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    Richmond, KY Apartment Buildings for Sale

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    Downtown Richmond Mixed-Use Opportunity
    Updated: Feb 19
    Downtown Richmond Mixed-Use Opportunity

    204-206 S 3rd Street, Richmond, KY 40475

    $579,000
    9,763 sqft 0.19 AC lot
    Immediate cash flow from two occupied commercial suites generating approximately $44,400 annually.
    Opportunity to reposition five upper‑level apartment units for increased residential income.
    Strategic downtown location with strong visibility and pedestrian traffic.
    Mixed‑use property with multiple income streams (commercial and residential).
    Proximity to Eastern Kentucky University (EKU), restaurants, retail, and entertainment.
    View details
    Three Duplex Residential Income
    Updated: Dec 5, 2025
    Three Duplex Residential Income

    156 Hager Avenue, Richmond, KY 40475

    $660,000
    2,400 sqft 0.17 AC lot
    3 duplexes at 156, 158, and 160 Hager Drive (sold as is; inspections welcomed)
    Year built 1979; central air cooling and heat pump/electric heating; composition roof
    Each duplex side has an individual basement plus separate laundry hookups
    Per side layout includes 3 bedrooms and 1.5 baths, with main floor 1200 SF and bedroom level 1200 SF
    Average rents reported at about $800 per side; tenants have long‑term terms of 3 to 15 years
    View details
    Turn Any Listing Into an Investment Snapshot Owner equity, real caprate, demand score for every listing. Go To Analytics Center
    Based on your search, we've compiled 51 Potential Opportunities for your consideration. Besides 2 Active listings in Richmond, KY, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 41 Off-Market properties to explore as potential leads, plus 4 Land Listings that present a potential for development.

    Opportunities in Nearby Cities

    Here are 4 Similar properties we found in Nearby Locations for your consideration.

    8-Unit Apartment Building
    8-Unit Apartment Building

    388 Redding Road, Lexington, KY 40517

    $974,900
    7,300 sqft 0.27 AC lot

    Turn-key eight-unit apartment building with 100% occupancy and recent roof, siding, window, and panel upgrades.

    View details
    Renovating Multifamily Former School
    Renovating Multifamily Former School

    4314 Mackville Road, Harrodsburg, KY 40330

    $562,500
    6,933 sqft 5.60 AC lot

    Former school property is roughed-in for multiple apartment units and includes two additional outbuildings on 5.6 acres.

    View details
    19-Unit Income Apartment Building
    19-Unit Income Apartment Building

    202 S College Street, Harrodsburg, KY 40330

    $475,000
    8,008 sqft 0.19 AC lot

    Turnkey 19-unit apartment income property with updated systems, new roof, and street parking nearby.

    View details
    Multi-Family Investment Opportunity
    Multi-Family Investment Opportunity

    108 Surfside Dr, Lexington, KY 40503

    $875,000

    12-unit multi-family building in high-demand submarket, priced for redevelopment.

    View details

    Potential Development Sites for Consideration

    Can't find the perfect fit? These Land listings present an alternative path: the potential to develop a property for your specific goals.

    Important: These AI-suggestions are a starting point, not a guarantee of permitted use. All zoning, permitting, and land use information must be independently verified by you with the appropriate local authorities before making any commitments.

    Asheville Development Opportunity: 5.94 Acres
    Asheville Development Opportunity: 5.94 Acres

    215 N Bear Creek Road, Asheville, NC 28806

    $2,500,000
    5.94 AC lot

    5.94-acre parcel zoned RM6, ideal for multi-family development.

    View details
    Greenville Development Opportunity: 1.33 Acres
    Greenville Development Opportunity: 1.33 Acres

    71 Salters Road, Greenville, SC 29607

    $699,900
    1.33 AC lot

    1.33 acre parcel suitable for multi-family development near downtown.

    View details
    Land Near Shepherd University
    Land Near Shepherd University

    8285 MARTINSBURG Pike, Shepherdstown, WV 25443

    $650,000
    3.70 AC lot

    Prime land near Shepherd University with development potential.

    View details
    Central Business Zoned Development Land
    Central Business Zoned Development Land

    107 HOWARD Street, La Plata, MD 20646

    $250,000
    0.23 AC lot

    Central Business zoned parcel with plans for a three-story mixed-use building and 15 parking spaces.

    View details

    Off-Market Properties in Richmond, KY

    Consider similar Off-Market properties in Richmond, KY. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.

    308 Spangler Dr
    APARTMENT HOUSE (UNDER 5 UNITS)

    308 Spangler Dr, Richmond, KY 40475-2383

    Value Estimation by Request
    4,224 sqft 0.46 AC lot
    View details
    719 Marietha Dr
    APARTMENT HOUSE (UNDER 5 UNITS)

    719 Marietha Dr, Richmond, KY 40475-2091

    $1,810,000
    Estimated value
    3,566 sqft
    View details
    725 Marietha Dr
    APARTMENT HOUSE (UNDER 5 UNITS)

    725 Marietha Dr, Richmond, KY 40475-2090

    $1,810,000
    Estimated value
    3,566 sqft
    View details
    407 Jason Dr
    APARTMENT HOUSE (UNDER 5 UNITS)

    407 Jason Dr, Richmond, KY 40475-2088

    $1,810,000
    Estimated value
    3,600 sqft
    View details
    431 Jason Dr
    APARTMENT HOUSE (UNDER 5 UNITS)

    431 Jason Dr, Richmond, KY 40475-2185

    $1,810,000
    Estimated value
    4,160 sqft
    View details
    713 Marietha Dr
    APARTMENT HOUSE (UNDER 5 UNITS)

    713 Marietha Dr, Richmond, KY 40475-2093

    Value Estimation by Request
    3,824 sqft
    View details
    431 Gdn City Dr
    APARTMENT HOUSE (UNDER 5 UNITS)

    431 Gdn City Dr, Richmond, KY 40475-7940

    Value Estimation by Request
    1,650 sqft
    View details
    112 Shamrock Ln
    APARTMENT HOUSE (UNDER 5 UNITS)

    112 Shamrock Ln, Richmond, KY 40475-2711

    Value Estimation by Request
    3,104 sqft
    View details
    207 Mcdaniel Dr
    APARTMENT HOUSE (UNDER 5 UNITS)

    207 Mcdaniel Dr, Richmond, KY 40475-2703

    Value Estimation by Request
    3,944 sqft
    View details
    714 Main St
    APARTMENT HOUSE (UNDER 5 UNITS)

    714 Main St, Richmond, KY 40475-4307

    Value Estimation by Request
    2,432 sqft
    View details
    112 Mallory Ct
    APARTMENT HOUSE (UNDER 5 UNITS)

    112 Mallory Ct, Richmond, KY 40475-8154

    Value Estimation by Request
    4,522 sqft
    View details
    429 Gdn City Dr
    APARTMENT HOUSE (UNDER 5 UNITS)

    429 Gdn City Dr, Richmond, KY 40475-7942

    Value Estimation by Request
    3,712 sqft
    View details
    240 Susan Dr
    APARTMENT HOUSE (UNDER 5 UNITS)

    240 Susan Dr, Richmond, KY 40475-3060

    Value Estimation by Request
    4,144 sqft 0.49 AC lot
    View details
    535 Mahaffey Dr
    HIGH-RISE APARTMENTS

    535 Mahaffey Dr, Richmond, KY 40475-2436

    Value Estimation by Request
    5,776 sqft
    View details
    220 Tulip Dr
    APARTMENT HOUSE (UNDER 5 UNITS)

    220 Tulip Dr, Richmond, KY 40475-7836

    Value Estimation by Request
    4,032 sqft
    View details
    244 Wayne Dr
    APARTMENT HOUSE (UNDER 5 UNITS)

    244 Wayne Dr, Richmond, KY 40475-2697

    Value Estimation by Request
    3,808 sqft
    View details
    248 Wayne Dr
    APARTMENT HOUSE (UNDER 5 UNITS)

    248 Wayne Dr, Richmond, KY 40475-2696

    Value Estimation by Request
    3,808 sqft
    View details
    250 Wayne Dr
    APARTMENT HOUSE (UNDER 5 UNITS)

    250 Wayne Dr, Richmond, KY 40475-2695

    Value Estimation by Request
    3,808 sqft
    View details
    242 Wayne Dr
    APARTMENT HOUSE (UNDER 5 UNITS)

    242 Wayne Dr, Richmond, KY 40475-2698

    Value Estimation by Request
    3,808 sqft
    View details
    708 Main St
    APARTMENT HOUSE (UNDER 5 UNITS)

    708 Main St, Richmond, KY 40475-1893

    Value Estimation by Request
    2,900 sqft
    View details
    419 Jason Dr
    APARTMENT HOUSE (UNDER 5 UNITS)

    419 Jason Dr, Richmond, KY 40475-2085

    Value Estimation by Request
    3,600 sqft
    View details
    441 Gdn City Dr
    APARTMENT HOUSE (UNDER 5 UNITS)

    441 Gdn City Dr, Richmond, KY 40475-7936

    Value Estimation by Request
    4,080 sqft
    View details

    Richmond, KY Apartment Buildings Market Trends and Statistics

    Explore 43 apartment buildings for sale in Richmond, KY on our real estate platform. These investment opportunities span a total of 9,763 square feet of properties for sale, with an estimated market value of $579,000.

    Sale prices for two-family homes in Richmond, KY start at $579,000, averaging $579,000, and reaching up to $579,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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    Demographics Overview

    Population 65K
    Population Growth (5Y) +5.8%
    Median Household Income $62,731
    College Educated 26.2%

    High-Yield Neighborhoods for Investment

    Identify Richmond submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

    Neighborhood Average Price
    40475 $676.1K

    Taxes & Financing

    Tax Rate (average for all types) 0.97%
    Property Tax per SF $5.99 per SF
    Tax Rate vs County Average 0.02 pp below county avg
    Average Loan-to-Value 65.0%

    Listings Trend

    New vs delisted commercial listings in Madison County

    New Delisted

    Total CRE Inventory on Market (SF)

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