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504-506 N Race St 12 Unit Apartment Building $1,050,000 ($87,500/Unit) 8% Cap Rate Glasgow, KY 42141
Investment Highlights
- 100% Leased
- Coin Laundry Available.
Executive Summary
Great income producing property! Conveniently located in the heart of Glasgow, 100% occupied. Great rental history. Coin laundry producing income in the basement entry. Entire properties were rennovated and updated approximately 7-8 years ago. Tenants pay electric which is separately metered. Owners pay water and sewer, and the water bill is less than $400 per month, which produces approximately $116,000 per year.
Property Facts
| Price | $1,050,000 | Apartment Style | Low-Rise |
| Price Per Unit | $87,500 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.41 AC |
| Cap Rate | 8% | Building Size | 7,000 SF |
| No. Units | 12 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1963/2018 |
| Zoning | RESIDENTIA | ||
| Price | $1,050,000 |
| Price Per Unit | $87,500 |
| Sale Type | Investment |
| Cap Rate | 8% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.41 AC |
| Building Size | 7,000 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1963/2018 |
| Zoning | RESIDENTIA |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 10 | - | 695 |
| 2+1 | 2 | - | 966 |
Property Taxes
| Parcel Number | G1-19-34 | Improvements Assessment | $900,000 |
| Land Assessment | $125,000 | Total Assessment | $1,025,000 |
Property Taxes
Parcel Number
G1-19-34
Land Assessment
$125,000
Improvements Assessment
$900,000
Total Assessment
$1,025,000
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504-506 N Race St
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