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, providing immediate income stability. Current rents are well below market, presenting immediate upside potential for increased cash flow. This investment offers 30 spacious 2-bedroom townhomes spread across four buildings on a 2.95-acre parcel, all fully rented at 100% occupancy. Priced significantly below replacement cost, the property generates stable cash flow with strong upside through potential rent increases. There is also 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