Real Estate Sat April 2nd 10:00AM

Download a brochure under documents! 

Practically "mid-point" between quaint Berea & thriving Richmond in Madison Co, is this unique investment opportunity.  5 units! A duplex & a triplex quietly placed on approx 1.7 acres. Minimum Bid on real estate is merely $99,000 day of auction only!  Great for owner occupant or straight rental.  Short drive to Berea and the college there.

Truly a park-like setting with trees, birds, & peace and quiet. A completely unexpected and delightful surprise to find. Property has been fully rented.  Current owner lives in one side of duplex the other side is rented for $525.00.  Tri-plex has one unit rented for $475.00 with one empty and one unit being used for storage for current owner.

Property does have $28,500 in Gross annual rents (potential) with owner paying utilities.

$28,500

-$7000  Utilities (I used 7000 - reported was 5600)

-$1627 Current Taxes

$19,873

If property sells at the mimimum bid of $99,900 the cap rate is nearly 20%.

At $150,000 cap rate will be approx 13%

There is great investment potential here.  Current owner's mother paid $169,000 over 4 years ago.

Karen Stevenson - Broker - KS Realty Services

859-221-1568

karen@sellingky.com