Triplex with Separate Electric
For Sale
$344,900
208 Auburn Avenue, Somerset, KY 42503
The walk-out lower level contains two apartments, each with its own electric service.
Property Size4,314 SF
Price / SF$79.95
Days on Market135
Property Features for 208 Auburn Avenue
General Information
Standard status
Active
Size
4,314 SF
Property subtype
Triplex
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Individually Metered Utilities
electricity
Building Details
Year Built
1970
Listing Agency:
Keller Williams Bluegrass Realty - Lake Cumberland
Listed By:
Millie King Weaver · License #208856
(606) 875-1333
Source:
Mdmitchellrealestate
Added: Jun 19
Changed: Oct 29
Last Checked: Oct 29 at 2:47PM
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 Keller Williams Bluegrass Realty - Lake Cumberland
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Investment Insights
Based on property information with market context.
This 4,314-SF triplex was built in 1970 and contains three residences. The main level measures approximately 2,157 square feet and has three bedrooms and two full bathrooms. A walk-out basement is configured as two apartments: one with two bedrooms and one bathroom, and another with one bedroom and one bathroom. Each lower-level unit has separate electric service.
The property also offers ample parking and is located near shopping, dining, schools, and everyday amenities.
The property also offers ample parking and is located near shopping, dining, schools, and everyday amenities.
Key Highlights
- Three rental units in one property
- Main level is approximately 2,157 square feet with 3 bedrooms and 2 full bathrooms
- Walk‑out basement has a 2‑bedroom, 1‑bath apartment and a 1‑bedroom, 1‑bath apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,305
Cap Rate
8.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$586,100
$586.1K
Cap Rate 7%
$418,643
$418.6K
Cap Rate 9%
$325,611
$325.6K
Market Conditions
NOI Build-Up for 4,314 SF
Gross rent
$55.9K $12.96/SF
− Vacancy
−$2.6K −$0.61/SF
EGI
$53.3K $12.35/SF
− OpEx
−$24.0K −$5.56/SF
NOI
$29.3K $6.79/SF
Area
Pulaski County, KY
Vacancy
4.70%
Lease Rate
$12.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$586,100
Cap Rate 7%
$418,643
Cap Rate 9%
$325,611
Alternative Uses
Best Use
Multifamily LT 5
$469.9K
$411.1K – $548.2K
NOI $32,890 @ 7.0% cap · market cap 9.54%
Second Best
Apartment 5plus
$418.6K
$366.3K – $488.4K
NOI $29,305 @ 7.0% cap · market cap 8.50%
Theoretical Best
Specialty Retail
$735.0K
$643.1K – $857.5K
NOI $51,447 @ 7.0% cap · market cap 14.92%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
438
Businesses Nearby
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Business Placement
Demographics for 42503, KY
24,670
Population
11,588
Households
2.1
Avg Household Size
42
Median Age
23%
College-Educated
85%
High-School Grad
129.5 sq mi
ZIP Area
191
Density / Sq Mi
$53,377
Median Household Income
$35,319
Median Earnings
$873
Median Rent
$198,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - The walk-out lower level contains two apartments, each with its own electric service.
Where is this triplex located?
The property is located at 208 Auburn Avenue Somerset, KY.
What is the asking price?
The asking price for this property is $344,900.
What are key features of this property?
This property features: Three rental units in one property; Main level is approximately 2,157 square feet with 3 bedrooms and 2 full bathrooms; Walk‑out basement has a 2‑bedroom, 1‑bath apartment and a 1‑bedroom, 1‑bath apartment
