100 Summit Drive, Mt Sterling, KY 40353 (MLS# 20118355)

100 Summit Drive, Mt Sterling, KY 40353

$1,850,000

Property Type: Residential Income Bedrooms: 2 Baths: 1 Square Footage: 29,580 Lot Size (sq. ft.): 69,260 Status: Closed

Current Price: $1,850,000 List Date: 8/27/2021 Last Modified: 1/14/2026

Overview

Description

Wonderful Investment property in the heart of Mt. Sterling located on the corner of W. Main Street and and the bypass. 35 total units, 22 renovated, 34 rented and 1 signing lease next week. Approx. 850 sq ft. 2 bedroom 1 bath units. Laundry room located next to the office. High demand rental market with very little offered available in the area. Tenants pay electric, Rental income 21,000+. Onsite property manager that will stay if property is sold.

Listing Details MLS# 20118355

Listing Information

Comp Sale YN: No
Property Sub Type: Apartment

Status Change Information

Status Change Timestamp: 2021-12-06
Purchase Contract Date: 2021-09-19
Close Date: 2021-11-08
Close Price: 1850000
Buyer Financing: Conventional
Sale Type: Arms Length Sale
Concessions Comments: No

Address

County: Montgomery
Street Number: 100
Street Name: Summit
Street Suffix: Drive
State: KY
Zip Code: 40353
Directions: located on the corner of the bypass ( KY 686) and W. Main Street. Turn onto Spring Street from KY 686, and the apartments are on the immediate left. The three buildings addresses are 100 Summit Street, 200 Summit Street, and 507 Spring Street.
Parcel Number: 01 city

Contract

Original List Price: 2400000
Start Showing Date: 2021-08-26
Listing Contract Date: 2021-08-26
Listing Agreement: Exclusive Right To Sell
Occupant Type: Tenant
Office Exclusive YN: No
List Price/Acre: 1509433.96
List Price/SqFt: 81.14
Sold Price/Acre: 1163522.01
Sold Price/SqFt: 62.54
SP/LP: 0.77

Tax Legal

MLS Area Major: 018 - Montgomery County
Subdivision Name: Downtown

Interior

Bedrooms Total: 2
Bathrooms Total: Yes
Bathrooms Full: Yes
Living Area: 29580

More Information

Parking Information

Parking Total: 55

Building

Year Built: 1975
Stories Total: 2
Accessibility Features YN: No

Lot

Lot Size Acres: 1.59
Lot Size Square Feet: 69260

Utilities

Cooling YN: Yes
Heating YN: Yes
Electricity Connected: Yes
Natural Gas Connected: Yes
Sewer Connected: Yes
Water Connected: Yes

Remarks

Public Remarks: Wonderful Investment property in the heart of Mt. Sterling located on the corner of W. Main Street and and the bypass. 35 total units, 22 renovated, 34 rented and 1 signing lease next week. Approx. 850 sq ft. 2 bedroom 1 bath units. Laundry room located next to the office. High demand rental market with very little offered available in the area. Tenants pay electric, Rental income 21,000+. Onsite property manager that will stay if property is sold.

Unit Details

Number Of Units Vacant: Yes

Showing Information

Showing Instructions: Please allow 48 hour notice for tenants. Contact Listing Agent.

Tax & Legal

High School: Montgomery Co
Tax Rate: 0.122
Zoning Description: residential

Association/Community

Number Of Buildings: 3
Number Of Units Total: 35

Association Amenities

Coin Laundry: Yes

Cooling

Electric: Yes

Heating

Natural Gas: Yes

Parking Features

On Site: Yes
Paved: Yes

Possession

Negotiable: Yes

Roof

Flat: Yes

Special Listing Conditions

Standard: Yes

Structure Type

Multi Family: Yes

Property Features

Utilities: Electricity Connected; Natural Gas Connected; Sewer Connected; Water Connected; Electricity Connected; Natural Gas Connected; Sewer Connected; Water Connected Association Amenities: Coin Laundry Cooling: Electric Heating: Natural Gas Parking Features: On Site; Paved Possession: Negotiable Roof: Flat Special Listing Conditions: Standard Structure Type: Multi Family

Listing Office: Positive Property Management

Last Updated: January - 14 - 2026

Information deemed reliable but not guaranteed.