240 Susan Drive Richmond, KY $ 500,000
240 Susan Drive
$ 500,000
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240 Susan Drive

Richmond, KY, 40475
$ 500,000
Bedrooms12 Baths5.0 Sq 4,920

Monthly Estimate*

$ 3,079

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Multi-Family Home for sale in Richmond, KY

for $500,000 with 12 bedrooms and 5 full baths. This 4,920 square foot home was built in 1990 on a lot size of 0.49.

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.

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Multi-Family Active

Price

$ 500,000

Bedrooms

12

Full Bath

5

Property Type

Multi-Family

Taxes

$ 0

Style

Apartment

Lot Size

0.49

Year Built

1990

Town/City

Richmond

County/Region

Madison

MLS | Web ID

25506308

Features
General
Heating Electric Forced Air Heat Pump Natural Gas
Cooling Central Air Electric Heat Pump
Utilities Cable Available Electricity Connected Natural Gas Connected Phone Available Sewer Not Available Water Connected
Possession Close Of Escrow Negotiable Subject To Tenant Rights
Roof Shingle
Zoning Other
Year Built 1990
Property Subtype Apartment
Parcel Number 054A-0002-0016
County Madison
New Construction N
Property Type Residential Income
Attached Garage N
Subdivision Name Hillcrest
Full Baths 5
Status Active
Directions From Old Wilderness Trail Turn Left Onto Gilbert Drive Turn Right Onto Pleasure Drive Turn Left Onto Dee Dee Drive Turn Left Onto Susan Drive 240 Susan Drive is Last Building On the Left.
High School Madison Central
City Richmond
High School District Madison County - 8
Number Of Units Total 5
MLS Area 008 - Madison County
Lot Size Units Acres
Lot Size Square Feet 21344.4
Elementary School Glenn Marshall
Land Lease Y/N N
Electric Expense 25.0
Middle/Junior High School Michael Caudill
Trash Expense 175.0
Water Sewer Expense 1800.0
MLS Area Minor 008 - Madison County
Lease Considered Y/N N
Rent Control Y/N N
Structure Type Multi Family
Standard Status Active
Senior Community None
Water Body Access Y/N None
Accessibility Features Y/N None
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Exterior
Parking Features On Site Open Paved
Total Parking 9.0
Lot Size Area 0.49
Number of Buildings 1
Building Area Total 4920.0
Lot Size Acres 0.49
Crops Included Y/N N
Irrigation Water Rights Y/N N
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Interior
Total Stories 3
Air Conditioning Y/N Y
Heating Y/N Y
Half Baths 0
Laundry Features Electric Dryer Hookup Washer Hookup
Total Bedrooms 12
Total Baths 5
Heating-Heat Pump True
Heating-Forced Air True
Heating-Natural Gas True
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Internal Only
Street Number 1 240
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* Excluded Features
List By
The Real Estate Co.

Broker

Affordability Calculator

$3,079
Per Month
100%
0%
0%
Monthly Principal & Interest
$3,079
Monthly Property Taxes
--
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
3289566 Elementary School
3292816 Middle School
Madison Central High School High School
Pricing History
DatePricePrice ChangeDescription
1/20/2026$500,000 -4.76% Price Down
11/17/2025$525,000 Listed Price

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240 Susan Drive, Richmond, KY, 40475 is a Multi-Family Home for sale at $500,000 with 4,920 sqft and a lot size of 0.49. 240 Susan Drive has 12 bedrooms, 5.0 baths, and was built in 1990. The property's zip code is 40475 which is in Richmond, KY