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    228 Magnolia Dr Richmond, KY 40475

    For Sale
    $359,900

    MULTI_FAMILY - Richmond, KY

    Property size:
    2,800 SF
    Lot size:
    0.50 Acres
    Days on Market:
    17
    Last Refresh:
    Dec 7 at 5:06 am

    Property Features for 228 Magnolia Dr

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bathroom 3, Bedroom 4, Bedroom 2, Bedroom 3, Bathroom 1, Bathroom 4, Bedroom 1, Bathroom 2
    Bedrooms
    4
    Bathrooms
    4
    APN
    r001-0009-0001
    Parking
    5
    Size
    2,800 SF
    Lot size
    0.50 Acres

    Utilities

    Heating system
    Baseboard
    Cooling system
    Window Unit(s)

    Building Details

    Number of units
    4
    Roof type
    Composition

    Realtors of Kentucky (859) 661-5117

    Listing agent Delma Peercy (859) 661-5117

    Listing date Nov 21, 2025

    MLS# 25010366 Listing URL

    Copyright © 2025 ImagineMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Richmond Kentucky Multifamily Investment Property

    This well-maintained fourplex is located in Richmond, Kentucky, offering a rare investment opportunity. Each of the four units features one bedroom, a full bathroom, and a laundry room. The property is situated in a convenient location, not far from Eastern Kentucky University, the EKU By-Pass, and I-75. The building contains two units on the first floor and two units upstairs, accessible via a central stairwell. The property includes a lot with mature trees and blacktop parking. The roof is 8 years old, and there is no carpet in the units. Tenants are responsible for all utilities. Each unit is currently rented for $650. With a lot size of 0.5 acres and a property size of 2800 square feet, this property presents a good investment opportunity. The property is located in Madison County. It may be suitable for an owner-occupant to live in one unit and rent out the other three.
    Property Profile Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Law Firm Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Madison
    State
    Kentucky
    Longitude
    -84.314591
    Latitude
    37.741149

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    FAQs

    What type of property is this?
    Quadplex - Well-kept fourplex near Eastern Kentucky University with income potential.
    Where is this quadplex located?
    The property is located at 228 Magnolia Dr Richmond, KY.
    What is the asking price?
    The asking price for this property is $359,900.
    What are key features of this property?
    This property features: - Four units, each with 1 bedroom, 1 full bath, and laundry room, providing immediate rental income.; - Excellent location near Eastern Kentucky University (EKU), EKU By-Pass, and I-75.; - Each unit currently rented for $650, with tenants paying all utilities.
    (859) 661-5117
    Request Owner's contact information
    228 Magnolia Dr Richmond, KY 40475
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    Richmond, KY 40475
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    228 Magnolia Dr Richmond, KY 40475
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