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Florence Multifamily Investment Opportunity

7402 Shenandoah Drive, Florence, KY 41042

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For Sale

$1,000,000

MULTI_FAMILY - Florence, KY

Type:Apartment

Property size:

7,928 SF

Lot size:

1.35 Acres

Price / SF:

$126/SF

HighLights

Eight townhome units provide a significant investment opportunity.
Solid rental history with potential to increase rents to market rates.
Mix of 1‑4 bedroom units offers diverse tenant appeal.
Each unit includes private patios and washer/dryer hookups.
Tenants pay all utilities, reducing landlord expenses.
Convenient location near schools, shopping, and major highways.

We can help!

Listing Contact

Amy Zimmerman

For Sale

$1,000,000

MULTI_FAMILY - Florence, KY

Type:Apartment

Property size:

7,928 SF

Lot size:

1.35 Acres

Price / SF:

$126/SF

Added:: Oct 31, 2025
Days on Market:: 227
Last Refresh:: Jun 14 at 2:06 pm

Property Features for 7402 Shenandoah Drive

General Information

Property type: Residential Multi Family
Property subtype: Apartment
Bedrooms: 18
Bathrooms: 11
Rooms: Bedroom 10, Bedroom 11, Bathroom 6, Bedroom 15, Bedroom 1, Bathroom 8, Bathroom 11, Bedroom 14, Bedroom 4, Bathroom 3, Bathroom 5, Bathroom 2, Bathroom 13, Bedroom 9, Bedroom 12, Bedroom 6, Bedroom 17, Bathroom 1, Bathroom 12, Bathroom 7, Bedroom 13, Bedroom 2, Bathroom 10, Bedroom 7, Bathroom 14, Bathroom 4, Bedroom 5, Bathroom 9, Bedroom 3, Bedroom 18, Bedroom 16, Bedroom 8
Parking features: Parking Lot, Off Street
Window features: Vinyl Frames, Insulated Windows
Patio and Porch features: Porch, Patio
Interior features: Storage, Eat-in Kitchen
Appliances: Electric Range, Dishwasher, Refrigerator
Standard status: Active
APN: 061.09-28-001.00
Size: 7,928 SF
Lot size: 1.35 Acres

Utilities

Utilities: Cable Available
Sewer type: Public Sewer
Heating system: Natural Gas, Forced Air
Cooling system: Central Air
Water source: Public

Building Details

Year built: 1970
Floors in Building: 2
Number of units: 8
Building materials: Brick, Vinyl Siding
Roof type: Shingle
Additional Structures: Storage

We can help!

Listing Contact

Amy Zimmerman

Listing agent Amy Zimmerman License #196129

Listing office exp Realty, LLC 2500 Chamber Center Dr #203, Ashland, KY

Listing date Oct 31, 2025

MLS# 637664 Listing URL

HighLights

Eight townhome units provide a significant investment opportunity.
Solid rental history with potential to increase rents to market rates.
Mix of 1‑4 bedroom units offers diverse tenant appeal.
Each unit includes private patios and washer/dryer hookups.
Tenants pay all utilities, reducing landlord expenses.
Convenient location near schools, shopping, and major highways.

Overview

Located in Florence, Kentucky, this multifamily property features eight townhome units situated at 7402-7416 Shenandoah Drive. The property, well-maintained with a solid rental history, presents an investor opportunity. The units include a mix of one- to four-bedroom layouts, each equipped with private patios and washer/dryer hookups. Tenants are responsible for all utilities, while the landlord covers storm water and trash pick up. The property is conveniently located near schools, shopping, and major highways. The units are primarily under month-to-month leases, providing flexibility to adjust rents to current market rates. The property occupies a 1.35-acre lot and has a total area of 7,928 square feet.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$114.2k	$14.40
− Vacancy	−$7.4k	−$0.94
EGI	$106.7k	$13.46
− OpEx	−$48.0k	−$6.06
NOI	$58.7k	$7.41

7,928 SF · lease $14.40/SF/yr · vacancy 6.50% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$838.7K

$733.9K – $978.5K (±1% cap)

NOI $58,708 @ 7.0% cap · market cap 5.87%

Second Best

—

no second resolved use

Theoretical Best

Office A

$2.19M

$1.91M – $2.55M (±1% cap)

NOI $152,979 @ 7.0% cap · market cap 15.30%

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

Property Profile Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Location Insight

Map
Local Demand

City: Florence
County: Boone
State: Kentucky
Longitude: -84.622237
Latitude: 38.996568

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For sale
Apartment buildings
KY
Florence
41042
7402 Shenandoah Drive

What type of property is this?

Apartment building - Eight townhome units with rental history in Florence, Kentucky.

Where is this apartment building located?

The property is located at 7402 Shenandoah Drive Florence, KY.

What is the asking price?

The asking price for this property is $1,000,000.

What are key features of this property?

This property features: Eight townhome units provide a significant investment opportunity.; Solid rental history with potential to increase rents to market rates.; Mix of 1‑4 bedroom units offers diverse tenant appeal.

7402 Shenandoah Drive, Florence, KY 41042

MULTI_FAMILY - Florence, KY

Property Features for 7402 Shenandoah Drive

General Information

Utilities

Building Details

We can help!

HighLights

Overview

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Medical Office with Three Treatment Rooms

Professional Office Condo For Sale

Professional Office Condo For Sale

Office Building with Conference Rooms

Medical Office with Full Basement

Established Eye Care Center

Florence KY Office Building Investment

End-Unit Medical Office Condo

Leased Walgreens Retail Store

Professional Office Condo For Sale

Former Bank Building on Dixie

High Visibility Restaurant For Sale

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