Rare investment opportunity in a prime Lexington location! This 4-unit apartment complex is ideally situated next to Central Baptist Hospital and just over a mile from the University of Kentucky, offering strong rental demand and excellent convenience. Each of the four units features 2 bedrooms and 2 full baths, with spacious living rooms that provide comfortable gathering space and an ample kitchen with plenty of cabinet storage, making each unit highly desirable for tenants. All units are located on the third floor of a professional office building, offering added privacy and a unique mixed-use setting. The property includes a common laundry area with coin-operated machines, as well as both elevator and stair access for ease of entry. Tenants will also appreciate the onsite paved parking lot, a valuable amenity in this highly sought-after area. With updated interiors, generous living spaces, and a fantastic location, this property is perfect for investors looking to expand their portfolio with a low-maintenance, income-producing asset. **This is only the 4 condos on the top floor, this is not for the entire building **
Multi-familyProperty Type
1985Year Built
0.69 acresLot Size
$189Price/Sq.Ft.
Listed by Jon Bentley• Keller Williams Commonwealth
As the MLS and public records start to fill up, we'll list the details here.
Public record
Public record
Zoning
Permits
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Style
Multi-Family (2-4 Unit)
County
Fayette County
APN
10028140, 10028150, 10028160, 10028170
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Last updated by owner on Jun 30, 2025.
P-1
Professional Office Zone
The intent of this zone is to provide for offices and related professional uses. Retail sales are prohibited, except where directly related to office functions. Consideration should be given to the relationship of this zone to the surrounding land uses, the established built context, and the adequacy of the street system to serve the anticipated traffic needs. This zone should be established in accordance with the Goals, Objectives, Policies, and Development Criteria of the Comprehensive Plan.
Permitted uses
Include but are not limited to:
Community / recreation center
Bank
Day care facility
Hospital / medical center
Mixed use building
Office
Medical office
Research & development
Library
Veterinary clinic
Jan 5, 2026 • Final
Hvac residential replacement
HVAC
Dec 30, 2025 • Final
Hvac multi-family replacement
HVAC
Permit history is from public records and may be incomplete or inaccurate. Redfin and its agents make no representations about the property condition or permit status. Buyers should independently verify all information.
This home ranks in the top 16% for direct sun exposure in Lexington. There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
10.4 hrs
5.5 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 1640 Nicholasville Rd
We cannot show automated home-value estimates for this home.
Nearby homes have recently sold between $494,900 and $1,025,000.
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $495K to $1.0M.