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Listed by Haven Homes Group
$ 595,000
Est. payment /mo
Active
1002-1004 Central Avenue Newport, KY 41071
4,564 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,564 sqft
Price per Sqft $130
MLS Listing ID 645649
Year Built 1883
Lot Size 3,049 Sqft
Property Sub-Type Multi Family
Property Description
Fully leased 4-unit multifamily investment opportunity at 1002,1004 Central Avenue in Newport, KY. Attractive unit mix consisting of two 2BR/1BA apartments and two 3BR/1BA apartments. Current scheduled rents total $6,101/month ($73,212 annually). Two of the four units are occupied by long-term tenants, providing established rental history and stability, with further rent upside that can be captured as leases renew.
Both second-floor units are currently configured as 3BR/1BA apartments and each includes additional unfinished space offering further value-add potential. Subject to applicable approvals, this space could potentially be finished to create either a 4BR/1BA or 3BR/2BA configuration in each unit.
Prominent corner location with convenient access to downtown Cincinnati, Newport, major employment centers, dining, entertainment, and interstate access. Larger two- and three-bedroom floor plans provide a desirable rental mix. Existing leases are in place. Rent roll and additional financial information available upon request.
Both second-floor units are currently configured as 3BR/1BA apartments and each includes additional unfinished space offering further value-add potential. Subject to applicable approvals, this space could potentially be finished to create either a 4BR/1BA or 3BR/2BA configuration in each unit.
Prominent corner location with convenient access to downtown Cincinnati, Newport, major employment centers, dining, entertainment, and interstate access. Larger two- and three-bedroom floor plans provide a desirable rental mix. Existing leases are in place. Rent roll and additional financial information available upon request.
Location
State KY
County Campbell
Rooms
Basement Full
Interior
Heating Forced Air
Cooling None
Laundry In Unit
Exterior
Parking Features On Street
Fence Chain Link
Utilities Available Cable Available
View Y/N N
Roof Type Membrane
Building
Lot Description Corner Lot, Near Public Transit
Story Three Or More
Foundation Block
Sewer Public Sewer
Level or Stories Three Or More
New Construction No
Schools
Elementary Schools Newport Elementary
Middle Schools Newport Intermediate
High Schools Newport High
Others
Special Listing Condition Standard