1004 Greenup St Covington, KY 41011

This exceptional investment opportunity presents a portfolio of 33 single-family rental homes located in Covington, Newport, and Dayton, Kentucky. The portfolio boasts a total of 36,356 square feet, with an average unit size of approximately 1,650 square feet. Currently operating at 100% occupancy, the portfolio generates a Net Operating Income (NOI) of $296,438, representing a 7.96% capitalization rate. A pro-forma NOI of $298,352 projects an 8.01% capitalization rate. The asking price is $3,725,000, translating to $112,879 per unit and $102.46 per square foot. The properties are strategically located within an 11-mile radius, offering convenient access to major highways I-471, I-275, and I-71/75, providing excellent connectivity to Cincinnati, Ohio. These desirable locations benefit from strong rental demand driven by a competitive housing market and significant job growth in Northern Kentucky and Cincinnati. The portfolio is currently managed by a third-party property management company. Detailed financial information is available upon request. This represents a compelling investment opportunity for both seasoned investors and those seeking a strong entry into the Northern Kentucky market. The properties are zoned residential. The average current monthly rent per unit is $1,122 (as of 2024). Approximately 40% of single-family homes in Covington are occupied by renters. A larger portfolio encompassing 55 properties and 94 units is also available for purchase.