Listed By
Agency Name: Haven Homes Group
Agency Phone: 859-444-0180
Shown By
Agent Name: Steve Burgess
Agent Phone: (330) 327-3393
Agency Title: Cutler Real Estate
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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.
Property Features
Property Type: Multi Unit - Multiple
Basement: Yes
Basement: Full
Cooling: None
Days on Market: 5
Heating: Forced Air
Lot Size: 0.07 Acres
Roof Type: Membrane
Stories: 3.0
Year Built: 1883
Feature Descriptions
Appliances: Washer/Dryer Stacked, Electric Oven, Microwave, Refrigerator
Exterior: Brick
Fencing: Chain Link
Foundation: Block
Laundry: In Unit
Lot: Corner Lot, Near Public Transit
Lot Dimensions: 30x107
Parcel Number: 999-99-03-066.00
Parking: On Street
Sewer: Public Sewer
Structure Type: Quadruplex
Sub Type: Multi Family
Tenant Pays: Electricity, Gas
Units: 4
Utilities: Cable Available
Water: Public
Window: Wood Frames
Local Schools
High School: Newport High
Middle School: Newport Intermediate
Elementary School: Newport Elementary
School District: Newport Indep
Estimate Your Payment
Estimated Payment
$ 3,221.42 per month $3,047.88 Principal & Interest $0.00 Property Tax (data not provided by mls) $173.54 Homeowner's InsuranceChange Payment Information
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1002-1004 Central Avenue | MLS# 645649
This multi-family property located at 1002-1004 Central Avenue, Newport, KY 41071 is currently listed for sale with an asking price of $595,000. 1002-1004 Central Avenue is located within the Newport Indep school district. Search Newport real estate on www.steveburgessre.com today.