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Updated 12 Hours Ago

Highlights

  • Pet Friendly
  • Professional management
  • Ample parking
  • Convenient on-site laundry
  • Children's play area
  • Spacious 1, 2, 3 bedroom apartments
  • Improving common areas

Location

733 Hill Rise Ct, Lexington, KY 40504, USA
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Management

Lexington Villas

Property Overview

Preakness Apartments offers professional management, ample parking, convenient on-site laundry, a children’s play area, and spacious 1, 2, and 3 bedroom apartments, with improving common areas adding to its appeal. It earns strong marks for value, amenities, and location, while its photos, outdoor spaces, and proximity to public transportation and a top-rated high school add convenience and visibility for renters.

This summary uses Zumper’s proprietary data. “Zumper Expert Ratings,” “Things you’ll love,” and “Great for” are based on our internal analyses of market trends and renter insights.

Zumper Expert Rating

8.5
Very Good
With a solid 8.5 out of 10 overall, Preakness Apartments is a great option for renters. While some aspects, like Quality, might not be as distinguished as other properties nearby, Preakness Apartments has a number of attractive features—namely its Price— so you can be assured your rent will come with a high standard of living.

Things you’ll love

  • High school nearby
  • Less expensive
  • Images Available

Great for

  • Pet owners

Floor plans

1/11 bed1 bath600 sqft$750 /mo
2/12 bed1 bath750 sqft$995 /mo
3/13 bed1 bath1,000 sqft$1,150 /mo

Let's explore this property.

Amenities for Preakness Apartments

Apartment Amenities

Air ConditioningCarpet
Vinyl Flooring

Building

Cats OKDogs OK

Grounds

Outdoor SpacePlayground
Units, floor plans, amenities, dimensions, details, availability, and prices may be approximate and subject to change. Please contact a community representative for more information.

Policies and fees

Applicants

Applicants

One-time.

Contact Property

REQUIRED FEES

Security Deposit

One-time. Refundable.

Contact Property

Dog Policy

Allowed
Limit1
Breed restrictionsYes

2 Pet Max- $30.00 monthly pet rent per pet. Non refundable pet deposit. 25lbs or less $300.00 per pet and 25lbs or more $600.00 per pet. Max pet limit 100lbs.

Cat Policy

Allowed
Limit1

Questions about this property’s policies and fees?

Building details

Property details

Units225

About Preakness Apartments

HomeApartments in Lexington Preakness Apartments

Welcome to The Preakness Apartments, now under new ownership and professional management with an exciting new vision for the community. More than $3 million is being invested into renovating apartments, improving common areas, upgrading the grounds, and creating a cleaner, more comfortable place to call home. We currently offer spacious 1, 2, and 3 bedroom apartments with options for a variety of household sizes and needs. Residents can enjoy a large soccer field, a children's play area, convenient on-site laundry, ample parking, and open community space. Apartment homes are being refreshed and upgraded as part of the property's major rehabilitation program. New ownership and management are focused on responsive service, better maintenance, and long-term improvements throughout the community. Come see the transformation at The Preakness Apartments and discover a community that is moving forward. Contact us today to learn about availability, pricing, and upcoming move-in opportunities.!


Zumper Expert Rating

Our expert rating is based on a weighted average score of property attributes that renters care about most: price, amenities, location, quality, and trust.
8.5
/10
Very Good
With a solid 8.5 out of 10 overall, Preakness Apartments is a great option for renters. While some aspects, like Quality, might not be as distinguished as other properties nearby, Preakness Apartments has a number of attractive features—namely its Price— so you can be assured your rent will come with a high standard of living.
How we rated Preakness Apartments
Price·10A score that weighs the cost and location of the property, which we calculate by comparing rent prices of recent units to the median price of nearby rentals, adjusting for overall quality and features.
Preakness Apartments offers an excellent balance between price and value. It's priced competitively for its amenities, location, and other key features. Compared to the median price per bedroom in the area, this property is less than, or about the same as, nearby rentals, so residents can expect great value without too many compromises on their desired standard of living.
Amenities·9A score based on the amenities offered at this property compared to other rentals in the area. We consider the quantity, quality, and popularity of features both on site and within the units.
Preakness Apartments goes above and beyond to provide sought-after conveniences and desirable perks, including pets allowed. Renters looking for popular or luxurious features will find them here—and for that reason, Preakness Apartments receives one of the highest amenities scores.
Location·9A score based on proximity and ease of access to shops, restaurants, schools, and public transportation while considering the desirability of the area.
Preakness Apartments is exceptional when it comes to location and conveniences. Communication with management or leasing staff is usually quick and easy and they often use advanced scheduling and communication tools to streamline the process. The location of this property offers easy access to popular points of interest in the area and options for getting around.
Quality·6A score based on what makes the property stand out, such as luxury features, unique offerings, age of the building, and our ability to verify the accuracy of these details.
While Preakness Apartments does not have many hallmark characteristics to highlight, it has some qualities and features that will resonate with a broad range of renters.
Trustworthiness·7A score based on the accuracy, completeness, recency, and usefulness of the information provided by this property, so you can trust that what you see is what you get.
Preakness Apartments provides some information about the features available in the community and its apartments, making it a reliable option for prospective renters. Renters should ask additional questions about amenities and non-negotiable items they are looking for.

Preakness Apartments is great for:

Pet owners

  • Outdoor spaces are available at this property

Property highlights

We compared every listing in the surrounding area to determine which amenities are most common. If a building lacks an amenity that most others in the area have, it is a con. If a building has an amenity most others in the area do not, it is a pro. Similarly, price, schools, and size are calculated relative to the size, price, and distance to schools of the other properties nearby.

How Preakness Apartments compares to other nearby properties.

Positives

High school nearby
There is a high school 0.5 miles away
Less expensive
The 2-bedrooms are cheaper than other similar listings nearby
Less expensive
The 1-bedrooms are cheaper than other similar listings nearby
Images Available
There are at least 10 photos of this property
Outdoor space
Easy access to the outdoors

Considerations

Greater distance from grade schools
The nearest elementary school is farther than 0.8 miles away

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Rent trends in Lexington

1-bedroom apartments here are priced 25% lower than 1-bedrooms in Lexington.

If you decide to upgrade your space, you can expect 2-bedrooms at Preakness Apartments to be 23% less than the average for similarly sized apartments in Lexington.

3-bedroom apartments at Preakness Apartments cost about 36% less than the average rent price for 3-bedroom apartments in Lexington.

Median rents as of Oct 24 2026.
Lexington
A table of studio rental data trends in Lexington
MonthMedian Rent
November 2024$916
December 2024$934
January 2025$925
February 2025$904
March 2025$865
April 2025$774
May 2025$788
June 2025$880
July 2025$979
August 2025$1,056
September 2025$1,025
October 2025$875
November 2025$887
December 2025$947
January 2026$879
February 2026$921
March 2026$885
April 2026$1,002
May 2026$977
June 2026$983
July 2026$1,001
August 2026$1,126
September 2026$1,182
October 2026$973

Affordability calculator

Can I afford to live at 733 Hill Rise Ct?

Bedrooms

Rent-to-income ratio

30%

Slide to adjust the percentage of your monthly income you are willing to spend on rent.
The general rule of thumb is to spend around 30% or less of your income on rent.
Recommended income

$30,000/yr

With your selected rent-to-income ratio, you'd ideally want to make $30,000 annually to afford this 1-bedroom monthly rent price of $750.
For more information on rent affordability, visit our rent calculator.

Schools near Preakness Apartments

James Lane Allen Elementary School

1901 appomattox rd

lexington, KY, 40504

PK, K-5Public
B-

Fayette Pre-School

465 springhill dr

lexington, KY, 40503

PKPublic

Fayette County Preschool

165 springhill dr

lexington, KY, 40503

PKPublic

Community Action Council The Prep Academy BCTC Child Development Center

164 opportunity way

lexington, KY, 40511

PKPublic

Booker T. Washington Elementary School

707 howard st

lexington, KY, 40508

PK, K-5Public
C+
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Neighborhood

NEIGHBORHOOD VIBE
Peaceful and quiet
Noise-canceling headphones not required in this mostly noise free area.

Getting around Lexington near 733 Hill Rise Ct

Walking

6/10
Some shops and stores are within a few minutes.

Driving

8/10
Commuting is easy with multiple accessible routes and plenty of parking.

Cycling

4/10
This is semi-bikeable, but you’ll need another way of getting around.

Transit

3/10
There are a few mass transit options within the area.

Points of interest for 733 Hill Rise Ct, Lexington

Groceries

7/10
Wide variety of groceries within a short drive, including some within walking distance

Shopping

5/10
Variety of shops within a short drive

Cafes

6/10
Variety of cafés within a short drive

Restaurants

7/10
Wide variety of restaurants within a short drive, including some within walking distance

Primary schools

3/10
At least one elementary school within a 30-minute walk

High schools

5/10
At least one high school within a 20-minute walk

Parks

6/10
Moderate amount of park space nearby

Nightlife

7/10
Wide variety of bars within a short drive, including some within walking distance

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