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$ 235,000
Price Dropped by $4K
216 Valley Street Richmond, KY 40475
4 Beds
2 Baths
1,800 SqFt
UPDATED:
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
Listed by Block + Lot Homes
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