220 & 224 E Main St, 144/146 Montgomery Ave

Multi-Family for Sale
Catylist Listing ID: 30781958
Property Subtypes: Duplex/Fourplex, Other
Number of Units: 17 Units
Building Size (RSF): 14,418 SF
Gross Building Area: See Agent
Sale Price: $1,100,000
Unit Price: $64,705.88 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 1/11/2022

Overview / Comments

Multi-family package of 2 duplexes and 1 apartment building located in the heart of Frankfort near restaurants, retail, government offices, and Kentucky State University! This package consists of 1 apartment building with 12 units complete and 1 under construction. Eleven of the 12 units are occupied currently. Also included are 2 duplexes (4 total units). The apartment building and 1 of the duplexes has off street parking. The second duplex has on street parking available. There are rent rolls and 2020 P&L available. The 2021 P&L is currently being completed. The breakdown for the apartment building layout is as follows:

All Units have 1 bathroom.
Maintenance room
Downstairs:
Unit 1 - 1 BR
Unit 2 - 1 BR
Unit 3 - 2BR Unit 4 - Studio
Unit 5 - Studio
Upstairs:
Unit 6 - Studio
Unit 7 - Studio
Unit 8 - 2 BR
Unit 9 - 1 BR
Unit 10 - Studio
Unit 11 - 1 BR
Outside Entrance: Unit 12 - 2 BR

The local zoning code for the apartment building is RC and the local zoning code for the duplexes is RL. The square footage given is all 3 buildings combined.

Additional Details

Nearest MSA: Frankfort
County: Franklin
Tax ID/APN: 061-44-05-025.00, 061-44-05-024.00, 061-43-01-006.01
Zoning: MF-2
Percent Occupied: 93%
Property Located Between: US-60 & US-421
Highway Access: US 60
Airports: Capital City Airport
Area Description: Located in the heart of Frankfort, KY near the capitol building and other government buildings.
Construction/Siding: Brick, Brick/Vinyl Siding
Parking Type: Surface
Heat Type: Electricity
Heat Source: Central
Fuel: Electric
Air Conditioning: Other
Zoning Description: Zoning for the duplexes is RL and zoning for the apartment building is RC.
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,045 30,350 42,342
Median Age: 38.69 37.84 38.92
Households: 2,012 13,186 17,885
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