Skip To Content

    416/418 S Main Street

    Somerset, KY 42501
    • $1,100,000
    • STATUS: Active
    • ON SITE: 33 days
    • MLS #: 20117474
    UPDATED: 49 min ago
    $1,100,000
    • 32
      BEDS
    • 0.93
      ACRES
    • 16
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    County:

    School Ratings & Info

    Description

    They say to become rich you have to make money while you're sleeping, and multi-housing units is where it is at!!! Now is your opportunity to own this 16 unit apartment complex in downtown Somerset, KY. Not only is the downtown being revitalized, but right around the corner is the announced location for the new University of Somerset. Currently the owner only charges $700 a month and pays utilities, but with the average rent for a 2 bedroom in Somerset being between $650-$750 a month, there is a lot of room for even more earning potential, and with the University being built so close, this would be a prime location for those looking to attend the University! All 16 units are rented, with 10 of the 16 being under lease and 6 being month to month. Don't miss your opportunity to begin building, or expanding upon, your empire!

    Monthly Payment Calculator

    The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of the Lexington-Bluegrass Association of Realtors Multiple Listing Service. Real estate listings held by IDX Brokerage firms other than Vanessa Vale Team | Keller Williams Greater Lexington are marked with the IDX logo and detailed information about them includes the name of the listing IDX Brokers. Information is deemed reliable but is not guaranteed accurate by the MLS or listing broker.
    www.vanessavale.com/homes/120548698
    Print Image

    416/418 S Main Street Somerset, KY 42501

    • Price: $1,100,000
    • Status: Active
    • Updated: 49 min ago
    • MLS #: 20117474
    32
    Beds
    16
    Baths
    0
    ½ Baths
    0.93
    Acres
    Neighborhood:
    Downtown
    County:
    Pulaski
    Area:
    Pulaski County
    Property Description
    They say to become rich you have to make money while you're sleeping, and multi-housing units is where it is at!!! Now is your opportunity to own this 16 unit apartment complex in downtown Somerset, KY. Not only is the downtown being revitalized, but right around the corner is the announced location for the new University of Somerset. Currently the owner only charges $700 a month and pays utilities, but with the average rent for a 2 bedroom in Somerset being between $650-$750 a month, there is a lot of room for even more earning potential, and with the University being built so close, this would be a prime location for those looking to attend the University! All 16 units are rented, with 10 of the 16 being under lease and 6 being month to month. Don't miss your opportunity to begin building, or expanding upon, your empire!
    Exterior Features

    Parking 36 - 55 Spaces Stories Two Structure Type Apartments

    Interior Features

    Cooling Electric Heating Electric

    Property Features

    Current Zoning Commercial Intermediate School Not Applicable Number Of Vacant Units 0

    Listing provided courtesy of Timothy R Phelps of Realty World Dowell & Associates. Listing information © 2021 LBAR Multiple Listing Service. All rights reserved.
    The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of the Lexington-Bluegrass Association of Realtors Multiple Listing Service. Real estate listings held by IDX Brokerage firms other than Vanessa Vale Team | Keller Williams Greater Lexington are marked with the IDX logo and detailed information about them includes the name of the listing IDX Brokers. Information is deemed reliable but is not guaranteed accurate by the MLS or listing broker.
     
    https://bt-photos.global.ssl.fastly.net/lexington/1280_boomver_1_20117474-2.jpg https://bt-photos.global.ssl.fastly.net/lexington/1280_boomver_1_20117474-2.jpg https://bt-photos.global.ssl.fastly.net/lexington/1280_boomver_1_20117474-2.jpg
    Logo
    Vanessa Vale Team | Keller Williams Greater Lexington
    1908 Bryant Rd, STE. 250
    Lexington KY, 40509