Sixth Street West Lexington, KY

$3,100,000
Property type:Multifamily

The space

  • Units: 38
  • Year Built: N Broadway 1965 | W. 6th St - 1930

Description

Silvestri Real Estate is pleased to present the exclusive listing of Sixth Street West apartments located in Lexington, Kentucky.​  This mid-century, contemporary apartment community is in downtown Lexington, directly in the path of progress.​ Sixth Street West has the ideal unit mix for downtown with studios, one, and two-bedroom garden style apartment homes.​

Sixth Street West has been well maintained by the owner but is ready for a renovation program.​ Updated units could achieve rent increases around $150/unit/month based on comparable assets.​ There is also an opportunity to RUBS the utilities (breakdown on Property Description page) and charge for laundry.​  With it’s central location to all downtown attractions, this asset could be ideal to operate some units as Airbnb’s (this was not included in the proforma).​

This listing is comprised of one boutique apartment building and two four-unit buildings:

568 N Broadway – 30 units

(15) Studio 1 bath

(15) 1 bed 1 bath

308 W.​ Sixth – 4 units

(2) 1 bed 1 bath

(2) 2 bed 1 bath

312 W.​ Sixth – 4 units

(1) 1 bed 1 bath

(3) 2 bed 1 bath

Sixth Street West is available all cash allowing the new owner the ability to take advantage of the current aggressive debt market.​

Contact the Agent

Ken Silvestri

Owner/Principal Broker
Ken Silvestri  has deep roots in Lexington.  As a youngster in the 1960’s he worked at his grandfather’s fruit stand located in downtown. He is the owner and principal broker at Silvestri Real Estate. Ken began his career in residential real estate in 1990. By 1994, he was recognized as one of the top producing agents in the United States at Re/max International.   In 2000, he transitioned to apartment community brokerage. And that is now his Teams specialty.  Their tagline is ‘Single Focus-Multifamily’.    The team has brokered over 8000 apartment units in Lexington with total lifetime sales near one billion dollars. He and his wife Tammy (of 37 years) own apartments in Lexington and have their offices at Goodwin Square. Ken is a board member of Fayette Alliance. Ken is an avid hiker and photographer capturing landscapes from Patagonia to New Zealand.

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