Multi-Family

duplex for sale

4 views

Listed: 02/14/23

399 Gibson Lane, Richmond, KY 40475, USA

Studio Bed:

1 Bath:

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Price

$ 9,1M

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About This Duplex

Katelyn court apartments is a (136) unit apartment complex located in very close proximity to Eastern Kentucky University, Lowes, Walmart, Grocery stores, and Richmond's finest restaurants. The complex consist of (70) one bedroom units, and (66) two bedroom units. There is also an office, coin laundry, covered picnic area complete with tables and grills, and a play area for the kids. The current occupancy rate is 99 %. Most of the units are currently leased at below market rent. The management began, on July01, 2022increasing rents for all new leases to$600.00 /month for one bedroom units, and$700.00 /month two bedroom units. Also, at that time, they began increasing the rent for lease renewals by 5%. Given the current rental market, there probably is room for a new owner to increase renewals more aggressively. The listing broker is related to the seller.

Property Includes

Roof Composition Shingle

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Duplexes for sale in Richmond

Richmond Housing & Living

Household Income

Median household income: $34,754

Number of households: 12,954

The average household income in Richmond, KY grew from $32,436 to $34,754 in the past year. This data is an estimate based upon 12,954 households in Richmond, KY.
The chart below presents how household income is distributed in Richmond, KY in comparison to the revenue allocation amid households nationally.

Property Taxes

Average range: $800-$1,500

One of the most important aspects for property owners is the amount of property taxes. This graph shows distribution of property taxes in Richmond, KY compared to median property taxes around the country. The prevalent amount of property taxes in Richmond, KY equals $800-$1,500 , which is less than the national average.