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727 River Dr 4 Unit Apartment Building $339,900 ($84,975/Unit) 11.32% Cap Rate Irvine, KY 40336
INVESTMENT HIGHLIGHTS
- Concrete floors on the second level.
- Concrete block walls
- On KY HWY 52 with deticated turning lane
- High visibility, easy entry, and steady traffic flow make this a standout multifamily investment.
EXECUTIVE SUMMARY
Solid 4-Plex Investment - Concrete Construction, Great Location! This 5,040 sq ft 2-story building features concrete block walls and concrete floors on both levels, ensuring quiet living and energy efficiency. It includes four large 2-bedroom, 1-bath units—one with an extra half bath. Each unit is all-electric with KY Utilities, Columbia Natural Gas, public water/sewer, and like-new HVAC systems. Roof is less than 5 years old. Concrete design + providers offering some of the lowest utility rates in the region help keep costs down. Prime location on KY HWY 52 with direct access and a dedicated turning lane—a major advantage for tenants and visitors alike. High visibility, easy entry, and steady traffic flow make this a standout multifamily investment. Currently rents for $2,500/month with a projected income of $3,200/month ($800/unit), offering strong returns on a $349,900 investment. Tenants enjoy 2 parking spots each plus guest parking. Located on KY HWY 52 for easy commute.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$30,000
|
$5.95
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$30,000
|
$5.95
|
| Taxes |
$2,051
|
$0.41
|
| Operating Expenses |
$1,500
|
$0.30
|
| Total Expenses |
$3,551
|
$0.70
|
| Net Operating Income |
$26,449
|
$5.25
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $30,000 |
| Annual Per SF | $5.95 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $30,000 |
| Annual Per SF | $5.95 |
| Taxes | |
|---|---|
| Annual | $2,051 |
| Annual Per SF | $0.41 |
| Operating Expenses | |
|---|---|
| Annual | $1,500 |
| Annual Per SF | $0.30 |
| Total Expenses | |
|---|---|
| Annual | $3,551 |
| Annual Per SF | $0.70 |
| Net Operating Income | |
|---|---|
| Annual | $26,449 |
| Annual Per SF | $5.25 |
PROPERTY FACTS
| Price | $339,900 | Building Class | C |
| Price Per Unit | $84,975 | Lot Size | 0.29 AC |
| Sale Type | Investment | Building Size | 5,040 SF |
| Cap Rate | 11.32% | Average Occupancy | 100% |
| Gross Rent Multiplier | 11 | No. Stories | 2 |
| No. Units | 4 | Year Built | 1981 |
| Property Type | Multifamily | Parking Ratio | 1.59/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | Commercial | ||
| Price | $339,900 |
| Price Per Unit | $84,975 |
| Sale Type | Investment |
| Cap Rate | 11.32% |
| Gross Rent Multiplier | 11 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.29 AC |
| Building Size | 5,040 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1981 |
| Parking Ratio | 1.59/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | Commercial |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 8+4.5 | 4 | $625.00 | - |
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PROPERTY TAXES
| Parcel Number | 071-40-10-015.01 | Total Assessment | $165,000 (2025) |
| Land Assessment | $165,000 (2025) | Annual Taxes | $2,051 ($0.41/SF) |
| Improvements Assessment | $0 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
071-40-10-015.01
Land Assessment
$165,000 (2025)
Improvements Assessment
$0 (2025)
Total Assessment
$165,000 (2025)
Annual Taxes
$2,051 ($0.41/SF)
Tax Year
2024
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Joyce Marcum Realty
727 River Dr
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