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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 26010673

Bedrooms 4

Full Baths 2

Lot Size 9,613 Sqft

Acres 0.22

Property Sub-Type Duplex

Property Description

214 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 central heat and air, washer/dryer hookups, vinyl windows approximately six years old, and carpet and vinyl flooring throughout. Recent improvements include a new roof in 2023, new eaves in 2026, and driveway repairs completed in 2026. Currently 100% occupied, the property generates approximately $12,600 in annual gross rental income with below-market rents, offering future upside potential for investors. With low operating expenses and an estimated NOI of approximately $7,481 annually, 214 Valley Street presents a strong opportunity to acquire a stabilized multifamily asset in a high-demand Richmond location. 214 Valley Street and adjacent 216 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 Electric, Forced Air

Cooling Central Air

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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214 Valley Street Richmond, KY 40475