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


OVERVIEW

Property Overview: Offered is a 30-unit townhome portfolio located on a 2.95-acre site in Morganfield, KY. The property consists of four residential buildings, all featuring 2-bedroom townhome units with functional layouts and strong historical occupancy. The asset is currently 100% occupied and offered at a basis below estimated replacement cost, providing downside protection and long-term value. The property’s low-density configuration and spacious site layout support tenant retention, operational efficiency, and long-term ownership appeal. Investment Highlights: 30 total units (all 2BR townhomes) 100% occupied Below replacement cost basis Low-density site with ample spacing Limited competing supply of similar product in the submarket Location Overview: Located at 618 E Waverly St in Morganfield, KY, the property benefits from proximity to essential retail, schools, and regional transportation corridors, including U.S. Hwy 60 and KY-56. These factors support consistent rental demand and ease of access for residents.

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

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.