4738 Camargo Levee Rd

Camargo KY 40353

6000 sq. ft.

28749.6 sq. ft.

Apartment

Currently for sale - view listing

Overview

Opportunity knocks just minutes from downtown Mt. Sterling with this compelling 9-unit multifamily investment in the quiet Camargo community. This income-producing property offers immediate returns with 6 units currently leased, 2 rent-ready, and 1 unit ready for renovation, providing both stability and upside from day one. Spread across two buildings, the property has seen significant recent improvements, including 8 units updated or repaired within the past two years, new HVAC systems, and a recently installed metal roof on the 4-unit building. The larger building features 5 existing units plus a framed 6th unit with rough plumbing and electric already in place—ideal for increasing door count with minimal additional investment. Beyond the existing units, the property offers exceptional expansion potential: 32' x 40' shop with 12' ceilings and work pit—perfect for additional rental income, storage leases, or conversion to 2-3 more units RV pad with electric and plumbing, with space to add a second pad Infrastructure in place for scalability with 12 individual water meters onsite (currently operating on 2 meters), allowing for future tenant-paid utilities and improved expense control Positioned in a peaceful rural setting while remaining accessible to key demand drivers—just 46 minutes to Lexington and within reach of Morehead State University and Transylvania University—this property offers the ideal blend of current income, operational improvements, and long-term growth potential. Whether you're expanding your portfolio or entering the multifamily space, this is a rare value-add opportunity with multiple revenue streams already in motion.