Apartment Building with Historic
New
For Sale
$695,000
513 E 6th Street, Newport, KY 41071
Multi-family property with natural woodwork, classic character, and a stated restoration path to a single-family historic home.
Property Size2,666 SF
Days on Market5
Property Features for 513 E 6th Street
General Information
Standard status
Active
Size
2,666 SF
Property subtype
Multi Family Home
Zoning
Multi Family
Units
Unit Mix
3 x 1BR/1BA, 3 x studio/1BA
Multifamily Units
6
Building Details
Building Size
2,666 SF
Year Built
1906
Buildings
1
Units
6
Listing Agency:
Kopf Hunter Haas
(513) 871-4040
Listed By:
Valerie Kreimer · License #276273
(513) 871-4040
Source:
Bushrealty
Added: Aug 1
Changed: Aug 2
Last Checked: Aug 5 at 1:10PM
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 Kopf Hunter Haas
Investment Insights
Based on property information with market context.
Built in 1906, this multi-family property contains six units: three one-bedroom apartments and three studio apartments. Each unit includes one full bathroom. Interior natural woodwork, classic detailing, and historic character define the building’s presentation. The property is zoned Multi Family and is also described as suitable for restoration to its original single-family historic-home configuration.
The building occupies a corner lot at 513 E 6th Street in Newport, Kentucky. Its position at the intersection of 6th and Park Avenue provides a clearly defined site presence. The combination of an established unit layout, period architectural details, and an alternate single-family restoration concept gives the property two distinct physical configurations to consider.
The building occupies a corner lot at 513 E 6th Street in Newport, Kentucky. Its position at the intersection of 6th and Park Avenue provides a clearly defined site presence. The combination of an established unit layout, period architectural details, and an alternate single-family restoration concept gives the property two distinct physical configurations to consider.
Key Highlights
- Six‑unit layout with three one‑bedroom apartments and three studio units
- Each unit includes one full bathroom
- 1906 construction with natural woodwork and classic historic detailing
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 | $44.1k | $16.56 |
| − Vacancy | −$3.9k | −$1.46 |
| EGI | $40.3k | $15.10 |
| − OpEx | −$18.1k | −$6.80 |
| NOI | $22.1k | $8.31 |
2,666 SF · lease $16.56/SF/yr · vacancy 8.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$316.4K
$276.8K – $369.1K
NOI $22,145 @ 7.0% cap · market cap 3.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$731.2K
$639.8K – $853.1K
NOI $51,187 @ 7.0% cap · market cap 7.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
2,080
Businesses Nearby
Explore this area
Business Placement
Demographics for 41071, KY
19,796
Population
10,883
Households
1.8
Avg Household Size
37
Median Age
38%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
3,599
Density / Sq Mi
$58,329
Median Household Income
$44,836
Median Earnings
$1,047
Median Rent
$186,000
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?
Apartment building - Multi-family property with natural woodwork, classic character, and a stated restoration path to a single-family historic home.
Where is this apartment building located?
The property is located at 513 E 6th Street Newport, KY.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Six‑unit layout with three one‑bedroom apartments and three studio units; Each unit includes one full bathroom; 1906 construction with natural woodwork and classic historic detailing
