Description
216 Valley Street offers the opportunity to acquire a fully occupied, income-producing, value-add duplex in the heart of Richmond, Kentucky. Located just off the Richmond Bypass near a major retail corridor, the property benefits from strong rental demand and limited multifamily inventory in the area. The property features two 2-bedroom, 1-bath units totaling 4 bedrooms and 2 full baths. Both units include washer/dryer hookups, vinyl windows approximately six years old, LVP flooring throughout, and ceiling cable heat with window A/C units. The upper unit also features an updated kitchen. Recent improvements include a new roof in 2023 and driveway repairs completed in 2026. Currently 100% occupied, the property generates approximately $16,200 in annual gross rental income with rents offering continued investment stability. With low operating expenses and an estimated NOI of approximately $10,039 annually, 216 Valley Street presents a strong opportunity to acquire a stabilized multifamily asset in a high-demand Richmond location. 216 Valley Street and adjacent 214 Valley Street may be purchased together as a multifamily portfolio, with a negotiated portfolio price available for buyers acquiring both properties.
Details
| MLS # | 26010674 |
|---|---|
| Listing Type | For Sale |
| Style | Duplex |
| Sub-Type | Resale |
| Status | Active |
| Year | 9999 |
| Days On Site | 108 |
| Listing Provided By | Block + Lot Homes | Alexandra Collins |
Features
| Bed(s) | 4 |
|---|---|
| Bath(s) | 2 Total |
| SQ Feet | 1,800 |
| Units | 2 |
| Building(s) | 1 |
| Zoning | R-2 |
| Acreage | 0.24 |
Interior
| Cooling | Wall Unit(s) |
|---|---|
| Heating | Ceiling, Electric |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
Parking
| Attached Garage Yes / No | No |
|---|---|
| Parking Features | On Site, Paved |
Utilities
| Utilities | Electricity Connected, Sewer Connected, Water Connected |
|---|
Area Information
| State | KY |
|---|---|
| County | Madison |
| City | Richmond |
| Zip Code | 40475 |
| Area | 008 Madison County |
| Subarea | Madison County |
| Community Name | Ramsey Addition |
| School District | Madison County |
| Elementary School | Daniel Boone |
| High School | Madison Central |
| Listing VS Median (in Ramsey Addition) | |
Price: $235,000 low | high Med: $235,000 sqft: 1,800 low | high Med: 1,800 $ / sqft: $131 low | high Med: $131 On site: 108 low | high Med: 108 | |
Market Activity 40475
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Learn More About This Property
| State | KY |
|---|---|
| County | Madison |
| City | Richmond |
| Zip Code | 40475 |
| Area | 008 Madison County |
| Subarea | Madison County |
| Community Name | Ramsey Addition |
| School District | Madison County |
| Elementary School | Daniel Boone |
| High School | Madison Central |
| Listing VS Median (in Ramsey Addition) | |
Price: $235,000 low | high Med: $235,000 sqft: 1,800 low | high Med: 1,800 $ / sqft: $131 low | high Med: $131 On site: 108 low | high Med: 108 | |
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