Great investment opportunity listed at an 8.00+/-% Cap Rate featuring 4 parcels, 9 buildings, and 25 units just minutes from Murray State University. Unit types include 13 - one bedroom, one bathroom units; 4 - two bedroom, one bathroom units; and 8 - 4 bedroom, two bathroom units. With current Gross Rents of $24,000 per month, updated units, and low vacancies, this is an investor's dream come true! Don't let this one get away!
Investment property is a prime opportunity, ideally located less than a block from MSU! Both Units are currently occupied. Unit 1 offers spacious layout, including a separate living room and family/Den that could be a THIRD bedroom. It includes a two bedroom and a full bathroom. A full kitchen with access to the garage and a shared laundry room. Boasting original hard wood floors in Unit 1. Unit 2 showcases a vaulted great room with open concept design flowing into a charming kitchen. This unit features a generously sized bedroom with an Ensuite bathroom, shared access to the laundry room, and step out to a private wooden deck in the back yard providing a serene wooded setting. Conveniently located to schools, shopping, hospital and LBL.
Looking for an lucrative investment property with 7 units under one roof? Look no further! Parking spaces are adjacent to the building and behind units D&G. This property includes basic apartment necessities of stove and refrigerator and has the potential for growth! Over half of the windows have been replaced with vinyl framed windows this year. Conveniently located to shopping, hospital and the university. Allow 48 hours for showings for tenants rights. Apartment D just remodeled with pictures & occupied.
Seize this unique multi-family housing opportunity in Calloway county! Formerly college housing, this property is ripe for conversion into student or single-person accommodations. The main building features 24 potential bedrooms, most with closets already installed! Downstairs features a full kitchen, 2 bathrooms, bedrooms & communal living/dining areas. Upstairs features additional bedrooms, two baths a kitchenette & common spaces. The rear building adds 6 more bedrooms, a kitchen, two bathrooms, and a central common area. Plus, a detached 4-bed, 3-bath house with a basement & attached garage offers flexibility to rent by room or as a whole. There is a vacant lot in between for further expansion or development. Ideal for income generation!
Murray is located in Kentucky. Murray, Kentucky has a population of 17,241. Murray is more family-centric than the surrounding county with 31.08% of the households containing married families with children. The county average for households married with children is 28.78%.
The median household income in Murray, Kentucky is $35,966. The median household income for the surrounding county is $44,534 compared to the national median of $69,021. The median age of people living in Murray is 25.6 years.
The average high temperature in July is 88.8 degrees, with an average low temperature in January of 26.9 degrees. The average rainfall is approximately 54.4 inches per year, with 6.5 inches of snow per year.
