Archive: MULTI PROPERTY REAL ESTATE AUCTION
Conducted: December 14, 2016 12:01 pm
Location: Will be sold via pictorial presentation from
Marriott RiverCenter
10 West RiverCenter Blvd.
Covington, KY 41011
Highlights:
(4) Covington, KY Multifamily Properties
Notes:
811 Greenup St. – This 12 unit property contains (5) 2 bedroom/1 bath units and (6) 1 bedroom/1 bath units. Currently 92% occupied and generating $71,000 per year in gross income. Each unit has individual furnaces, equipped kitchens, and separate meters. The roof was replaced in 2009 with a rubber membrane system. Kenton County PVA denotes as PID #054-23-15-010.00 with an assessed value of $288,000. Current County taxes are approximately $4,408/year and Covington City taxes are approximately $902/year. Interior Preview: December 7 (11AM – 12:30PM). This will be the only date/time for interior preview due to the tenant’s rights.

1528 Greenup St. – This is a 6 family consisting of (4) 2 bedroom/1 bath and (2) 1 bedroom/ 1 bath units. Each unit is equipped w/ stove and refrigerator. There are 4 furnaces in the basement and owner pays all utilities. It is currently 80% occupied and is generating $31,850 in gross annual income. Kenton County PVA denotes it as PID # 055-13-17-010.00 with an assessed value of $143,500. Current County taxes are approximately $2,227/year and Covington City taxes are approximately $450/year. Interior Preview: December 7 (11AM – 12:30PM). This will be the only date/time for interior preview due to the tenant’s rights.

10-16 W. 10th St – This 6 family split brick building contains (2) 2 bedroom/1 bath units and (4) 1 bedroom/1 bath units. Each unit has equipped kitchens, individual furnaces, and separate meters. It is currently 100% occupied and generates $33,000 in gross annual revenue. Kenton County PVA denotes it as PID # 054-24-01-013.00 with an assessed value of $143,500. Current County taxes are approximately $2,227/year and Covington City taxes are approximately $450/year. Interior Preview: December 7 (1:30PM – 2:30PM). This will be the only date/time for interior preview due to the tenant’s rights.

903-905 Lewis St. – This is an 8 family with (2) 2 bedroom/1 bath and (6) 1 bedroom/1 bath units. The building units have equipped kitchens and are heated by 3 furnaces (2 in 903 Lewis & 1 in 905 Lewis). Owner currently pays all utilities although there are separate meters. It is currently 100% occupied and generates $54,000 in gross annual income. Kenton County PVA denotes it as PID # 040-44-02-005.00 with an assessed value of $135,000. Current County taxes are approximately $2,098/year and Covington City taxes are approximately $423/year. Interior Preview: December 7 (1:30PM – 2:30PM). This will be the only date/time for interior preview due to the tenant’s rights.

The properties will be offered under our Infinity Bidding System which allows for individual property purchase and in bidder selected combinations – Purchase any single property, any combination of properties, or all the properties.

PROPERTY INFORMATION PACKET


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811 Greenup St.
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1528 Greenup St.
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10-16 W. 10th St
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903-905 Lewis St.


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