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Barry Turner

barry@laketimeky.com +1(606) 875-5988

$ 235,000

4 Beds

2 Baths

1,800 SqFt

Save

$ 235,000

Save

4 Beds

2 Baths

1,800 SqFt

Key Details

Property Type Multi-Family

Sub Type Duplex

Listing Status Active

Purchase Type For Sale

Square Footage 1,800 sqft

Price per Sqft $130

Subdivision Ramsey Addition

MLS Listing ID 26010674

Bedrooms 4

Full Baths 2

Lot Size 10,500 Sqft

Acres 0.24

Property Sub-Type Duplex

Property Description

216 Valley Street offers the opportunity to acquire a fully occupied, income-producing, value-add duplex in the heart of Richmond, Kentucky. Located just off the Richmond Bypass near a major retail corridor, the property benefits from strong rental demand and limited multifamily inventory in the area. The property features two 2-bedroom, 1-bath units totaling 4 bedrooms and 2 full baths. Both units include washer/dryer hookups, vinyl windows approximately six years old, LVP flooring throughout, and ceiling cable heat with window A/C units. The upper unit also features an updated kitchen. Recent improvements include a new roof in 2023 and driveway repairs completed in 2026. Currently 100% occupied, the property generates approximately $16,200 in annual gross rental income with rents offering continued investment stability. With low operating expenses and an estimated NOI of approximately $10,039 annually, 216 Valley Street presents a strong opportunity to acquire a stabilized multifamily asset in a high-demand Richmond location. 216 Valley Street and adjacent 214 Valley Street may be purchased together as a multifamily portfolio, with a negotiated portfolio price available for buyers acquiring both properties.

Location

State KY

County Madison

Zoning R-2

Interior

Heating Ceiling, Electric

Cooling Wall Unit(s)

Laundry Electric Dryer Hookup, Main Level, Washer Hookup

Exterior

Parking Features On Site, Paved

Utilities Available Electricity Connected, Sewer Connected, Water Connected

View Y/N N

Handicap Access No

Private Pool No

Schools

Elementary Schools Daniel Boone

Middle Schools Michael Caudill

High Schools Madison Central

Imagine MLS / Bluegrass Association of REALTORS (LBAR)

Listed by Block + Lot Homes

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(606) 875-5988

barry@laketimeky.com

44 Office Park Dr, Somerset, KY 42501, USA

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216 Valley Street Richmond, KY 40475