NOT LISTED FOR SALE
8 Beds
6 Baths
3,677 Sq Ft
0.27 Acre Lot

Sale Details

Date Sold: April 14, 2022

Last sale price $411,500 $112 Per Sq Ft

16 Days on Market

Highlights

  • Wood Flooring
  • No HOA
  • Community Storage Space
  • Attic
  • Central Air
  • 4-minute walk to Grimes Park

About This Home

As of April 2022

Location! Rare opportunity to own a stately brick 6-unit purpose-built Apartment Building in Lexington's Historic Grimes Park, a popular uptown neighborhood. Fully occupied, profitable & completely updated. Units feature original hardwood floors, full appliance suites including dishwasher, washer/dryer, stove and microwave. Mechanicals & exterior including roof, siding, central air, windows, plumbing,, water heaters & electrical have all been updated over the past 12 years. Full walkout basement was purpose built as 7th unit, could be future expansion as last used in 2000. Paved off street parking, mail center & secured foyer entrance. Tenants pay their own utilities except water/sewer. Proof of fund & tentative offer must be presented before any showings. Please do not disturb tenants. Seller is a licensed NC Real Estate Agent. All Interior Photos were taken prior to Tenants moving in.

Last Agent to Sell the Property

Lane Young

Express Home Realty License #186677 Listed on: 02/25/2022

Last Buyer's Agent

NONMEMBER NONMEMBER

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Property Details

Home Type

  • Apartment

Est. Annual Taxes

  • $2,238

Year Built

  • Built in 1945

Lot Details

  • 11,761 Sq Ft Lot
  • Sloped Lot

Home Design

  • Brick Exterior Construction
  • Vinyl Siding

Interior Spaces

  • 2-Story Property
  • Washer and Dryer Hookup
  • Attic
  • Basement

Flooring

  • Wood
  • Carpet
  • Tile

Parking

  • 6 Parking Spaces
  • No Garage
  • Driveway
  • Paved Parking

Location

  • City Lot

Utilities

  • Central Air
  • Heat Pump System
  • Electric Water Heater

Listing and Financial Details

  • Legal Lot and Block 007,008 / 00D
  • Assessor Parcel Number 11051000D0007000
  • 1% Total Tax Rate

Community Details

Overview

  • No Home Owners Association
  • 6 Units
  • 4,646 Sq Ft Building
  • Grimes Park Subdivision

Amenities

  • Community Storage Space

Building Details

  • 6 Leased Units
  • Electric Expense $600
  • Insurance Expense $2,500
  • Maintenance Expense $1,200
  • Water Sewer Expense $600
  • New Taxes Expense $2,500
  • Operating Expense $7,400
  • Gross Income $36,000

Property Details

Home Type

Apartment

Est. Annual Taxes

$2,238

Year Built

Built in 1945

Lot Details

0.27 Acres

Listing Details

  • Property Sub Type: Apartment
  • Prop. Type: Residential Income
  • Lot Size Acres: 0.27
  • Lot Size: 0.27
  • Subdivision Name: Grimes Park
  • Directions: From Main Street turn right on 3rd, left onto Hillcrest, building is on the left at the corner of Hege and Hillcrest.
  • Architectural Style: Two Story
  • Year Built: 1945
  • TRIADMLS_TotalHeatedFinishedSqFtRange: 0 - 0
  • TRIADMLS_CityLimitsYN: Yes
  • TRIADMLS_BuiltInformation: Existing
  • Special Features: None

Interior Features

  • Appliances: Electric Water Heater
  • Flooring: Carpet, Tile, Wood
  • TRIADMLS_ApproxSqFtRange: 4100 - 4900
  • Basement YN: Yes
  • TRIADMLS_Storage: Attic, Common Storage Area

Exterior Features

  • Lot Features: City Lot, Sloped
  • Pool Features: None
  • Construction Type: Brick, Vinyl Siding
  • TRIADMLS_PoolYN: No
  • Flood Zone: Not in Flood Zone

Garage/Parking

  • Parking Features: Driveway, Paved, No Garage
  • Total Parking Spaces: 6
  • Garage Description: None

Utilities

  • Sewer: Public Sewer
  • Laundry Features: See Remarks, Washer/Dryer Connection
  • Cooling: Central Air
  • Heating: Heat Pump, Electric
  • Water Source: Public
  • TRIADMLS_HeatingFuel: Electric
  • Water Heater: Electric

Condo/Co-op/Association

  • Association: No

Fee Information

  • Annual Water Sewer Expense: 600

Lot Info

  • Parcel #: 11051000D0007000
  • Zoning: TN
  • TRIADMLS_PlatPage: 57
  • TRIADMLS_PlatBook: 2
  • TRIADMLS_AcresRange: 0 - 0

Green Features

  • TRIADMLS_EnvironmentalHazards: No

Multi Family

  • Number Of Units In Community: 6
  • Number Of Units Total: 6
  • Number Of Units Furnished: None
  • Electric Expense: 600
  • Annual Gross Income: 36000
  • Insurance Expense: 2500
  • Maintenance Expense: 1200
  • Number Of Units Leased: 6
  • Annual Operating Expense: 7400

Tax Info

  • New Taxes Expense: 2500
  • Tax Annual Amount: 2238.14
  • Tax Block: 00D
  • Tax Lot: 007,008
  • Tax Map Number: 051
  • Tax Year: 2021
  • TRIADMLS_TaxRate: 1.31

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Closed on
May 30, 2024
Sold by
Bought by

Purchase Details

Listed on
Feb 25, 2022
Closed on
May 9, 2022
Sold by
Bought by
Seller's Agent
Lane Young
Express Home Realty
Buyer's Agent
NONMEMBER NONMEMBER
Sold Price
$411,500

Purchase Details

Listed on
Feb 25, 2022
Closed on
Apr 7, 2022
Sold by
Bought by
Seller's Agent
Lane Young
Express Home Realty
Buyer's Agent
NONMEMBER NONMEMBER
Sold Price
$411,500

Purchase Details

Closed on
Dec 8, 2017
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$100,000
Interest Rate
3.94%
Mortgage Type
Future Advance Clause Open End Mortgage

Purchase Details

Listed on
Nov 16, 2012
Closed on
Aug 13, 2013
Sold by
Bought by
Seller's Agent
Helen Stubblefield
Berkshire Hathaway HomeServices Carolinas Realty
Buyer's Agent
Lane Young
Express Home Realty
List Price
$85,000
Sold Price
$80,000
Premium/Discount to List
-$5,000
-5.88%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$64,000
Interest Rate
4.48%
Mortgage Type
Future Advance Clause Open End Mortgage

Purchase Details

Closed on
Sep 1, 2009
Sold by
Bought by

Purchase Details

Closed on
Apr 1, 1984
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$550,000 None Listed On Document
-- Sawyer Robert T
-- Peter F Morgan Pllc
$100,000 None Available
$80,000 None Available
-- None Available
$98,500 --
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Previous Owner $245,000
Previous Owner $100,000
Previous Owner $64,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft Prior Sale
04/14/2022 04/14/22 Sold $411,500 +414.4% $112 / Sq Ft
03/14/2022 03/14/22 Pending -- -- --
08/23/2013 08/23/13 Sold $80,000 -5.9% $16 / Sq Ft View Prior Sale
07/22/2013 07/22/13 Pending -- -- --
11/16/2012 11/16/12 For Sale $85,000 -- $17 / Sq Ft
Source: Triad MLS

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $3,876 $298,120 $0 $0
2024 $3,876 $298,120 $0 $0
2023 $3,876 $298,120 $0 $0
2022 $2,221 $170,850 $0 $0
2021 $2,221 $170,850 $0 $0
2020 $2,268 $175,760 $0 $0
2019 $2,302 $175,760 $0 $0
2018 $2,302 $175,760 $0 $0
2017 $2,536 $193,550 $0 $0
2016 $2,536 $193,550 $0 $0
2015 $2,439 $193,550 $0 $0
2014 $1,324 $105,040 $0 $0
Source: Public Records

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Map

Source: Triad MLS

MLS Number: 1059812

Triad MLS
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