Multifamily Property with River
For Sale
$475,900
435 River Road, Bromley, KY 41016
MultiFamily, Bromley, KY
Property Size5,183 SF
Lot Size1.00 Acre
Price / SF$91.82
Days on Market275
Property Features for 435 River Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Multi Family
Bedrooms
6
Bathrooms
5
Full bathrooms
4
Half bathrooms
1
Rooms
Bedroom 1, Bathroom 2, Bedroom 5, Bathroom 4, Basement, Bathroom 3, Bedroom 4, Bathroom 5, Bedroom 2, Bedroom 3, Bedroom 6, Bathroom 1
Parking
5
Parking features
Off Street, Driveway, Garage
Window features
Vinyl Frames
Patio and Porch features
Deck
Exterior features
Private Yard
Basement
Full
Appliances
Electric Range, Refrigerator
View
River
Elementary school
River Ridge Elementary
Middle school
Turkey Foot Middle School
High school
Dixie Heights High
Elementary school district
Kenton Co Public
Middle school district
Kenton Co Public
High school district
Kenton Co Public
Directions
take 75 n take exit 192 take right on elm and keep going for few miles the building on your left
Subdivision
K02 - Bromley/Ludlow Area
Standard status
Active
APN
026-20-00-017.00
Size
5,183 SF
Lot size
1.00 Acre
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1949
Floors in Building
2
Number of units
4
Building materials
Block, Brick, Stone, Vinyl Siding
Roof type
Composition
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Firas Asha Sr. · License #262793
(513) 807-1201
Added: Nov 20, 2025
Changed: Aug 21
Last Checked: Aug 22 at 5:06PM
MLS# 638141
Copyright © 2026 Northern Kentucky MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multifamily income property includes two buildings on a one-acre parcel with a detached garage. The overall setup features a residential house plus a separate three-unit building, with the three-unit building described as month-to-month. Exterior features include a private yard and a deck.
The property was built in 1949 and is served by public water and a septic tank. Heating is natural gas with forced air, and cooling is provided by central air. Construction materials include block, brick, stone, and vinyl siding. The roof is described as composition.
Additional on-site features include off-street parking and a driveway, with a garage for vehicle storage. Cable service is available, and the home includes appliances such as an electric range and refrigerator.
The property was built in 1949 and is served by public water and a septic tank. Heating is natural gas with forced air, and cooling is provided by central air. Construction materials include block, brick, stone, and vinyl siding. The roof is described as composition.
Additional on-site features include off-street parking and a driveway, with a garage for vehicle storage. Cable service is available, and the home includes appliances such as an electric range and refrigerator.
Key Highlights
- One‑acre parcel with two buildings plus a detached garage
- Three‑unit building described as month‑to‑month
- Private yard and deck
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$41,451
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.71%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$829,020
$829.0K
Cap Rate 7%
$592,157
$592.2K
Cap Rate 9%
$460,567
$460.6K
Market Conditions
NOI Build-Up for 5,183 SF
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.
Gross rent
$81.5K $15.72/SF
− Vacancy
−$6.1K −$1.18/SF
EGI
$75.4K $14.54/SF
− OpEx
−$33.9K −$6.54/SF
NOI
$41.5K $8.00/SF
Area
Kenton County, KY
Vacancy
7.50%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$829,020
Cap Rate 7%
$592,157
Cap Rate 9%
$460,567
Alternative Uses
Best Use
Multifamily LT 5
$664.3K
$581.3K – $775.1K
NOI $46,503 @ 7.0% cap · market cap 9.77%
Second Best
Apartment 5plus
$592.2K
$518.1K – $690.9K
NOI $41,451 @ 7.0% cap · market cap 8.71%
Theoretical Best
Office A
$1.34M
$1.17M – $1.56M
NOI $93,662 @ 7.0% cap · market cap 19.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
86
Businesses Nearby
Explore this area
Business Placement
Demographics for 41016, KY
5,684
Population
2,958
Households
1.9
Avg Household Size
39
Median Age
29%
College-Educated
92%
High-School Grad
1.5 sq mi
ZIP Area
3,789
Density / Sq Mi
$61,748
Median Household Income
$42,103
Median Earnings
$1,034
Median Rent
$151,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Two-building multifamily on a one-acre parcel with a detached garage, central air, and public water with septic service.
Where is this triplex located?
The property is located at 435 River Road Bromley, KY.
What is the asking price?
The asking price for this property is $475,900.
What are key features of this property?
This property features: One‑acre parcel with two buildings plus a detached garage; Three‑unit building described as month‑to‑month; Private yard and deck
