Investor Special who's looking for a Value-Add Opportunity with a Strong ARV Rare opportunity to reposition a former church (could easily be converted back to a church if desired) with substantial square footage and multiple exit strategies. This 2,250 sq ft main-level property has already been largely converted into a 4-bedroom, 1.5-bath layout, featuring a bonus room, office, and family room ??? all on one level. Laundry is conveniently located on the main floor and could easily function as a shared common area for future multi-tenant use. The property includes a separate electric meter for the upper level and a 1,250 sq ft unfinished basement, offering excellent potential to add additional bedrooms, expand living space, or convert the property into a duplex or multi-unit investment. The basement is a true blank canvas, ideal for maximizing value and rental income. Renovations on main floor have been started but not completed, allowing the next owner to customize layouts and finishes in select areas upstairs while unlocking significant upside below. HVAC infrastructure is in place with ductwork already run; the fuel oil system will need repair or replacement, but the setup appears ready for straightforward installation of new indoor and outdoor units. According to a recent appraisal, ARV exceeds $215,000.00 presenting a clear opportunity for investors seeking equity creation, BRRRR potential, or a long-term buy-and-hold. With strong bones, flexible configuration options, and substantial square footage, this property is well-suited for experienced investors or owner-occupants looking to add value. Sold as-is. Bring your vision and capitalize on this unique value-add opportunity.
Listed By
Agency Name: Keller Williams Commonwealth - Stanford
Shown By
Agency Title: SALLIE DAVIDSON, REALTORS
Agency Phone: 606-877-3000
Estimated Payment
$ 466.08 per month $431.08 Principal & Interest $0.00 Property Tax (data not provided by mls) $35.00 Homeowner's Insurance
1659 Ky-501 | MLS# 26000263
This single family home located at 1659 Ky-501, Waynesburg, KY 40489 is currently listed for sale with an asking price of $120,000. This property has 4 bedrooms and 1 full and 1 partial baths with 2250 sq. ft. Ky-501 is located in the Rural subdivision within the Lincoln County - 24 school district. Search Rural real estate on www.salliedavidson.com today.