Property Overview
Turnkey 5-unit multifamily property located in Danville, KY. Each unit is a 1-bedroom / 1-bathroom layout. The property has undergone recent renovations and offers strong in-place income with low owner expenses.
Investment Highlights
Price: $350,000
Cap Rate: ~8.71% (Based on Actuals)
Gross Rent: $3,600/Month ($43,200/Year)
Estimated Expenses: $12,700/Year (Utilities, Insurance, Taxes)
Net Operating Income (NOI): $30,500/Year
Building Size: ±3,872 SF (±1,936 SF per floor)
Lot Size: 0.19 Acres (approx.)
Unit Mix: 5 Units – All 1 Bed / 1 Bath
Electric Meters: 4 (2 units share one meter)
Owner-Paid Utilities: Water, Sewer, Trash, and 1 Electric Meter
Recent Improvements
New dimensional shingle roof
New porcelain countertops
Updated tile work, flooring, and interior/exterior paint
New vinyl siding, gutters, and soffits
Location Highlights
Located in Danville, KY – a stable and growing Central Kentucky rental market
Close proximity to schools, retail, downtown, and major thoroughfares
Strong tenant demand and low vacancy market