121 E Martin Luther King Jr. Boulevard Covington, KY $ 470,000
121 E Martin Luther King Jr. Boulevard
$ 470,000
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121 E Martin Luther King Jr. Boulevard

Covington, KY, 41011
$ 470,000
Bedrooms5 Baths2.0 Sq 2,136

Monthly Estimate*

$ 3,246

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Multi-Family Home for sale in Covington, KY

for $470,000 with 5 bedrooms and 2 full baths. This home is 2,136 square feet.

Fully renovated, fully furnished duplex PLUS a second attached lot -- currently earning $48,700/year as a proven mid-term Airbnb and furnished rental, steps from downtown Covington and one mile from downtown Cincinnati. Live in one unit while the other pays your mortgage, or step into a turnkey rental business on day one. Potential for additional income with short term dynamic pricing strategy. Renovated top to bottom in 2024 (~$120K scope): new kitchens with granite counters, custom cabinets, and stainless appliances; fully rebuilt bathrooms; luxury vinyl plank throughout; new lighting, ceiling fans, and A/C condensers; updated electrical and plumbing; fresh paint inside and out; new fencing and landscaping. Two spacious units -- a 2BR/1BA (~1,033 sq ft) and a 3BR/1BA (~1,103 sq ft), 2,136 sq ft total -- each with in-unit laundry and dishwasher, and utilities separately metered by unit, giving the next owner full flexibility on lease structure. All furniture to convey with sale. Both units run as active Airbnbs with 4.8+ star ratings, and the seller offers a co-host transition so you inherit live listings and reviews -- no starting from zero. Current occupancy works in the buyer's favor: Unit 1 is leased through December 2026 (income in place at closing) and Unit 2 is available at the end of July -- move in yourself or set your own rents immediately. The property sits on a surveyed, consolidated double parcel totaling 4,450 sq ft (44.5' x 100'). Can be subdivided and sold to a developer, finished to add off-street parking, patio, or additional outdoor space for guests. Walk Score 78. Steps to Covington's restaurants, minutes to Main Strasse Village, one bridge to downtown Cincinnati jobs, 15 minutes to CVG. The tenant has been parking on the gravel to the side of the building but that's not an approved parking spot with the city.

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Multi-Family Active

Price

$ 470,000

Bedrooms

5

Full Bath

2

Property Type

Multi-Family

Taxes

$ 0

Style

Multi Family

Town/City

Covington

County/Region

Kenton

MLS | Web ID

647653

Features
General
Living Area 2136
Sewer Public Sewer
Heating Natural Gas Forced Air
Cooling Central Air
Utilities Cable Available Natural Gas Available Sewer Available Water Available
Roof Membrane Shingle
Garage Spaces 0
Construction Materials Vinyl Siding
Tenant Pays Electricity Gas Heat Sewer Water
Levels Two
Property Subtype Multi Family
Gross Income 48700
County Kenton
New Construction false
Property Type MultiFamily
Attached Garage false
Status Active
Directions I-71/75 to 12th street exit E on MLK Building on right.
High School Holmes Senior High
City Covington
Zoning Description Residential Multi Family
Number Of Units Total 2
MLS Area K01 - Covington North
Elementary School John G. Carlisle Elementary
Middle/Junior High School Holmes Middle School
Property Condition Existing Structure
MLS Area Minor K01 - Covington North
Virtual Tour https://listings.nextdoorphotos.com/vd/270063581
Structure Type Duplex
Living Area Units Square Feet
Standard Status Active
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Interior
Interior Amenities Storage Kitchen Island High Speed Internet Eat-in Kitchen Master Downstairs
Basement Partial
Total Fireplaces 2
Fireplace Features Decorative
Air Conditioning Y/N true
Heating Y/N true
Window Features Vinyl Clad Window(s)
Fireplace Y/N true
Laundry Features In Unit
Total Baths 2
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Exterior
Fencing Partial
Parking Features On Street
Water Source Public
Foundation Details Stone
Lot Dimensions of record
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* Excluded Features
List By
Simple Fee Realty

Broker

blaire.hancock1122@gmail.com

Email

Affordability Calculator

$3,246
Per Month
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Monthly Principal & Interest
$3,246
Monthly Property Taxes
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Monthly Home Insurance
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Default based on a 30-year fixed rate of 7.375% 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
0 Elementary School
0 Middle School
Holmes Senior High High School High School
Pricing History
DatePricePrice ChangeDescription
10/17/2026$470,000 Listed Price

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121 E Martin Luther King Jr. Boulevard, Covington, KY, 41011 is a Multi-Family Home for sale at $470,000 with 2,136 sqft. 121 E Martin Luther King Jr. Boulevard has 5 bedrooms and 2.0 baths. The property's zip code is 41011 which is in Covington, KY