$964,900
Richmond, KY 40475
MLS# 26026433
15 beds | 14 baths | 4496 sqft
1 / 40
Property Description
Exceptional investment opportunity directly adjacent to Eastern Kentucky University! 324 & 328 Summit Street offer 9 rental units across two buildings, currently generating $9,700 per month / $116,400 annually. The front building consists of 4 units, including a 6-bedroom, 5-bath residence and three 1-bedroom, 1-bath apartments. The back building consists of 5 units, including one 2-bedroom, 2-bath apartment and four 1-bedroom, 1-bath apartments. The property also features a common-area laundry room and large basement, along with individual electric water heaters and three new HVAC systems in the 328 building. Excellent opportunity to acquire a strong income-producing multifamily property in a prime Richmond location. Rent roll and financial statements are available under Documents in Flex.
Details
Documents
Listing Information
Comp Sale YN: No
Property Sub Type: Apartment
Address
County: Madison
Street Number: 328
Street Name: Summit
Street Suffix: Street
State: KY
Zip Code: 40475
Inside City Limits YN: Yes
Directions: From Lexington, take I-75 South toward Richmond. Take Exit 90A and merge onto US-25 S/US-421 S toward Richmond. Continue toward downtown Richmond/EKU, then turn onto Summit Street. 324 & 328 Summit Street will be adjacent to the EKU campus.
Parcel Number: R006-0015-0021
Contract
Current Price: $964,900
Original List Price: 964900
Status: Active
Start Showing Date: 2026-09-24
Listing Contract Date: 2026-09-24
List Price: $964,900
Listing Agreement: Exclusive Right To Sell
Occupant Type: Occupied
Office Exclusive YN: No
List Price/Acre: 1398405.8
List Price/SqFt: 214.61
Interior
Bedrooms Total: 15
Bathrooms Total: 14
Bathrooms Full: 14
Living Area: 4496
Living Area Source: Public Records
Building
Year Built: 1000
Accessibility Features YN: No
Lot
Lot Size Acres: 0.69
Lot Size Square Feet: 30056.4
Utilities
Cooling YN: Yes
Heating YN: Yes
Remarks
Public Remarks: Exceptional investment opportunity directly adjacent to Eastern Kentucky University! 324 & 328 Summit Street offer 9 rental units across two buildings, currently generating $9,700 per month / $116,400 annually. The front building consists of 4 units, including a 6-bedroom, 5-bath residence and three 1-bedroom, 1-bath apartments. The back building consists of 5 units, including one 2-bedroom, 2-bath apartment and four 1-bedroom, 1-bath apartments. The property also features a common-area laundry room and large basement, along with individual electric water heaters and three new HVAC systems in the 328 building. Excellent opportunity to acquire a strong income-producing multifamily property in a prime Richmond location. Rent roll and financial statements are available under Documents in Flex.
Unit Details
Number Of Units Vacant: 1
Showing Information
Showing Instructions: 328-2 is vacant and available for showing. Can also see the basement which has laundry facility. Lockbox is on property. Can see other units with accepted contract. Feel free to walk outside of property.
Status Change Information
Status Change Timestamp: 2026-09-24
Tax Legal
MLS Area Major: 008 - Madison County
High School District: Madison County - 8
Property Features
Cooling: Central Air
Heating: Forced Air
Possession: Close Of Escrow
Showing Requirements: Combination Lock Box
Summit Rent Roll 
Listing Office: Lifstyl Real Estate
Last Updated: October - 13 - 2026
Information deemed reliable but not guaranteed.