240 Susan Dr Richmond, KY 40475
Estimated payment $3,169/month
About This Home
Excellent Investment Opportunity in Richmond—Now at a Reduced Price! 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 now offers even greater value with a recent price reduction. Strong potential for increased income remains—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 a solid rental history. With updated rents and the new, lower price, this property could deliver impressive returns in Richmond's growing rental market.
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1990
Lot Details
- 21,344 Sq Ft 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 $1,800
- Real Estate Tax Expense $2,200
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 01/20/2026 01/20/26 | Price Changed | $500,000 | -4.8% | $102 / Sq Ft |
| 11/17/2025 11/17/25 | For Sale | $525,000 | -- | $107 / Sq Ft |
Source: ImagineMLS (Bluegrass REALTORS®)
MLS Number: 25506308
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