1409 Fontaine Rd, Lexington, KY 40502

Property Description

Located on one of Chevy Chase's most established streets, this stone-façade fourplex offers spacious units, extensive capital improvements, and room for future value-add. Since 2020, nearly every major building system has been updated, including a new shingle roof (2020), flat roof (2025), updated electrical with five separately metered panels, individual central HVAC systems for all four units, PEX plumbing updates, and capped chimneys. Exterior improvements include rebuilt composite front balconies, new upper-level stairs, and a resurfaced parking lot with underground downspout drainage directed away from the foundation. The building consists of three spacious 1BR/1BA units of approximately 1,150 SF each and one 2BR/1BA unit of approximately 1,850 SF. Hardwood floors run throughout, and one of the 1BR units features a fully renovated kitchen and bathroom. The remaining three units offer an opportunity for interior updates, with all three 1BR floor plans providing space for a potential second bedroom. The unfinished lower level includes four private storage rooms and shared laundry facilities. All four units are leased, with lease expirations ranging from April through June 2027. The property offers 5,670 SF above grade, an additional 1,890 SF unfinished basement, and sits on a 0.22-acre R-3 zoned lot.