5-Unit Multifamily with Shared
112-114 East 5th Street Covington, KY 41011
112-114 East 5th Street, Covington, KY, 41011
$699,000
For Sale
$699,000
Multifamily property with 5 rental units, including shared roof and common wall configurations, plus modernized systems.
Property Size5,184 SF
Price / SF$134.84
Days on Market54
Property Features for 112-114 East 5th Street
General Information
- Standard status
- Active
- Size
- 5,184 SF
- Property subtype
- Multi Family / Multi Family
Building Details
- Year Built
- 1860
Listing agency
Pulse Property Management, LLC
(859) 380-9974
Listed by
Pamela Brownfield · License #228883
(859) 380-9974
Source
Compass
Added: May 29 Updated: Jul 21 at 11:36AM Checked: Jul 21 at 11:36AM
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 Pulse Property Management, LLC
Investment Insights
Based on property information with market context.
This 5-unit multifamily property is configured with a common wall and a shared roof with the adjacent building at 112 E 5th Street, using separate PIDNs. The current setup includes four residential units and two lower level areas, with classic architectural details and modernized systems throughout.
Set in the heart of Covington, the property is described as walkable to restaurants, shops, parks, and the riverfront. The shared-wall arrangement and roof configuration make the building a cohesive component within the existing structure while maintaining separate identifiers for the parcels.
For investors and operators seeking a small-bay income property, the current unit mix provides a combination of residential units and lower level areas within a single, well-defined multifamily footprint.
Set in the heart of Covington, the property is described as walkable to restaurants, shops, parks, and the riverfront. The shared-wall arrangement and roof configuration make the building a cohesive component within the existing structure while maintaining separate identifiers for the parcels.
For investors and operators seeking a small-bay income property, the current unit mix provides a combination of residential units and lower level areas within a single, well-defined multifamily footprint.
Key Highlights
- Multifamily property with 5 total rental units and a common wall configuration with 112 E 5th Street
- Year built: 1860; classic architectural details with modernized systems
- Central air cooling plus forced‑air natural gas heating
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $81.5k | $15.72 |
| − Vacancy | −$6.1k | −$1.18 |
| EGI | $75.4k | $14.54 |
| − OpEx | −$33.9k | −$6.54 |
| NOI | $41.5k | $8.00 |
5,184 SF · lease $15.72/SF/yr · vacancy 7.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$592.3K
$518.2K – $691.0K
NOI $41,459 @ 7.0% cap · market cap 5.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.34M
$1.17M – $1.56M
NOI $93,680 @ 7.0% cap · market cap 13.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Multifamily property with 5 rental units, including shared roof and common wall configurations, plus modernized systems.
Where is this apartment building located?
The property is located at 112-114 East 5th Street Covington, KY.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Multifamily property with 5 total rental units and a common wall configuration with 112 E 5th Street; Year built: 1860; classic architectural details with modernized systems; Central air cooling plus forced‑air natural gas heating
