1028 Merrick Dr, Richmond, KY 40475
- $335,000
- 2,350
- SqFt
- List Price
- $335,000
- Price Change
- ▲ $35,001 1779920224
- MLS#
- 3159279
- Days on Market
- 173
- Property Type
- Multifamily
- Sqft. of Residence
- 2,350
- County
- Madison County
- Status
- ACTIVE
Property Description
This duplex property in Richmond, KY offers a strong opportunity for investors or owner-occupants looking for income-producing property with separate living spaces and utilities. The property features two units: Side 1 offers approximately 1,250 sq ft and is leased month-to-month, while Side 2 offers approximately 1,100 sq ft and is currently leased on a year-long lease, providing flexibility for future occupancy or rental adjustments. Side 1 has been remodeled, while Side 2 offers the opportunity for updates and added value. Each unit is separately metered for electric and water, with tenants responsible for all utilities including electric, water, and trash, helping reduce owner expenses. The property is serviced by city water and sewer and operates as all-electric with no gas. HVAC systems for both units were replaced in September 2018. Exterior features include bay windows on both sides, stonework detailing with keystones above the windows, and a laser-engraved address in stone, adding to the property's curb appeal. A rear storage building provides space for lawn equipment such as a mower, blower, and weed eater. Both units also include pull-down attic stair access for additional storage. There is no HOA. Located in Richmond, the property is close to Eastern Kentucky University, local shopping, dining, and healthcare facilities. Outdoor recreation can be found nearby at Lake Reba Park and Paradise Cove Aquatic Center. Neighboring cities such as Lexington, Berea, and Nicholasville provide additional employment, entertainment, and dining options, making this a convenient and desirable rental location. This duplex offers a combination of current rental income, future upside potential, and a convenient location in a growing area.
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Additional Information
- Construction Type
- Aluminum Siding, Brick
- Cooling System
- Central Air, Electric
- Elementary School
- Daniel Boone Elementary School
- Floor Types
- Carpet, Wood, Tile
- Heating System
- Central, Electric
- High School
- Madison Central High School
- Junior High School
- Clark Moores Middle School
- Laundry
- Individual, Electric Dryer Hookup, Washer Hookup
- Living Area
- 2,350
- Lot Dimensions
- 0.22
- Number Of Stories
- 2
- Roofing Material
- Shingle
- Sewer System
- Public Sewer
- Subdivision
- Merrick Place
- Tax Amount
- $1,651
- Water Source
- Public
- Year Built
- 1999
- Zoning
- R
- Type
- Multifamily
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Listing courtesy of GRATEFUL ACRES REALTY.
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