618 E Waverly St - Apartments FOR SALE


Morganfield, KY 42437
$1,790,000 USD
270-991-9093
618 E Waverly St, Morganfield, KY for Sale
$1,790,000 USD
Apartments - FOR SALE
1/4
null | 8.1% Cap Rate

618 E Waverly St
Morganfield, KY 42437


HIGHLIGHTS

  • Priced well below replacement cost
  • Below market rents with upside potential
  • Stable cash flow with room to increase income
  • 30 2-bedroom townhomes across 4 buildings
  • Located on a large 2.95-acre lot
  • Expansion opportunity – space to add another building

OVERVIEW

Property Overview: This is a rare opportunity to acquire a 30-unit townhome portfolio situated on a large 2.95-acre lot, priced well below replacement cost. The property consists of four residential buildings with spacious layouts, offering strong rental appeal. All units are 2-bedroom townhomes and the property is currently 100% occupied. There is an excellent opportunity to add more units with room for expansion on the oversized lot. Demand for well-located, large rental units in this area remains strong, enhancing the long-term value of this asset. Location Benefits: 618 E Waverly St is located in Morganfield, KY — a quiet and established community with convenient access to daily essentials. Nearby retailers and services include: Walmart Supercenter (3 min drive) IGA Grocery Store (2 min drive) CVS Pharmacy Multiple schools, parks, and local restaurants Easy access to U.S. Hwy 60 and KY-56

FOR SALE DETAILS

PRICE

$1,790,000 USD

PRICE/SF

$72 USD /SF

# OF UNITS

30

PRICE/UNIT

$59,667

CAP RATE

8.1%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Maple Valley Townhomes

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1972

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.95 AC

LAND SF

128,502 SF

ZONING

-

APN/PARCEL ID

M3-33-10

ASK ABOUT THIS PROPERTY

Gerri BowersStar Property ManagementMore Info
270-991-9093

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Gerri BowersStar Property ManagementMore Info
270-991-9093

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