19-Unit Cash-Flowing Investment Property | Former Hospital Conversion | Stable Occupancy Located at 202 S College St, this unique 19-unit income-producing property offers strong in-place cash flow and a long history of stable operation. Originally constructed as a hospital and converted to apartments in the 1950s, the property has been under the same ownership since 1996. Financial Overview: Gross Monthly Income: $8,900 Annual Gross: $106,800 Historical Occupancy: ~90% Utilities (owner-paid): approx. $1,500/month Property Features: 19 total units (including 2 full apartments) Remaining units operate in a rooming-house style with shared hallway bathrooms 8 bathrooms (individually lockable for privacy) Central gas boiler heating system Window A/C units included Recent Updates & Condition: New roof (2024) Updated plumbing and electrical New exterior paint Updated windows Well-maintained with no known major structural or mechanical issues Operations: Long-term stabilized asset with consistent tenant demand Shared areas professionally maintained with cleaning schedule in place Parking: Primarily street parking, with 8–10 commonly used spaces nearby Circular drive on-site Investment Highlights: Proven income-producing property with decades of operating history Opportunity to improve rents or reconfigure units Ideal for investors seeking workforce housing or rooming-house model For additional details, please call 859-247-0278 and leave a voicemail if no answer.