121 E Martin Luther King Jr Blvd, Covington, KY 41011

Description

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.