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$ 419,000
Price Dropped by $45K
4738 Camargo Levee Road Mt Sterling, KY 40353
9 Beds
9 Baths
6,000 SqFt
UPDATED:
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 6,000 sqft
Price per Sqft $69
Subdivision Camargo Heights
MLS Listing ID 26022136
Bedrooms 9
Full Baths 9
Lot Size 0.660 Acres
Acres 0.66
Property Sub-Type Apartment
Property Description
Opportunity knocks just minutes from downtown Mt. Sterling with this compelling 9-unit multifamily investment in the quiet Camargo community. This income-producing property offers immediate returns with 6 units currently leased, 2 rent-ready, and 1 unit ready for renovation, providing both stability and upside from day one. Spread across two buildings, the property has seen significant recent improvements, including 8 units updated or repaired within the past two years, new HVAC systems, and a recently installed metal roof on the 4-unit building. The larger building features 5 existing units plus a framed 6th unit with rough plumbing and electric already in place--ideal for increasing door count with minimal additional investment. Beyond the existing units, the property offers exceptional expansion potential: 32' x 40' shop with 12' ceilings and work pit--perfect for additional rental income, storage leases, or conversion to 2-3 more units RV pad with electric and plumbing, with space to add a second pad Infrastructure in place for scalability with 12 individual water meters onsite (currently operating on 2 meters), allowing for future tenant-paid utilities and improved expense control Positioned in a peaceful rural setting while remaining accessible to key demand drivers--just 46 minutes to Lexington and within reach of Morehead State University and Transylvania University--this property offers the ideal blend of current income, operational improvements, and long-term growth potential. Whether you're expanding your portfolio or entering the multifamily space, this is a rare value-add opportunity with multiple revenue streams already in motion.
Location
State KY
County Montgomery
Interior
Heating Electric, Forced Air, Heat Pump, Other
Cooling Ductless, Electric, Other
Laundry Main Level
Exterior
Utilities Available Cable Available, Electricity Available, Sewer Available, Water Available
View Y/N N
Roof Type Metal
Handicap Access No
Private Pool No
Schools
Elementary Schools Camargo
Middle Schools Mcnabb
High Schools Montgomery Co
Listed by MELIA Realty LLC
NEARBY SCHOOLS & PROPERTIES
Jason Jarstfer
Principal Broker, Principal Auctioneer, US Army Veteran | License ID: 209324