138 W Pike St Covington, KY 41011
Downtown Covington NeighborhoodEstimated payment $5,316/month
Highlights
- City View
- Corner Lot
- Stainless Steel Appliances
- Open Floorplan
- Granite Countertops
- 4-minute walk to Basil Lewis Park
About This Home
This historic mixed-use building offers the perfect combination of charm, income, and location. Currently fully leased, the trophy property is an excellent opportunity for commercial investors or work/live entrepreneurs. From W. Pike St., the 2,500+ sq ft. main level features two storefront entrances, shared by three local businesses. From Russell St., residential tenants enjoy two private parking garages and the entrance to their 2nd-level condo with over 2,500 sq ft of living space, including four bedrooms and three full baths. From either street, you're just steps away from Covington's main attractions including Hotel Covington, Braxton Brewery, and Mainstresse Village! This beautiful historic Covington building has been previously approved for short term rental license (Airbnb, VRBO, etc.) and receives great foot traffic and visibility with over 7,500 cars passing by each day! A great investment opportunity awaits at this low-maintenance, cash-flowing property.
Property Details
Home Type
- Multi-Family
Lot Details
- 3,184 Sq Ft Lot
- Lot Dimensions are 58.66x72
- Corner Lot
Parking
- 2 Car Garage
Home Design
- Brick Exterior Construction
- Concrete Perimeter Foundation
Interior Spaces
- 6,000 Sq Ft Home
- 2-Story Property
- Open Floorplan
- Fireplace
- Vinyl Clad Windows
- Pocket Doors
- Storage
- City Views
- Partial Basement
- Fire and Smoke Detector
Kitchen
- Convection Oven
- Electric Range
- Microwave
- Dishwasher
- Stainless Steel Appliances
- Granite Countertops
Bedrooms and Bathrooms
- 4 Bedrooms
- Walk-In Closet
Laundry
- Laundry in unit
- Stacked Washer and Dryer
Schools
- John G. Carlisle Elementary School
- Holmes Middle School
- Holmes Senior High School
Utilities
- Forced Air Heating and Cooling System
- 440 Volts
- 200+ Amp Service
- Cable TV Available
Listing and Financial Details
- The owner pays for sewer, water
- Assessor Parcel Number 054-21-19-008.00
Community Details
Overview
- 4 Units
Building Details
- Insurance Expense $11,316
- Trash Expense $226
- Water Sewer Expense $5,580
- Gross Income $84,900
- Net Operating Income $55,232
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $8,613 | $650,000 | $28,000 | $622,000 |
| 2024 | $8,548 | $650,000 | $28,000 | $622,000 |
| 2023 | $8,658 | $650,000 | $28,000 | $622,000 |
| 2022 | $2,998 | $198,000 | $28,000 | $170,000 |
| 2021 | $3,096 | $178,000 | $28,000 | $150,000 |
| 2020 | $3,082 | $178,000 | $28,000 | $150,000 |
| 2019 | $3,113 | $178,000 | $28,000 | $150,000 |
| 2018 | $3,171 | $178,000 | $28,000 | $150,000 |
| 2017 | $3,009 | $165,000 | $20,000 | $145,000 |
| 2015 | $3,138 | $165,000 | $20,000 | $145,000 |
| 2014 | $2,960 | $165,000 | $20,000 | $145,000 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 12/06/2025 12/06/25 | Price Changed | $875,000 | -4.4% | $146 / Sq Ft |
| 09/21/2025 09/21/25 | For Sale | $915,000 | -- | $153 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $650,000 | Ivy Pointe Title | |
| Quit Claim Deed | -- | None Available |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Closed | $520,000 | New Conventional |
Source: Northern Kentucky Multiple Listing Service
MLS Number: 636482
APN: 054-21-19-008.00
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The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of NKMLS. Real estate listings held by IDX Brokerage firms other than Ten-X are marked with the Internet Data Exchange logo or the Internet Data Exchange thumbnail logo and detailed information about them includes the name of the listing Brokers.
Listing information is deemed reliable, but not guaranteed.
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