Lexington Multifamily Buyer
Sell Your Commercial Property In Lexington, KY
Skyline Capital Investments buys commercial apartment buildings of 5+ units in Lexington and across Fayette County — listed or off-market, stabilized or value-add. Get clear feedback on your deal, typically within 48 hours.
- Clear feedback on your deal, typically within 48 hours
- 5 to 100+ units, stabilized or distressed, listed or off-market
- Owners, agents, and brokers welcome — every conversation is confidential
We buy:Tired landlordsEstate & trust sales1031 exchangesDeferred maintenanceHigh vacancyPartnership splits
Areas We Target: Chevy Chase · Hamburg · Georgetown · Nicholasville — Fayette County, KY
Market Snapshot
Renter Demand In Lexington
Lexington, Kentucky is a university-and-health-system rental market with a large renter base and a steady employer anchor in Toyota's Georgetown plant. Renters hold 46.2% of occupied homes, and the University of Kentucky enrolled 38,719 students in fall 2025 (preliminary).
If you plan to sell commercial property in Lexington, KY, the numbers below are what buyers underwrite. Median gross rent is $1,164 a month, and 25.9% of housing units sit in buildings of five or more units, per ACS 2020-2024.
Owners who want to sell multifamily property in Lexington should also price in the 2026 Fayette County tax rate of $1.2598 per $100 in the Full Service district, which works out to $25,196 a year on a $2,000,000 assessed value.
This profile covers who rents in Lexington, HUD FY2027 rents, apartment stock, Fayette County property taxes, Kentucky landlord rules and what they mean for an owner weighing a sale. Every figure is dated and linked to its official source.
University of Kentucky health system
UK reported preliminary fall 2025 enrollment of 38,719 students, up from 35,951. Its Albert B. Chandler Hospital is a 569-bed acute care hospital, per UK sources.Toyota Georgetown plant
Toyota's Georgetown plant employs approximately 10,000 team members and announced an $800 million investment on March 23, 2026, per the state's New Kentucky Home newsroom.Young-professional renter base
Per ACS 2020-2024, Lexington has a median age of 35.3, with 15.0% of residents aged 25 to 34, and renters hold 46.2% of occupied homes.Our Buy Box
What We Buy In Lexington
Asset Type
Multifamily, 5+ Units
Apartment buildings and income-producing residential.
Size
5 – 100+ Units
Sweet spot: 15–25 units.
Condition
Stabilized To Distressed
Value-add, mismanaged, and high-vacancy properties welcome.
Deal Types
Listed Or Off-Market
Direct-to-owner, pocket listings, portfolios.
Local Market Data
Lexington Apartment Market
Figures gathered October 2026 from public market data.
Who rents in Lexington
Renters occupy 46.2% of occupied homes in Lexington. That is 64,594 of 139,715 occupied housing units, per ACS 2020-2024 table B25003. Lexington is a merged city-county, so the Census place and Fayette County report identical totals. Owners occupy the other 75,121 homes.
Median household income in Lexington is $69,479 in ACS 2020-2024. Lexington median age is 35.3, and 48,473 residents, or 15.0%, are aged 25 to 34 per table B01001.
The University of Kentucky reported preliminary fall 2025 enrollment of 38,719 students, up from 35,951, according to the university. Many of those students, and the staff and faculty who serve them, rent. That keeps demand steady near campus and across the wider Lexington rental market.
Rents and affordability in Lexington
Median gross rent in Lexington is $1,164 a month in ACS 2020-2024. Annualized, that is $13,968, or 20.1% of the $69,479 median household income.
47.0% of Lexington renter households pay 30% or more of income on rent, and 24.1% pay 50% or more, per table B25070.
HUD sets FY2027 fair market rents for the Lexington-Fayette, KY MSA, effective October 1, 2026, per HUD fair market rent data.
| Unit size | HUD FY2027 FMR, monthly |
|---|---|
| Efficiency | $986 |
| One bedroom | $1,205 |
| Two bedroom | $1,416 |
| Three bedroom | $1,948 |
| Four bedroom | $2,108 |
The two-bedroom FY2027 rent of $1,416 sits $252 above the $1,164 ACS median gross rent for all rental units.
Apartment stock in Lexington
Lexington has 38,517 homes in buildings of five or more units, or 25.9% of its 148,959 housing units, per ACS 2020-2024 table B25024.
Buildings with 20 or more units hold 14,680 homes, or 9.9% of the total. Buildings with 10 to 19 units are the largest group at 13,348 homes. Buildings with 5 to 9 units hold 10,489, those with 20 to 49 units hold 6,650, and 50-plus-unit buildings hold 8,030.
44.9% of Lexington housing was built before 1980, and the median year built is 1984, per table B25034. Older mid-size buildings often carry deferred capital needs, which buyers weigh when you sell commercial real estate in Lexington, KY.
Rental vacancy in Lexington is 3.8% in ACS 2020-2024 profile DP04.
The HUD June 2024 market analysis covers the six-county Lexington metro, not the city alone. It reports a 6.7% apartment vacancy and a $1,141 average rent in the second quarter of 2024.
The same HUD analysis counts 1,700 rental units under construction as of June 1, 2024. It also counts about 930 rental units permitted in the 12 months ending May 2024.
Property taxes in Fayette County
Fayette County's 2026 real property rate is $1.2598 per $100 of assessed value in the Full Service district, per the Fayette County PVA.
That rate stacks $0.1030 state, $0.7970 school and $0.0750 general services. It adds $0.0243 health department, $0.0600 Lextran, $0.1730 full service and $0.0225 park fund, plus small extension and soil lines. District 2, without the full-service line, totals $1.0868.
Fayette County assesses real property at 100% of fair cash value as of January 1, per the PVA assessments page. Worked example, assuming a $2,000,000 assessed value in the Full Service district:
- $2,000,000 x 1.2598 / 100 = $25,196 a year.
- State share: $2,060. School share: $15,940. All other local lines: $7,196.
- The same value in District 2 at $1.0868 per $100 is $21,736 a year.
Properties in the Downtown Lexington Management District add $0.10 per $100, which is $2,000 on $2,000,000. Properties certified abandoned and blighted add $1.00 per $100.
Appeals run on a short clock. In 2026 the PVA conference deadline was May 18. The Local Board of Tax Appeals filing deadline was May 20 under KRS 133.045, per the PVA.
Kentucky also taxes the grantor on a deed at $0.50 per $500 of value under KRS 142.050. On a $2,000,000 deed, $2,000,000 / 500 x $0.50 equals $2,000. Owners who sell commercial property in Lexington, KY should net that against proceeds.
Landlord rules for Lexington owners
Lexington operates under the Uniform Residential Landlord and Tenant Act. KRS 383.500 authorizes urban-county governments to adopt it, and a Legislative Research Commission estimate names Lexington/Fayette among adopters.
KRS 383.580 sets the security deposit rules and contains no dollar cap. Landlords must hold deposits in a separate bank account and give tenants written damage listings at move-in and move-out.
A landlord who skips the separate account or the two listings cannot keep any part of the deposit. If a refund is due and the tenant does not respond within 60 days of notice, the landlord may keep it.
Under KRS 383.660, a landlord may terminate for unpaid rent if the tenant fails to pay within seven days of written notice. Other material breaches need at least 14 days of written notice.
Lexington adopts the 2021 International Property Maintenance Code in Section 12-1 of its code. Provision PM-111.4 lets an owner who uses a management company file a form with the Division of Code Enforcement naming an agent for notices. Anyone selling commercial property in Lexington should expect buyers to check deposit accounts and code compliance.
What it means for an apartment owner in Lexington
Lexington owners hold rental stock backed by steady demand. UK enrolled 38,719 students in fall 2025, and its Albert B. Chandler Hospital is a 569-bed acute care hospital.
Toyota's Georgetown plant employs approximately 10,000 team members, and Toyota announced an $800 million investment there on March 23, 2026, per the state newsroom.
Lexington's mix of mid-size older buildings and steady campus and employer demand rewards owners who know their numbers. When you sell commercial real estate in Lexington, KY, buyers will test rent against HUD's $1,416 two-bedroom figure and the $25,196 tax example.
Skyline Capital Investments buys apartment buildings with five or more units. If you plan to sell your apartment building in Lexington, start with the cap rate calculator to test value against the tax bill above.
Owners who want to sell commercial property in Lexington, KY can request an offer through our sell my apartment building page. For zoning and supply context, read our Lexington zoning and apartment supply analysis.
Local Knowledge
What Shapes A Lexington Offer
More about selling in Kentucky →Investing in Lexington? See apartment syndications in Lexington →
- Lexington is a merged city-county. The Census place and Fayette County return identical ACS 2020-2024 figures, so every Census number here describes the same area.
- Tax figures use the 2026 Fayette County PVA rates for the Full Service district. Your parcel's tax district and assessed value decide the actual bill.
- HUD apartment vacancy of 6.7% and the $1,141 average rent cover the six-county Lexington metro in the second quarter of 2024, not the city alone.
- ACS rental vacancy of 3.8% is a five-year estimate from table DP04, and the HUD FY2027 fair market rents took effect October 1, 2026.
Seller Guides
Lexington Seller Situations
Learn More
Taxes & Rules For Lexington Property
The Kentucky rules that shape any deal in Lexington: what a sale costs in tax, how buildings are taxed, what landlords must follow, and how to defer gains.
Lexington Seller FAQ
What is the property tax rate on an apartment building in Lexington?
Fayette County's 2026 real property rate is $1.2598 per $100 of assessed value in Lexington's Full Service tax district, per the Fayette County PVA. On a $2,000,000 assessed value that is $25,196 a year. District 2, without the full-service line, totals $1.0868 per $100, or $21,736. Your parcel's tax district decides which rate applies.
How do I appeal my commercial property assessment in Fayette County?
Fayette County assesses real property at 100% of fair cash value as of January 1. In 2026 the PVA conference deadline was May 18, and the Local Board of Tax Appeals filing deadline through the County Clerk was May 20 under KRS 133.045. Bring comparable sales, appraisals and photos to the conference.
How much transfer tax will I pay when I sell commercial property in Lexington, KY?
Kentucky taxes the grantor on a deed at $0.50 for each $500 of value or fraction thereof under KRS 142.050. On a $2,000,000 sale that is $2,000,000 divided by 500, times $0.50, or $2,000. The county clerk computes the tax when the deed is recorded, so the amount comes out of seller proceeds at closing.
What deposit rules apply when I sell commercial real estate in Lexington, KY?
KRS 383.580 contains no dollar cap on residential security deposits. It requires a separate bank account, plus written damage listings at move-in and move-out. A landlord who skips the account or the listings cannot keep any part of the deposit. Lexington/Fayette is named as a Uniform Residential Landlord and Tenant Act adopter.
How long must a tenant have to pay before I can terminate a Lexington lease for nonpayment?
Under KRS 383.660, a landlord may terminate if rent stays unpaid seven days after written notice of nonpayment and intent to terminate. For other material breaches, the notice must give at least 14 days. Follow the notice wording the statute requires, keep proof of delivery, and consult counsel before filing any eviction action in Fayette County court.
Who buys multifamily property in Lexington, and what do buyers look at?
Owners who sell multifamily property in Lexington find buyers look at occupancy, rent against HUD's FY2027 two-bedroom rent of $1,416, building age and the tax bill. Lexington has 38,517 homes in buildings of five or more units, and 44.9% of housing predates 1980. Skyline Capital Investments buys apartment buildings with five or more units.
What if my Lexington building has vacancies or deferred maintenance?
That is often where we add the most value. We buy buildings that need renovation, new management, or lease-up, and we account for that in our offer.
How does a sale to you work in Fayette County?
Send the address, unit count, and any financials. We give feedback, then a written letter of intent if it fits, followed by diligence and a closing date that works for you.
Who buys occupied rental property in Lexington?
We do. Skyline Capital Investments is a commercial real estate buyer of 5+ unit multifamily, and we buy apartment buildings with tenants in place, including properties with below-market rents.
How fast can I sell my apartment building in Lexington?
Most owners get clear feedback within 48 hours of sending the address, unit count, and a rent roll. Closing is typically set around your timeline, including extra time for a 1031 exchange.
Submit A Deal
Get An Offer Review In Lexington
A few details are enough to start. We respond to every Lexington submission, including off-market and pocket listings.
