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$ 235,000
Price Dropped by $4K
214 Valley Street Richmond, KY 40475
4 Beds
2 Baths
1,800 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Square Footage 1,800 sqft
Price per Sqft $130
Subdivision Ramsey Addition
MLS Listing ID 26010673
Bedrooms 4
Full Baths 2
Lot Size 9,613 Sqft
Acres 0.22
Property Sub-Type Duplex
Property Description
214 Valley Street offers the opportunity to acquire a fully occupied, income-producing, value-add duplex in the heart of Richmond, Kentucky. Located just off the Richmond Bypass near a major retail corridor, the property benefits from strong rental demand and limited multifamily inventory in the area. The property features two 2-bedroom, 1-bath units totaling 4 bedrooms and 2 full baths. Both units include central heat and air, washer/dryer hookups, vinyl windows approximately six years old, and carpet and vinyl flooring throughout. Recent improvements include a new roof in 2023, new eaves in 2026, and driveway repairs completed in 2026. Currently 100% occupied, the property generates approximately $12,600 in annual gross rental income with below-market rents, offering future upside potential for investors. With low operating expenses and an estimated NOI of approximately $7,481 annually, 214 Valley Street presents a strong opportunity to acquire a stabilized multifamily asset in a high-demand Richmond location. 214 Valley Street and adjacent 216 Valley Street may be purchased together as a multifamily portfolio, with a negotiated portfolio price available for buyers acquiring both properties.
Location
State KY
County Madison
Zoning R-2
Interior
Heating Electric, Forced Air
Cooling Central Air
Laundry Electric Dryer Hookup, Main Level, Washer Hookup
Exterior
Parking Features On Site, Paved
Utilities Available Electricity Connected, Sewer Connected, Water Connected
View Y/N N
Handicap Access No
Private Pool No
Schools
Elementary Schools Daniel Boone
Middle Schools Michael Caudill
High Schools Madison Central
Listed by Block + Lot Homes