimates the city needs 22,549 additional housing units today, a figure projected to exceed 30,000 by 2030. That shortage is structural: Lexington-Fayette established the nation's first Urban Service Boundary in 1958, permanently constraining developable land. With median home prices having roughly doubled over the past decade to approximately $322,000, an increasing share of households is being pushed into — and kept in — the rental market. South Lexington has absorbed 184 units over the trailing twelve months and remains 95% occupied at an average rate of $1,308 per unit across 39 properties comprising 8,204 units (Yardi; reflects properties of 50 units and above, as comparable third-party data is not published for duplex product).