Riverside 25

NKYRiverside 25 offers investors a compelling combination of current multifamily income and future development potential in Burlington, Kentucky, within the Northern Kentucky/Greater Cincinnati market. Offered at $1,200,000, the property consists of 24 existing multifamily units situated on approximately 8 acres, with additional land available for future development included in the asking price. Based on 2025 NOI of approximately $85,635, the existing operation produces a going-in cap rate of approximately 7.14%. The asking price equates to approximately $50,000 per existing unit before assigning any separate value to the additional development potential. The property consists of eight buildings: six residential rental buildings containing the 24 units and two maintenance buildings supporting property operations. Riverside 25 historically maintains approximately 95% occupancy, providing an established income stream while a new owner evaluates the property's future development opportunities. Significant capital improvements have already been completed. All buildings have new roofs, and 21 of the 24 units have been turned, substantially reducing near-term renovation requirements. All utilities are currently included in rent, creating another potential avenue for an investor to evaluate rental rates, utility expenses, and operational efficiencies as part of a long-term value-add strategy.