328 Summit Street, Richmond, KY 40475 (MLS# 26026433)

328 Summit Street, Richmond, KY 40475

$964,900

Property Type: Residential Income Bedrooms: 15 Baths: 14 Square Footage: 4,496 Lot Size (sq. ft.): 30,056 Status: Active

Current Price: $964,900 List Date: 9/24/2026 Last Modified: 10/13/2026

Overview

Description

Exceptional investment opportunity directly adjacent to Eastern Kentucky University! 324 & 328 Summit Street offer 9 rental units across two buildings, currently generating $9,700 per month / $116,400 annually. The front building consists of 4 units, including a 6-bedroom, 5-bath residence and three 1-bedroom, 1-bath apartments. The back building consists of 5 units, including one 2-bedroom, 2-bath apartment and four 1-bedroom, 1-bath apartments. The property also features a common-area laundry room and large basement, along with individual electric water heaters and three new HVAC systems in the 328 building. Excellent opportunity to acquire a strong income-producing multifamily property in a prime Richmond location. Rent roll and financial statements are available under Documents in Flex.

Listing Details MLS# 26026433

Listing Information

Comp Sale YN: No
Property Sub Type: Apartment

Status Change Information

Status Change Timestamp: 2026-09-24

Address

County: Madison
Street Number: 328
Street Name: Summit
Street Suffix: Street
State: KY
Zip Code: 40475
Inside City Limits YN: Yes
Directions: From Lexington, take I-75 South toward Richmond. Take Exit 90A and merge onto US-25 S/US-421 S toward Richmond. Continue toward downtown Richmond/EKU, then turn onto Summit Street. 324 & 328 Summit Street will be adjacent to the EKU campus.
Parcel Number: R006-0015-0021

Contract

Original List Price: 964900
Start Showing Date: 2026-09-24
Listing Contract Date: 2026-09-24
Listing Agreement: Exclusive Right To Sell
Occupant Type: Occupied
Office Exclusive YN: No
List Price/Acre: 1398405.8
List Price/SqFt: 214.61

Tax Legal

MLS Area Major: 008 - Madison County
High School District: Madison County - 8

Interior

Bedrooms Total: 15
Bathrooms Total: 14
Bathrooms Full: 14
Living Area: 4496
Living Area Source: Public Records

More Information

Building

Year Built: 1000
Accessibility Features YN: No

Lot

Lot Size Acres: 0.69
Lot Size Square Feet: 30056.4

Utilities

Cooling YN: Yes
Heating YN: Yes

Remarks

Public Remarks: Exceptional investment opportunity directly adjacent to Eastern Kentucky University! 324 & 328 Summit Street offer 9 rental units across two buildings, currently generating $9,700 per month / $116,400 annually. The front building consists of 4 units, including a 6-bedroom, 5-bath residence and three 1-bedroom, 1-bath apartments. The back building consists of 5 units, including one 2-bedroom, 2-bath apartment and four 1-bedroom, 1-bath apartments. The property also features a common-area laundry room and large basement, along with individual electric water heaters and three new HVAC systems in the 328 building. Excellent opportunity to acquire a strong income-producing multifamily property in a prime Richmond location. Rent roll and financial statements are available under Documents in Flex.

Unit Details

Number Of Units Vacant: Yes

Showing Information

Showing Instructions: 328-2 is vacant and available for showing. Can also see the basement which has laundry facility. Lockbox is on property. Can see other units with accepted contract. Feel free to walk outside of property.