Louisville High Rise Multifamily
For Sale
$1,000,000
1136 S 3rd St, Louisville, KY 40203
MULTI_FAMILY - High Rise - Louisville, KY
Property Size11,174 SF
Price / SF$89.49
Days on Market73
Property Features for 1136 S 3rd St
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Rooms
Basement
Subdivision
OLD LOUISVILLE
Directions
3rd St between E St Catherine and Oak
Standard status
Active
APN
08029K00980000
Size
11,174 SF
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Electric (Heating)
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1927
Number of units
14
Building materials
Brick
Architectural style
High Rise
Additional Structures
Outbuilding
Listing Agency:
United Real Estate Louisville
(502) 509-4498
Listed By:
Vijay Addala · License #265343
(302) 897-9899
Added: May 20
Changed: Jul 30
Last Checked: Jul 31 at 8:06AM
MLS# 1717886
Copyright © 2026 Greater Louisville Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multifamily high rise property is located in Louisville, Kentucky. The property has a size of approximately 11174 square feet. Intended use includes apartment buildings and residential income properties. The square footage is approximate and should be verified by the buyer.
Key Highlights
- Brick construction
- Heating includes electric and natural gas
- Cooling via window and wall/window units
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $146.2k | $13.08 |
| − Vacancy | −$7.9k | −$0.71 |
| EGI | $138.3k | $12.37 |
| − OpEx | −$62.2k | −$5.57 |
| NOI | $76.0k | $6.81 |
11,174 SF · lease $13.08/SF/yr · vacancy 5.40% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.09M
$950.6K – $1.27M
NOI $76,045 @ 7.0% cap · market cap 7.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.90M
$2.53M – $3.38M
NOI $202,741 @ 7.0% cap · market cap 20.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,727
Businesses Nearby
Explore this area
Business Placement
Demographics for 40203, KY
16,801
Population
10,754
Households
1.6
Avg Household Size
37
Median Age
22%
College-Educated
86%
High-School Grad
2.9 sq mi
ZIP Area
5,793
Density / Sq Mi
$31,430
Median Household Income
$32,581
Median Earnings
$828
Median Rent
$179,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily high rise property for sale in Louisville, Kentucky.
Where is this apartment building located?
The property is located at 1136 S 3rd St Louisville, KY.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Brick construction; Heating includes electric and natural gas; Cooling via window and wall/window units
