159 Miller Dr - Apartments FOR SALE


Richmond, KY 40475
$1,899,900 USD
859-800-0245
159 Miller Dr, Richmond, KY for Sale
$1,899,900 USD
Apartments - FOR SALE
1/5
null | Request Cap Rate

159 Miller Dr
Richmond, KY 40475


OVERVIEW

Exceptional 18-unit investment opportunity in the heart of Richmond. This well-maintained apartment complex consists of two buildings (side by side) and offers strong cash flow, no deferred maintenance, and easy management thanks to extensive recent upgrades throughout the property. Major improvements include a new dimensional shingle roof (2023), LVP flooring throughout most units, updated electrical and plumbing, fresh interior paint in all units, multiple HVAC unit replacements, and decking boards replaced and painted for long-term durability. The parking lot has been recently seal-coated and striped, providing clean, organized parking for tenants and guests. The property is uniquely positioned in a private, rural-feeling setting while being just minutes from downtown Richmond, offering tenants the best of both privacy and convenience. With a solid rent roll, modernized systems, and minimal ongoing capital needs, this is a turnkey, stabilized asset ideal for both seasoned investors and those looking to scale their portfolio in a growing market. Property owner is the licensed selling agent.

FOR SALE DETAILS

PRICE

$1,899,900 USD

PRICE/SF

$348 USD /SF

# OF UNITS

18

PRICE/UNIT

$105,550

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1987

PARKING SPACES

10

LAND DETAILS

LAND ACRES

1.08 AC

LAND SF

47,045 SF

ZONING

-

APN/PARCEL ID

054A-0004-0034,054A-0004-0035

ASK ABOUT THIS PROPERTY

Ross CumminsPhillips Realty Services, LLCMore Info
859-800-0245

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Ross CumminsPhillips Realty Services, LLCMore Info
859-800-0245

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