$525,000

240 Susan Dr Richmond, KY 40475

Estimated payment $3,292/month

Total Views 189
12 Beds
5 Baths
4,920 Sq Ft
$107 Price per Sq Ft

About This Home

Excellent Investment Opportunity in Richmond! This 5-Unit Apartment Building (Three 2BR, 1BA Units and Two 3BR, 1BA Units. Four Units Have Their Own Detached Storage Unit) at 240 Susan Drive Offers Strong Potential for Increased Income ? Current Leases are Under Market Value, Presenting an Immediate Value-Add Opportunity for Savvy Investors. Conveniently Located Near Shopping, Dining, and Eastern Kentucky University, this Well-Maintained Property Provides Consistent Occupancy and Solid Rental History. With Updated Rents, this Property Could Deliver Impressive Returns in Richmond's Growing Rental Market.

Listing Agent

Tom D. Thomas

The Real Estate Co. License #217580 Listed on: 11/17/2025

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1990

Lot Details

  • 0.49 Acre Lot

Home Design

  • Shingle Roof

Interior Spaces

  • 4,920 Sq Ft Home
  • 3-Story Property
  • Washer and Electric Dryer Hookup

Bedrooms and Bathrooms

  • 12 Bedrooms
  • 5 Full Bathrooms

Parking

  • 9 Parking Spaces
  • Paved Parking
  • Open Parking

Schools

  • Glenn Marshall Elementary School
  • Michael Caudill Middle School
  • Madison Central High School

Utilities

  • Forced Air Heating and Cooling System
  • Air Source Heat Pump
  • Heating System Uses Natural Gas
  • Natural Gas Connected
  • Fuel Tank Located in Ground
  • Sewer Not Available
  • Phone Available
  • Cable TV Available

Listing and Financial Details

  • Assessor Parcel Number 054A-0002-0016

Community Details

Overview

  • 5 Units
  • Hillcrest Subdivision

Building Details

  • 3 Vacant Units
  • Electric Expense $25
  • Utility Expense $25
  • Trash Expense $175
  • Water Sewer Expense $180,018
  • Real Estate Tax Expense $2,200

Property Details

Home Type

Multi-Family

Year Built

Built in 1990

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub-Type: Apartment
  • Structure Type: Multi Family
  • Year Built: 1990
  • Laundry Features:Washer Hookup: Yes
  • Laundry Features:Electric Dryer Hookup: Yes
  • Roof:Shingle: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 3

Interior Features

  • Full Bathrooms: 5
  • Total Bathrooms: 5
  • Total Bedrooms: 12
  • LivingArea: 4920.0
  • Lot Size Area: 0.49
  • Total Stories: 3

Exterior Features

  • Roof: Shingle
  • List Price: 525000.0

Garage/Parking

  • Attached Garage: No
  • Parking Features: On Site, Open, Paved
  • Total Parking Spaces: 9.0

Utilities

  • Heating: Electric, Forced Air, Heat Pump, Natural Gas
  • Cooling: Central Air, Electric, Heat Pump
  • Cooling: Yes
  • Heating: Yes
  • Laundry Features: Electric Dryer Hookup, Washer Hookup
  • Utilities: Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Not Available, Water Connected
  • Heating:Forced Air: Yes
  • Heating:Heat Pump2: Yes

Fee Information

  • Trash Expense: 175.0
  • Water Sewer Expenses: 180018.0

Schools

  • Elementary School: Glenn Marshall
  • High School: Madison Central
  • Middle or Junior School: Michael Caudill

Lot Info

  • Lot Size Acres: 0.49
  • Lot Size Sq Ft: 21344.4
  • Parcel Number: 054A-0002-0016

Multi Family

  • Electric Expense: 25.0
  • Number of Units in Community: 5
  • Number of Units Total: 5
  • Number of Units Vacant: 3

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
11/17/2025 11/17/25 For Sale $525,000 -- $107 / Sq Ft
Source: ImagineMLS (Bluegrass REALTORS®)

Source: ImagineMLS (Bluegrass REALTORS®)

MLS Number: 25506308

ImagineMLS (Bluegrass REALTORS®)
Kentucky Madison County Richmond 40475

240 Susan Dr, Richmond, KY

For Sale

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Tom D. Thomas
Listing Agent
Tom D. Thomas
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The Real Estate Co.
(859) 646-2939