Apartment Acquisitions · Richmond
Sell Your Commercial Property In Richmond, KY
From Downtown Richmond to Kingston, we buy Richmond 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
Richmond Submarkets: Downtown Richmond · Berea · Kingston · Waco — Madison County, KY
The Richmond Market
What Drives Rentals In Richmond
Richmond is home to Eastern Kentucky University, which reported 15,969 students in Fall 2025. Renters head 61.7% of Richmond households, and median gross rent was $917 in ACS 2020-2024. Owners who want to sell commercial property in Richmond, KY can use this page to see how buyers read the market: HUD rent benchmarks, a 105.4-cent combined 2025 tax rate, the state transfer tax and the landlord statutes that apply. Richmond also holds 5,190 homes in 5+ unit buildings, 79.8% of the Madison County total.
Eastern Kentucky University
EKU, based in Richmond, reported total enrollment of 15,969 students for Fall 2025, per an April 2026 university release.Blue Grass Army Depot
The Blue Grass Army Depot, datelined Richmond by the Army, covers 14,500 acres, per a 2009 Army article.Baptist Health Richmond
Baptist Health Richmond is a 105-bed hospital with 94 acute care and 11 psychiatric beds, per Baptist Health.Our Buy Box
What We Buy In Richmond
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
Richmond Apartment Market
Figures gathered October 2026 from public market data.
Who rents in Richmond
Renters head 61.7% of Richmond households, 9,385 of 15,202, per ACS 2020-2024 tenure data. Madison County's renter share is 38.0%, per the same table. Richmond has 5,190 homes in 5+ unit buildings, 31.0% of its stock and 79.8% of the Madison County total, per ACS units-in-structure data. Only 28.1% of Richmond homes predate 1980, per ACS year-built data.
Rents and affordability in Richmond
Median gross rent in Richmond was $917 a month in ACS 2020-2024, $50 below the $967 Kentucky median. In that period, 42.7% of Richmond renter households paid 30% or more of income on rent, per ACS rent burden data.
HUD's FY2027 fair market rents for Madison County took effect October 1, 2026, per HUD FMR documentation. The two-bedroom figure of $993 sits $76 above the Richmond median. Owners who plan to sell commercial property in Richmond, KY should expect buyers to test rent rolls against it.
| Unit size | HUD FY2027 FMR |
|---|---|
| Efficiency | $691 |
| One bedroom | $859 |
| Two bedroom | $993 |
| Three bedroom | $1,375 |
| Four bedroom | $1,600 |
Property taxes in Madison County
Richmond parcels in the Madison County school district carried a 2025 rate of 105.4 cents per $100, per the Kentucky 2025 Property Tax Rate Book. It sums the state's 10.6 cents, Madison County's 21.9, the school district's 61.8 and Richmond's 11.1. On a $2,000,000 assessment, that equals $21,080 a year.
Anyone who chooses to sell commercial real estate in Richmond, 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 Richmond rentals
Richmond is not among the 33 Uniform Residential Landlord and Tenant Act adopters named in a 2016 Legislative Research Commission fiscal note. Where that act is not in effect, KRS 383.195 ends a tenancy at will with one month's written notice. Since 2024, KRS 383.198 bars local landlord-tenant ordinances that conflict with state law.
What it means for a Richmond owner
Owners who sell commercial property in Richmond, KY face buyers who model the $21,080 tax example and the $993 HUD benchmark. A 4.6% rental vacancy rate, per ACS 2020-2024, supports steady occupancy.
Skyline Capital Investments buys 5+ unit apartment buildings. To sell your apartment building in Richmond, run the numbers with our cap rate calculator, then see how we buy apartment buildings directly.
Good To Know
Selling In Richmond
More about selling in Kentucky →Investing in Richmond? See apartment syndications in Richmond →
- ACS figures are 2020-2024 five-year estimates for Richmond city, Madison County and Kentucky.
- Owners who sell commercial real estate in Richmond, KY should expect buyers to model the $21,080 tax example.
- HUD fair market rents for Madison County apply from October 1, 2026, under the FY2027 schedule.
Seller Guides
Selling A Building In Richmond
Learn More
Taxes & Rules For Richmond Property
The Kentucky rules that shape any deal in Richmond: what a sale costs in tax, how buildings are taxed, what landlords must follow, and how to defer gains.
Richmond Seller FAQ
How do I sell commercial property in Richmond, 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 $993 for Madison County. They also price in the 2025 combined rate of 105.4 cents per $100.
What property tax does a Richmond apartment building pay?
Kentucky's 2025 rate book puts the combined rate for Richmond parcels in the Madison County school district at 105.4 cents per $100. That covers state, county, school and Richmond levies. A $2,000,000 assessment owes $21,080 a year.
What transfer tax applies when I sell commercial real estate in Richmond, 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 Richmond sale, that comes to $2,000. The county clerk collects it before the deed is recorded in Madison County.
How much of Richmond's housing is in apartment buildings?
Richmond has 5,190 homes in buildings with 5 or more units, 31.0% of its stock, per ACS 2020-2024. That is 79.8% of all such homes in Madison County. Owners who sell multifamily property in Richmond compete in the county's main apartment market.
What do buyers check in a Richmond apartment deal?
Buyers weigh the $917 median gross rent against HUD's $993 two-bedroom benchmark. They also note that 42.7% of Richmond renter households pay 30% or more of income on rent. Clean rent rolls and lease records make selling commercial property in Richmond faster.
What if my Richmond building has vacancies or deferred maintenance?
That is often where we add the most value. We buy buildings that need renovation, new management, or lease-up, and we account for that in our offer.
How does a sale to you work in Madison County?
Send the address, unit count, and any financials. We give feedback, then a written letter of intent if it fits, followed by diligence and a closing date that works for you.
Is it possible to sell rental property in Richmond without evicting tenants?
It is. We buy apartment buildings occupied, and tenants stay on their current leases. Skyline Capital Investments is a commercial real estate buyer of 5+ unit buildings, so occupied properties are the norm for us.
How fast can I sell my apartment building in Richmond?
Most owners get clear feedback within 48 hours of sending the address, unit count, and a rent roll. Closing is typically set around your timeline, including extra time for a 1031 exchange.
Submit A Deal
Selling A Building In Richmond?
Tell us about it. Owners, agents, brokers, and deal finders are all welcome — conversations are confidential.
