Covington Multifamily Buyer
Sell Your Commercial Property In Covington, KY
From MainStrasse Village to Park Hills, we buy Covington multifamily and commercial apartment properties of 5+ units in every condition. Owners and agents get a straight answer on fit, usually within two business days.
- Clear feedback on your deal, typically within 48 hours
- 5 to 100+ units, stabilized or distressed, listed or off-market
- Owners, agents, and brokers welcome — every conversation is confidential
We buy:Tired landlordsEstate & trust sales1031 exchangesDeferred maintenanceHigh vacancyPartnership splits
Neighborhoods & Nearby Towns: MainStrasse Village · Latonia · Park Hills · Newport — Kenton County, KY
Market Snapshot
Renter Demand In Covington
Covington, in Kenton County, had 41,110 residents in ACS 2020-2024, and 48.2% of its households rent. Median gross rent was $1,006 a month.
Owners who want to sell commercial property in Covington, KY meet buyers who price rents, taxes and older stock first. HUD's FY2027 two-bedroom fair market rent is $1,442, and the 2025 tax rate in the Covington Independent district is 161.2 cents per $100.
Each figure below links to an official source, for owners ready to sell multifamily property in Covington.
Jobs outside Kentucky
In ACS 2020-2024, 5,553 of 21,010 Covington workers, or 26.4%, worked outside Kentucky.St. Elizabeth Healthcare
St. Elizabeth Healthcare lists Covington among its six facilities across Northern Kentucky and Southeastern Indiana.Fidelity Investments
Kentucky's economic development cabinet said in July 2021 that nearly 4,700 people worked for Fidelity in the Covington area.Our Buy Box
What We Buy In Covington
Asset Type
Multifamily, 5+ Units
Apartment buildings and income-producing residential.
Size
5 – 100+ Units
Sweet spot: 15–25 units.
Condition
Stabilized To Distressed
Value-add, mismanaged, and high-vacancy properties welcome.
Deal Types
Listed Or Off-Market
Direct-to-owner, pocket listings, portfolios.
Local Market Data
Covington Apartment Market
Figures gathered October 2026 from public market data.
Who rents in Covington
Renters head 48.2% of Covington households, 8,801 of 18,265, per ACS 2020-2024 tenure data. That equals 44.7% of Kenton County renter households. Covington has 5,135 homes in 5+ unit buildings, 24.4% of its stock, per ACS units-in-structure data. Some 74.8% of Covington homes predate 1980, per ACS year-built data.
Rents and affordability in Covington
Median gross rent in Covington was $1,006 a month in ACS 2020-2024, against $967 for Kentucky. In that period, 45.7% of Covington renter households paid 30% or more of income on rent, per ACS rent burden data.
HUD's FY2027 metro-level fair market rents for the Cincinnati, OH-KY-IN area took effect October 1, 2026, per HUD FMR documentation. The two-bedroom figure of $1,442 sits $436 above the Covington median. Owners who plan to sell commercial property in Covington, KY should expect buyers to test rent rolls against it.
| Unit size | HUD FY2027 FMR |
|---|---|
| Efficiency | $1,052 |
| One bedroom | $1,128 |
| Two bedroom | $1,442 |
| Three bedroom | $1,897 |
| Four bedroom | $2,141 |
Property taxes in Kenton County
Covington parcels in the Covington Independent school district carried a 2025 rate of 161.2 cents per $100, per the Kentucky 2025 Property Tax Rate Book. It sums the state's 10.6 cents, Kenton County's 26.8, the district's 95.1 and Covington's 28.7. On a $2,000,000 assessment, that equals $32,240 a year.
Anyone who chooses to sell commercial real estate in Covington, KY also owes the KRS 142.050 transfer tax: $2,000 on a $2,000,000 sale. Under KRS 133.045, the tax roll opens for 13 days from the first Monday in May.
Landlord rules for Covington rentals
Covington is one of 33 cities listed as Uniform Residential Landlord and Tenant Act adopters in a 2016 Legislative Research Commission fiscal note. Under KRS 383.660, unpaid rent allows termination after a 7-day written notice. KRS 383.695 sets 30 days' notice for month-to-month tenancies, and KRS 383.580 requires deposits in a separate account.
Covington requires a rental dwelling license with an inspection, at $30 to $150 per parcel every three years, per the City of Covington.
What it means for a Covington owner
Owners who sell commercial property in Covington, KY face buyers who model the $32,240 tax example and the $1,442 HUD benchmark. A current rental license and clean deposit records shorten due diligence.
Skyline Capital Investments buys 5+ unit apartment buildings. To sell your apartment building in Covington, run the numbers with our cap rate calculator, then see how we buy apartment buildings directly.
Seller Notes
Selling In Covington
More about selling in Kentucky →Investing in Covington? See apartment syndications in Covington →
- ACS figures are 2020-2024 five-year estimates for Covington city, Kenton County and Kentucky.
- Owners who sell commercial real estate in Covington, KY should expect buyers to model the $32,240 tax example.
- HUD fair market rents for the Cincinnati, OH-KY-IN area apply from October 1, 2026.
Seller Guides
Covington Seller Situations
Learn More
Taxes & Rules For Covington Property
The Kentucky rules that shape any deal in Covington: what a sale costs in tax, how buildings are taxed, what landlords must follow, and how to defer gains.
Covington Seller FAQ
How do I sell commercial property in Covington, KY?
An owner can list with a broker or sell directly to a buyer of 5+ unit buildings. Buyers compare rents with HUD's FY2027 two-bedroom fair market rent of $1,442. They also price in the 2025 Covington Independent district rate of 161.2 cents per $100.
What property tax does a Covington apartment building pay?
Kentucky's 2025 rate book puts the combined rate in the Covington Independent district at 161.2 cents per $100. That covers state, Kenton County, school district and Covington levies. A $2,000,000 assessment owes $32,240 a year.
What transfer tax applies when I sell commercial real estate in Covington, KY?
Kentucky taxes the grantor named in the deed at 50 cents per $500 of value under KRS 142.050. On a $2,000,000 Covington sale, that comes to $2,000. The tax applies when the deed is offered for record in Kenton County.
Does Covington require a rental license?
Yes. Covington requires a rental dwelling license with an inspection, at $30 to $150 per parcel every three years. Fines run $250 for a first offense, $500 for a second and $750 for a third, per the City of Covington.
What do buyers check in a Covington apartment deal?
Covington has 5,135 homes in 5+ unit buildings, and its median home was built in 1947, per ACS 2020-2024. Buyers weigh the $1,006 median rent against HUD's $1,442 two-bedroom benchmark. Clean rent rolls make selling commercial property in Covington faster.
Do I need to fix up my Covington building before selling?
No. We price in deferred maintenance, vacancy, and below-market rents ourselves, so you can sell the property as it stands.
Do you work with Covington brokers and agents?
We do. Agents can bring us listed or pocket-listing deals in Covington, and we keep every conversation confidential.
Who buys occupied rental property in Covington?
We do. Skyline Capital Investments is a commercial real estate buyer of 5+ unit multifamily, and we buy apartment buildings with tenants in place, including properties with below-market rents.
What do I need to sell my apartment building in Covington?
An address and unit count are enough to start. A current rent roll and trailing twelve-month statement let us move to a written offer faster.
Submit A Deal
Get An Offer Review In Covington
Share the basics below and we will follow up directly. Agents and brokers representing Covington sellers are welcome.
