Corner Lot Multifamily
513 East 6th Street Newport, KY 41071
513 East 6th Street, Newport, KY, 41071
$710,500
For Sale
$710,500
Six-unit multifamily building on a corner lot, offering three 1-bedroom and three studio units with full bathrooms.
Property Size2,666 SF
Price / SF$266.50
Days on Market134
Property Features for 513 East 6th Street
General Information
- Standard status
- Active
- Size
- 2,666 SF
- Property subtype
- Multi Family / Multi Family
Building Details
- Year Built
- 1906
Listing agency
Kopf Hunter Haas
(513) 441-5204
Listed by
Valerie Kreimer · License #276273
(513) 441-5204
Source
Compass
Added: Mar 12 Updated: Jul 21 at 11:34PM Checked: Jul 22 at 10:47AM
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.
This charming six-unit multifamily property offers three 1-bedroom units and three studio units, with each unit featuring one full bathroom. The building includes beautiful natural woodwork throughout and is described as having classic character and historic charm.
The property is situated on a corner lot at East 6th Street and Park Avenue, which supports strong visibility. Public remarks also note the property’s rental potential and a single-family restoration option to an original historic home.
The configuration is straightforward for income use, with a mix of studios and 1-bedroom units housed within one building on the corner site.
The property is situated on a corner lot at East 6th Street and Park Avenue, which supports strong visibility. Public remarks also note the property’s rental potential and a single-family restoration option to an original historic home.
The configuration is straightforward for income use, with a mix of studios and 1-bedroom units housed within one building on the corner site.
Key Highlights
- 6‑unit multifamily on a corner lot with 3 one‑bedroom units and 3 studio units
- Each unit includes a full bathroom (4 bathrooms total); building has 3 fireplaces
- Year built: 1906; exterior features shingle roof and partial metal fencing
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 | $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 3.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$731.2K
$639.8K – $853.1K
NOI $51,187 @ 7.0% cap · market cap 7.20%
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 - Six-unit multifamily building on a corner lot, offering three 1-bedroom and three studio units with full bathrooms.
Where is this apartment building located?
The property is located at 513 East 6th Street Newport, KY.
What is the asking price?
The asking price for this property is $710,500.
What are key features of this property?
This property features: 6‑unit multifamily on a corner lot with 3 one‑bedroom units and 3 studio units; Each unit includes a full bathroom (4 bathrooms total); building has 3 fireplaces; Year built: 1906; exterior features shingle roof and partial metal fencing
