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    Apartment buildings

    200 Melody Ln, Berea, KY 40403

    6,044 SF 0.73 ac lot Built 1980
    Property ID
    Property summary
    AI-generated overview

    This exceptional investment opportunity presents a well-maintained six-unit apartment building situated on a 0.73-acre lot in Berea, Kentucky. The property, comprised of three separate duplex buildings, boasts a total of 6,044 square feet and is currently operating at 100% occupancy, providing immediate cash flow. Constructed in 1980, the two-story buildings are situated at 200 Melody Ln, Berea, KY 40403, offering a prime location within Madison County. Each unit contributes to the strong rental income generated by this property. The asking price for this turnkey investment is $600,000. This represents a compelling opportunity for investors seeking a stable, high-occupancy multifamily asset in a desirable Kentucky market. The property's excellent condition and high occupancy rate make it an attractive prospect for both seasoned and new investors. The substantial lot size offers potential for future expansion or development, adding further value to this already strong investment. This is a rare opportunity to acquire a well-maintained, income-producing property in a thriving community.

    Property profile
    Verified
    Property type Apartment buildings
    Year built 1980
    Total area 6,044 SF
    Lot 0.73 ac (31,799 SF)
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
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    Owner & transaction history
    Owner on record
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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