1928 Garrard StCovington, KY 41014

This exceptional investment opportunity presents a diverse portfolio of 55 residential properties in Covington, Newport, and Dayton, Kentucky. Comprising 33 single-family homes, 11 duplexes, 7 triplexes, 2 four-plexes, and 2 five-plexes, the portfolio totals 90,762 square feet and 94 units. Currently boasting 98% occupancy, the portfolio generates a Net Operating Income (NOI) of $667,808, with a projected pro-forma NOI of $724,628, representing an 8.35% current cap rate and a projected 9.06% pro-forma cap rate. The asking price is $7,999,999, translating to $85,106.37 per unit and $88.14 per square foot. Renovated in 2024, these properties are strategically located near major highways (I-471, I-275, I-71/75), providing easy access to Cincinnati, OH. The portfolio benefits from strong rent growth driven by high demand and a competitive housing market, fueled by significant job growth in Northern Kentucky and Cincinnati's thriving logistics, manufacturing, healthcare, and technology sectors. The average unit size is 1,650 square feet, with an average monthly rent of $964 (2024). This portfolio offers a stable income stream, value-add potential through further renovations, and significant upside potential. The properties are currently managed by a third-party property management company. This is a rare opportunity to acquire a substantial, diversified real estate investment in desirable Northern Kentucky communities.