$650,000
West Liberty, KY 41472
MLS# 1906334
Status: Closed
26300 sqft
1 / 22
Property Description
Income producing multi-housing apartment complex with 3 buildings & 1 office space, 30 apartments- 16 2 bedroom renting for $400/month & 14 1 bedroom renting for $375/month, as well as 2 picnic areas overlooking Licking River with basketball court. Currently, 1 apartment is being gutted with a rental waiting list, & complex usually stays 100% rented. 1 apartment is completely handicapped accessible including alarm system for dispatch. New roof was installed in 2012, & several apartments have been gutted and refinished. Property is currently USDA certified.
Details
Status Change Information
Price Change Timestamp: 2019-03-28T14:03:14Z
Status Change Timestamp: 2019-09-11
Purchase Contract Date: 2019-04-08
Close Date: 2019-09-11
Close Price: 650000
Buyer Financing: Cash
Address
County: Morgan
Street Number: 100
Street Name: Bellamy Court
State: KY
Zip Code: 41472
Directions: From Main Street in West Liberty, head towards 519, just out of town, and property is on the left right behind the Juniper Health Building.
Contract
Current Price: $650,000
Original List Price: 895000
Status: Closed
Start Showing Date: 2019-03-28
Listing Contract Date: 2019-03-28
Sold Price: $650,000
Listing Agreement: Exclusive Right To Sell
Office Exclusive YN: No
List Price/Acre: 447500
List Price/SqFt: 34.03
Sold Price/Acre: 325000
Sold Price/SqFt: 24.71
SP/LP: 0.73
Interior
Living Area: 26300
Parking Information
Parking Total: 55
Lot
Lot Size Acres: 2
Lot Size Square Feet: 87120.08
Utilities
Cooling YN: Yes
Heating YN: Yes
Remarks
Public Remarks: Income producing multi-housing apartment complex with 3 buildings & 1 office space, 30 apartments- 16 2 bedroom renting for $400/month & 14 1 bedroom renting for $375/month, as well as 2 picnic areas overlooking Licking River with basketball court. Currently, 1 apartment is being gutted with a rental waiting list, & complex usually stays 100% rented. 1 apartment is completely handicapped accessible including alarm system for dispatch. New roof was installed in 2012, & several apartments have been gutted and refinished. Property is currently USDA certified.
Building and Property Details
Age of Roof: 7
Office SqFt: 288
Income and Expenses
Accounting, Legal & Collections Expense: 2650
Advertising License & Permit Expense: 81
Cash Flow Before Tax: 30128
Credit and Vacancy Losses: 5300
Electric Expense: 4390
Gross Income: 181530
Gross Operating Income: 176230
Gross Scheduled Income: 132496
Insurance Expense: 5313
Less Operating Expenses: 12089
Maintenance Expense: 21130
Net Operating Income: 72000
Operating Expense: 104230
Other Income: 49034
Payroll Expense: 8000
Professional Management Expense: 13740
Real Estate Taxes: 12089
Total Annual Debt Service: 41872
Vacancy Allowance Rate: 4
Water Sewer Expense: 29975
Unit Details
Number Of Units Vacant: 1
Listing Information
Property Sub Type: Apartment
Tax Legal
MLS Area Major: 062 - Morgan County
Subdivision Name: Downtown
High School District: Morgan County - 62
Building
Year Built: 1973
Property Features
Utilities: Electricity Connected; Electricity Connected
Cooling: Electric; Heat Pump
Heating: Electric; Forced Air; Heat Pump
Parking Features: Paved
Possession: Negotiable
Roof: Shingle
Special Listing Conditions: Standard
Structure Type: Multi Family
Listing Office: Lifstyl Real Estate
Last Updated: October - 13 - 2026
Information deemed reliable but not guaranteed.