1002-1004 Central Avenue, Newport, KY 41071
- $595,000
- 4,564
- SqFt
- List Price
- $595,000
- MLS#
- 645649
- Status
- ACTIVE
- County
- Campbell
- City
- Newport
- Living Area
- 4,564
- Acres
- 0.07
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.
Additional Information
- Year Built
- 1883
- Cooling
- None
- Heating
- Forced Air
- Roof
- Membrane
- School District
- Newport Indep
- Elementary School
- Newport Elementary
- Middle School
- Newport Intermediate
- High School
- Newport High
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Listing courtesy of Haven Homes Group.