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214 E CHESTNUT ST CARLISLE, KY 40311
- Commercial / Resale (MLS)
Property Details for 214 E CHESTNUT ST, CARLISLE, KY 40311
Features
- Price/sqft: $103
- Lot Size: 8273
- Stories: 300
- Roof Type: Asphalt
- Heating: None
- Construction Type: Steel
- Exterior Walls: Siding (Alum/Vinyl)
Facts
- Property ID: 872677592
- MLS Number: 24002339
- Parcel Number: C03-39-001.00
- Property Type: Commercial
- County: NICHOLAS
- Listing Status: Active
Sale Type
This is an MLS listing, meaning the property is represented by a real estate broker, who has contracted with the home owner to sell the home.
Description
This listing is NOT a foreclosure. This Charming 12-Unit, 2 Bed- 1 Bath, Apartment Building Offers A Prime Investment Opportunity In The Heart Of A Close-Knit, Smaller Hometown. Impeccably Maintained, The Property Is Fully Occupied, Ensuring A Steady Stream Of Passive Income. Despite Below Market Rents, Current In-Place Cap Rate Is 6.8%. New Tenants (4 of 12 Units) Are Paying $650.00 A Month. This Equates To Almost $95,000 Of Potential Annual Gross Income, And A Proforma Cap Rate Of Over 8%. The Property Currently Has An On-Site Manager Who Is Willing To Stay On. Everything Is Direct Billed, With Tenants Paying Electric. Its Strategic Location In A Community With Strong Bonds And Potential For Growth Makes It An Appealing Asset For Investors Seeking Both Immediate Cash Flow And Future Appreciation. Proximity To Local Schools And Restaurants Adds To It's Family-Friendly Allure.
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Property Brokerage:
Kassie & Associates
209 W. Jefferson St
Georgetown
KY
40324
Copyright © 2024 Lexington-Bluegrass Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
All information provided is deemed reliable, but is not guaranteed and should be independently verified.