Income-Generating Duplex with
For Sale
$335,000
1028 Merrick Dr, Richmond, KY 40475
Two separately metered units each with pull-down attic access and rear storage building; city water and sewer and all-electric.
Property Size2,350 SF
Price / SF$142.55
Days on Market174
Property Features for 1028 Merrick Dr
General Information
Standard status
Active
Size
2,350 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Business Included
Yes
Multifamily Units
2
Building Details
Year Built
1999
Tenancy
Multi
Listing Agency:
GRATEFUL ACRES REALTY
Listed By:
MaKenzie Griffis · License #373232
(931) 551-6127
Source:
Fiddletreerealty
Added: May 8
Changed: Oct 25
Last Checked: Oct 26 at 6:54PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of GRATEFUL ACRES REALTY
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Investment Insights
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This duplex consists of two separate living units with individual utility metering. Side 1 has been remodeled and is leased month-to-month. Side 2 offers approximately 1,100 sq ft and is currently leased on a year-long lease. Each unit is all-electric and serviced by city water and sewer, with tenants responsible for electric, water, and trash.
The property includes exterior bay windows on both sides, stonework detailing with keystones above the windows, and a laser-engraved address in stone. HVAC systems for both units were replaced in September 2018.
A rear storage building provides space for lawn equipment, and both units include pull-down attic stair access for additional storage. There is no HOA. The property is located in Richmond, KY near Eastern Kentucky University, local shopping, dining, and healthcare facilities.
The property includes exterior bay windows on both sides, stonework detailing with keystones above the windows, and a laser-engraved address in stone. HVAC systems for both units were replaced in September 2018.
A rear storage building provides space for lawn equipment, and both units include pull-down attic stair access for additional storage. There is no HOA. The property is located in Richmond, KY near Eastern Kentucky University, local shopping, dining, and healthcare facilities.
Key Highlights
- Duplex built in 1999 with two separately metered units for electric and water
- Side 1 approx. 1,250 sq ft is remodeled and leased month‑to‑month
- Side 2 approx. 1,100 sq ft is year‑long leased and offers opportunity for updates
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Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
316
Businesses Nearby
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Business Placement
Demographics for 40475, KY
62,531
Population
28,118
Households
2.2
Avg Household Size
35
Median Age
37%
College-Educated
93%
High-School Grad
287.3 sq mi
ZIP Area
218
Density / Sq Mi
$62,731
Median Household Income
$35,102
Median Earnings
$863
Median Rent
$232,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two separately metered units each with pull-down attic access and rear storage building; city water and sewer and all-electric.
Where is this duplex located?
The property is located at 1028 Merrick Dr Richmond, KY.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: Duplex built in 1999 with two separately metered units for electric and water; Side 1 approx. 1,250 sq ft is remodeled and leased month‑to‑month; Side 2 approx. 1,100 sq ft is year‑long leased and offers opportunity for updates
