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Listed by Lohmiller Real Estate
$ 380,000
Est. payment | /mo
8 Beds
4 Baths
4,800 Sqft Lot
$ 380,000
Est. payment | /mo
8 Beds
4 Baths
4,800 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 647030
Bedrooms 8
Full Baths 4
Lot Size 4,800 Sqft
Property Sub-Type Multi Family
Property Description
Rare 4-Family Investment Opportunity in Covington! This well-maintained 4-unit property offers a strong combination of existing rental income, recent improvements, and significant upside. Each unit features 2 bedrooms and 1 full bath.
One unit has been completely updated and is currently vacant, making it ideal for an owner-occupant or ready to rent for $1,250+ per month. A second unit was rehabbed just a few years ago, remains in great condition, and is currently rented for $900/month. The third unit has a long-term tenant of 15+ years paying $600/month, providing stable rental history. The fourth unit is vacant, has been cleaned out, and is ready for the next investor to complete the rehab and bring it to market rent.
All four units have approximately 1-year-old central air units. The property has been well cared for and is in overall great condition. Tenants pay their own electric, helping keep landlord operating expenses down.
This property has the potential to generate approximately $5,000+ per month in gross rental income, or $60,000+ annually, depending on final rents and lease terms.
Great opportunity for an investor looking to add a cash-flowing multifamily property with additional rental upside, or an owner-occupant looking to live in one unit while generating income from the other three.
One unit has been completely updated and is currently vacant, making it ideal for an owner-occupant or ready to rent for $1,250+ per month. A second unit was rehabbed just a few years ago, remains in great condition, and is currently rented for $900/month. The third unit has a long-term tenant of 15+ years paying $600/month, providing stable rental history. The fourth unit is vacant, has been cleaned out, and is ready for the next investor to complete the rehab and bring it to market rent.
All four units have approximately 1-year-old central air units. The property has been well cared for and is in overall great condition. Tenants pay their own electric, helping keep landlord operating expenses down.
This property has the potential to generate approximately $5,000+ per month in gross rental income, or $60,000+ annually, depending on final rents and lease terms.
Great opportunity for an investor looking to add a cash-flowing multifamily property with additional rental upside, or an owner-occupant looking to live in one unit while generating income from the other three.
Location
State KY
County Kenton
Rooms
Basement Full
Interior
Heating Electric, Forced Air
Cooling Central Air
Exterior
Parking Features On Street
View Y/N Y
View Neighborhood
Roof Type Shingle
Building
Lot Description Corner Lot, Near Public Transit
Story Two
Foundation Block
Sewer Public Sewer
Level or Stories Two
New Construction No
Schools
Elementary Schools Latonia Elementary
Middle Schools Holmes Middle School
High Schools Holmes Senior High
Others
Special Listing Condition Standard