1 W Southern Ave - Apartments FOR SALE


Covington, KY 41015
$1,025,000 USD
859-609-3736
1 W Southern Ave, Covington, KY for Sale
$1,025,000 USD
Apartments - FOR SALE
1/6
null | 6.88% Cap Rate

1 W Southern Ave
Covington, KY 41015


HIGHLIGHTS

  • Corner mixed-use asset at Ritte's Corner, the historic commercial heart of Latonia
  • Twelve-unit assemblage totaling 10,252 SF of gross building area (9,630 SF of unit area on the current rent roll) across adjoining storefronts
  • In-place occupancy of 91.7% as of September 3, 2026
  • Recent capital already invested: flooring, HVAC, plumbing, electrical, and bathroom updates visible in renovated interiors.

OVERVIEW

The property has been well maintained, with the roof, plumbing, and electrical systems reported to be in good condition, helping reduce the need for major immediate capital expenditures. The two storefronts are occupied by long-term tenants, providing additional stability and diversification beyond the residential units. With 10 residential units plus 2 commercial spaces, this property offers investors the opportunity to acquire an established income-producing asset with multiple avenues for increasing value. The property is well suited for an investor looking for current cash flow, a long-term hold, or additional upside through professional management and rental optimization.

FOR SALE DETAILS

PRICE

$1,025,000 USD

PRICE/SF

$100 USD /SF

# OF UNITS

12

PRICE/UNIT

$85,417

CAP RATE

6.88%

% LEASED

92%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Byrd Building

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1908

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.09 AC

LAND SF

3,920 SF

ZONING

Historic Mixed Use

APN/PARCEL ID

056-14-10-009.00

ASK ABOUT THIS PROPERTY

Nathan NeumannNeumann BrothersMore Info
859-609-3736

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Nathan NeumannNeumann BrothersMore Info
859-609-3736

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.