Three-Unit
For Sale
$375,000
401 Washington Ave, Bellevue, KY
Corner-lot property offers three separate residences and is fully tenant occupied.
Property Size2,754 SF
Price / SF$136.17
Days on Market16
Property Features for 401 Washington Ave
General Information
Standard status
Active
Size
2,754 SF
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
1 x 3/1, 1 x 1/1, 1 x efficiency unit
Multifamily Units
3
Additional Details
Gross Income
$41,148
Tenant in Place
Yes
Building Details
Buildings
1
Listing Agency:
Keller Williams Realty Service
Listed By:
The Apex Group
(859) 240-0727
Source:
Exprealty
Added: Oct 22
Changed: Nov 3
Last Checked: Nov 4 at 2:03PM
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 Realty Service
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Investment Insights
Based on property information with market context.
This triplex contains 2,754 square feet across three residences: a 3-bedroom, 1-bathroom unit, a 1-bedroom, 1-bathroom unit, and an efficiency. The property is fully occupied by tenants, with current monthly rents totaling $3,429.
Situated on a corner lot, the property is located at 401 Washington Ave in Bellevue, Kentucky.
Situated on a corner lot, the property is located at 401 Washington Ave in Bellevue, Kentucky.
Key Highlights
- Three residences: 3/1, 1/1, and an efficiency
- 2,754‑square‑foot building on a corner lot
- Fully tenant occupied; current rents total $3,429 per month
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,804
Cap Rate
6.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$496,080
$496.1K
Cap Rate 7%
$354,343
$354.3K
Cap Rate 9%
$275,600
$275.6K
Market Conditions
NOI Build-Up for 2,754 SF
Gross rent
$38.7K $14.04/SF
− Vacancy
−$3.2K −$1.17/SF
EGI
$35.4K $12.87/SF
− OpEx
−$10.6K −$3.86/SF
NOI
$24.8K $9.01/SF
Area
Campbell County, KY
Vacancy
8.36%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$496,080
Cap Rate 7%
$354,343
Cap Rate 9%
$275,600
Alternative Uses
Best Use
Multifamily LT 5
$354.3K
$310.1K – $413.4K
NOI $24,804 @ 7.0% cap · market cap 6.61%
Second Best
Apartment 5plus
$326.8K
$286.0K – $381.3K
NOI $22,876 @ 7.0% cap · market cap 6.10%
Theoretical Best
Office A
$755.4K
$661.0K – $881.3K
NOI $52,877 @ 7.0% cap · market cap 14.10%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,016
Businesses Nearby
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Corner-lot property offers three separate residences and is fully tenant occupied.
Where is this triplex located?
The property is located at 401 Washington Ave Bellevue, KY.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Three residences: 3/1, 1/1, and an efficiency; 2,754‑square‑foot building on a corner lot; Fully tenant occupied; current rents total $3,429 per month
