Northern Kentucky - Greater Cincinnati SFR Multifamily Portfolio (55 Properties)

1004 Greenup St, Covington, KY 41011

  • For Sale $7,999,999
  • Property Type Multi-Family
  • Property Size 90,762 SF
  • Units 94
  • Additional Rent Contact for pricing
  • Date Updated Nov 5, 2024
Riverside Lifestyle: Tucked beside the Ohio River, Covington and Newport boast convenient proximity to major highways, including access to Newport on the Levee, making them ideal locales for work and leisure. Economic Hub: With Amazon's presence and a growing DSL industry, both cities boast a thriving job market, offering diverse employment opportunities in e-commerce, technology, and logistics sectors. The Midwest region continues to see significant growth driven by urbanization, economic expansion, shifting lifestyle preferences, and investor interest.We are pleased to present an exceptional investment opportunity comprising a diverse portfolio of 55 residential properties located in the thriving communities of Covington, Newport, and Dayton, Kentucky. This portfolio includes 33 single-family homes, 11 duplexes, 7 triplexes, 2 four-plexes, and 2 five-plexes. These properties are situated in prime locations with excellent connectivity to Cincinnati, OH, via major highways such as I-471, I-275, and I-71/75, offering robust potential for immediate income and long-term appreciation. Covington boasts a vibrant downtown, diverse dining options, and a burgeoning arts scene, while Newport is known for its entertainment and historic charm. Dayton offers a quiet, suburban feel with strong community spirit and proximity to urban conveniences. The Northern Kentucky area is experiencing strong rent growth due to increasing demand for quality rental properties and a competitive housing market. The portfolio benefits from its proximity to significant job growth areas in both Northern Kentucky and Cincinnati. Major employers in logistics, manufacturing, healthcare, and technology are driving economic expansion and increasing demand for housing. The region is home to burgeoning business districts, industrial parks, and the Cincinnati/Northern Kentucky International Airport, a major logistics hub, with Cincinnati providing ample employment opportunities in finance, education, and professional services. This 55-property portfolio offers a stable rental income with reduced vacancy risk, value-add opportunities through renovations and strategic property management, and significant upside potential. Detailed financial information, including current rental incomes, occupancy rates, and expenses, is available upon request. Whether you are an experienced investor looking to expand your holdings or seeking a solid entry into the market, this portfolio represents a rare opportunity to acquire a substantial, diversified real estate investment in some of Northern Kentucky’s most desirable communities.

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Attachments

Highlights

  • 55 properties (within +/- 11 miles of each other)
  • 90,762 total square feet
  • The average current monthly rent per unit is $964 as of 2024
  • The typical property size boasts an average living space of 1,650 SF
  • The portfolio offers a variety of single-family, duplex, triplexes, and multifamily properties
  • The listing provides opportunity to purchase the 33 single family properties at a discount to retail
  • Stabilized Year one pro forma cap rate projected at 9.06%
  • The entire portfolio is currently managed by a third party property management service

Contacts

broker

Justin Ryder, CCIM

SVN | Stone Commercial Real Estate

Location

Getting Around

  • Walk Score ®

    82/100 Very Walkable
  • Transit Score ®

    42/100 Some Transit
  • Bike Score ®

    63/100 Bikeable
Powered by Walk Score ®
  • City Covington, KY
  • Neighborhood Eastside Covington
  • Zip Code 41011
  • Market Cincinnati

Points of Interest

  • Columbia Sussex

    4.64 miles

  • Main Terminal

    8.27 miles

  • Concourse A

    8.29 miles

  • Concourse B

    8.33 miles

  • Circle K

    0.59 miles

  • Marathon

    0.60 miles

  • Speedway

    0.83 miles

  • BP

    0.88 miles

  • Kroger

    1.69 miles

  • UDF Fuel

    1.90 miles

  • Tesla Destination Charger

    6.84 miles

  • Tesla Supercharger

    8.67 miles

  • Transit Center Garage

    0.59 miles

  • Rivercenter Parking Entrance

    0.65 miles

  • Public Landing

    1.12 miles

  • Parking Lot (Beechwood Swim Club)

    3.74 miles

  • Lot L

    3.91 miles

  • Lot K

    4.00 miles

  • Furniture Fair Park & Ride

    4.89 miles

  • Erlanger Municipal Center Parking

    6.79 miles

  • Airport Viewing Area

    7.67 miles

  • Ready Return

    8.39 miles

  • Hotel Covington

    0.28 miles

  • North by Hotel Covington

    0.29 miles

  • Courtyard Cincinnati Covington

    0.87 miles

  • Radisson Hotel Cincinnati Riverfront

    0.91 miles

  • Hampton

    0.92 miles

  • Holiday Inn Cincinnati Riverfront

    0.93 miles

  • Extended Stay America Cincinnati Covington

    0.98 miles

  • Holiday Inn Express & Suites Cincinnati Riverfront

    1.11 miles

  • Aloft Newport on the Levee

    1.20 miles

  • Gateway Bed and Breakfast

    1.21 miles

  • Purrfect Day Cat Café

    0.25 miles

  • City Goat

    0.26 miles

  • Libby's Southern Comfort

    0.27 miles

  • Rich's Proper Food and Drink

    0.27 miles

  • Coppin's Restaurant & Bar

    0.27 miles

  • Mck's BBQ

    0.28 miles

  • Lee's Famous Recipe Chicken

    0.29 miles

  • Agave & Rye-Covington

    0.29 miles

  • Jimmy John's

    0.30 miles

  • Kung Food Amerasia

    0.39 miles

  • La Salette Academy

    0.18 miles

  • Bishop Howard School

    0.19 miles

  • Covington Latin School

    0.20 miles

  • Gateway Community & Technical College Urban Metro Campus

    0.35 miles

  • John G. Carlisle Elementary School

    0.43 miles

  • Holy Family School

    0.66 miles

  • Campbell Regional Juvenile Detention Center School

    0.78 miles

  • Newport Middle School

    0.79 miles

  • 6th District Elementary School

    0.85 miles

  • Prince of Peace School

    0.88 miles

  • Learning Grove

    0.51 miles

  • Children, Inc.

    0.51 miles

  • Early Scholars Child Development Center

    0.52 miles

  • Montessori & Early Learning Academy

    1.64 miles

  • Cadence Academy Preschool

    2.19 miles

  • Kiddie College

    2.87 miles

  • Bluebird Christian Preschool

    2.95 miles

  • Youthland Academy

    3.06 miles

  • Kids and Cribs Child Enrichment Center

    3.43 miles

  • Natural Start Preschool

    3.47 miles

Frequently Asked Questions

How much does Northern Kentucky - Greater Cincinnati SFR Multifamily Portfolio (55 Properties) cost?

The space currently listed for sale at Northern Kentucky - Greater Cincinnati SFR Multifamily Portfolio (55 Properties) asks for $7,999,999.

What is the total square footage of Northern Kentucky - Greater Cincinnati SFR Multifamily Portfolio (55 Properties)?

Northern Kentucky - Greater Cincinnati SFR Multifamily Portfolio (55 Properties) totals 90,762 square feet.

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Contact Listing Broker

broker

Justin Ryder, CCIM

SVN | Stone Commercial Real Estate