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

$470,000
  • 5

    bed

  • 2

    bath

  • 2,136

    Sqft ($220/Sqft)

Multi-family for sale 9 hours

About 121 E Martin Luther King Jr Blvd

Property type Multi-family
Neighborhood
HOA fee $0/month
Rental estimate
Property 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.
Listed by
Listing Agent - Blaire Hancock
Listing Office - Simple Fee Realty
Source: Northern Kentucky AOR mls logo
MLS#647653 • last updated 9 hours ago
Movoto checked Northern Kentucky AOR for data 1 hour ago
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Overview
Cooling/AC Central Air
Heating Natural Gas, Forced Air
Levels/Style Two
Virtual Tour External Link
MLS # 647653
Living Area 2136, Square Feet
SubType Multi Family
Type MultiFamily
Status Active
Condition Existing Structure
Interior
Total # of Bathrooms 2
# Full Baths 2
# Bedrooms 5
Basement Partial
Laundry In Unit
Appliances Electric Range, Dishwasher, Dryer, Microwave, Refrigerator, Washer
Window Features Vinyl Clad Window(s)
Interior Features Storage, Kitchen Island, High Speed Internet, Eat-in Kitchen, Master Downstairs
Fireplace Decorative
Exterior
Foundation Stone
Roof Membrane, Shingle
Construction Vinyl Siding
Parking Desc On Street
Fencing Partial
Amenities / Utilities
Utilities Cable Available, Natural Gas Available, Sewer Available, Water Available
Sewer/ Septic Public Sewer
Water Source Public
Location
County Kenton
Area K01 - Covington North
Elementary School John G. Carlisle Elementary
Middle School Holmes Middle School
High School District Covington Indep
High School Holmes Senior High
APN 054-24-18-008.00
Zoning Residential, Multi Family
Directions I-71/75 To 12th Street Exit, E On MLK, Building On Right.
Multifamily Details
Tenant Pays Electricity, Gas, Heat, Sewer, Water
Total # of Buildings 1
Total # of Units 2
Gross Income 48700
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Source: GreatSchools.org © 2026. All rights reserved.

Around Eastside Covington

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74/100
Walk
68/100
Family
87/100
Dining
94/100
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  • Real Estate
  • KY
  • Kenton County
  • Covington
  • 41011
  • Eastside Covington
  • 121 E Martin Luther King Jr Blvd

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