328 Summit StreetRichmond, KY 40475

Description

Exceptional investment opportunity directly adjacent to Eastern Kentucky University! 324 & 328 Summit Street offer 9 rental units across two buildings, currently generating $9,700 per month / $116,400 annually. The front building consists of 4 units, including a 6-bedroom, 5-bath residence and three 1-bedroom, 1-bath apartments. The back building consists of 5 units, including one 2-bedroom, 2-bath apartment and four 1-bedroom, 1-bath apartments. The property also features a common-area laundry room and large basement, along with individual electric water heaters and three new HVAC systems in the 328 building. Excellent opportunity to acquire a strong income-producing multifamily property in a prime Richmond location. Rent roll and financial statements are available under Documents in Flex.

Property Information

Property type

Residential Income

Sub-type

Apartment

Living area

4,496 Sq Ft

Lot size

0.69 acres

Days on market

46

MLS^® Listing#

26026433

Property Features

Cooling

Central Air

Heating

Forced Air

Parcel number

R006-0015-0021

Schools

Elementary

Kit Carson

Middle

Madison Mid

High

Madison Central

Directions

From Lexington, take I-75 South toward Richmond. Take Exit 90A and merge onto US-25 S/US-421 S toward Richmond. Continue toward downtown Richmond/EKU, then turn onto Summit Street. 324 & 328 Summit Street will be adjacent to the EKU campus.