306 Spangler Drive, Richmond, KY 40475
$850,000
Property Type:
Residential Income
Bedrooms:
15
Baths:
13
Lot Size (sq. ft.):
20,769
Status:
Closed
Current Price:
$850,000
List Date:
3/28/2025
Last Modified:
9/11/2025
Overview
Description
Listing Details MLS# 25006032
Listing Information
- Comp Sale YN
- No
Status Change Information
- Price Change Timestamp
- 2025-06-02T21:33:19Z
- Status Change Timestamp
- 2025-08-11
- Purchase Contract Date
- 2025-06-19
- Close Date
- 2025-08-11
- Close Price
- 850000
- Buyer Financing
- Conventional
- Sale Type
- Arms Length Sale
- Concessions Comments
- None
Address
- County
- Madison
- Street Number
- 306
- Street Name
- Spangler
- Street Suffix
- Drive
- State
- KY
- Zip Code
- 40475
- Directions
- Exit 87 Left on Bypass towards EKU. Right on Spangler
- Parcel Number
- R002-0013-0007-B
Contract
- Original List Price
- 975000
- Start Showing Date
- 2025-03-28
- Listing Contract Date
- 2025-03-28
- Listing Agreement
- Exclusive Right To Sell
- Occupant Type
- Tenant
- Office Exclusive YN
- No
- List Price/Acre
- 1877097.32
- Sold Price/Acre
- 1782718.12
- SP/LP
- 0.95
Tax Legal
- MLS Area Major
- 008 - Madison County
- Subdivision Name
- Commercial
- High School District
- Madison County - 8
Interior
- Bedrooms Total
- 15
- Bathrooms Total
- 13
- Bathrooms Full
- 8
- Bathrooms Half
- 5
More Information
Parking Information
- Parking Total
- 20
Building
- Year Built
- 9999
- Stories Total
- 2
Lot
- Lot Size Acres
- 0.4768
- Lot Size Square Feet
- 20769
Remarks
- Public Remarks
- Exceptional Investment Opportunity! Discover this 8-plex nestled in one of Richmond's most sought-after areas, offering unmatched convenience for tenants. Just minutes from Eastern Kentucky University, Baptist Health, vibrant downtown Richmond, and with swift access to I-75, this location ensures high demand year-round. The complex features a versatile mix of units: • 5 spacious 2-bedroom, 1.5-bath units • 2 charming 2-bedroom, 1-bath units • 1 cozy 1-bedroom, 1-bath unit Boasting a proven rental history and generating a robust $6,975 in monthly rental income, this property is a must-have addition to any investor's portfolio. Recent upgrades, including a new roof shingles and three beautifully remodeled units, enhance its appeal and ensure minimal upkeep. Step into a thriving market with this turn-key gem—a rare chance to capitalize on Richmond's ever-growing rental demand. Opportunities like this don't last long!
Income and Expenses
- Gross Income
- 6975
Unit Details
- Number Of Units Vacant
- 2
Showing Information
- Showing Instructions
- Contact Victor Espinosa to schedule showings. 859.509.1288
Tax & Legal
- Elementary School
- Kirksville
- Middle Or Junior School
- Madison Mid
- High School
- Madison Central
- Tax Rate
- 0.0107
- Zoning Description
- B-3
Association/Community
- Number Of Buildings
- 1
- Number Of Units Total
- 8
Utilities
- Electricity Connected
- Yes
- Sewer Connected
- Yes
- Water Connected
- Yes
Possession
- Close Of Escrow
- Yes
Roof
- Shingle
- Yes
Structure Type
- Other
- Yes
Property Features
Utilities:
Electricity Connected; Sewer Connected; Water Connected; Electricity Connected; Sewer Connected; Water Connected
Possession:
Close Of Escrow
Roof:
Shingle
Structure Type:
Other
Listing Office:
RE/MAX Creative Realty
Last Updated: September - 11 - 2025
Information deemed reliable but not guaranteed.