Brick Quadplex with Rear
For Sale
$675,000
119 McArthur Dr, Louisville, KY 40207
MULTI_FAMILY - Louisville, KY
Property Size3,630 SF
Lot Size0.17 Acres
Price / SF$185.95
Days on Market54
Property Features for 119 McArthur Dr
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 3, Bedroom 1, Bathroom 2, Bathroom 3, Bedroom 2, Bathroom 1, Bedroom 4, Basement
Patio and Porch features
Porch
Lot features
Sidewalk
Directions
Shelbyville Rd to McArthur Dr. Building on the right.
Subdivision
03-Clifton/Crescent Hill/St Matthews
Standard status
Active
APN
033101130026
Size
3,630 SF
Lot size
0.17 Acres
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Amenities
rear parking
basement storage
washer/dryer hookups
Building Details
Year built
1959
Number of units
4
Building materials
Brick
Roof type
Shingle
Listing Agency:
Homepage Realty
(502) 690-6685
Listed By:
Amy Kastan
(502) 609-9170
Added: Jun 17
Changed: Aug 7
Last Checked: Aug 9 at 9:06AM
MLS# 1716826
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 brick quadplex at 119 McArthur Dr includes four 1-bedroom, 1-bath units. The property features a functional layout with rear parking, basement storage, and washer/dryer hookups. Central air and forced air heating (natural gas) support comfortable year-round operation, with a shingle roof and a porch on the premises. Public water and public sewer provide the utility base for the building.
Built in 1959, the property sits on a 0.17-acre lot with a total building size of 3,630 square feet. The room inventory includes four bathrooms and four bedrooms across the four units, along with a basement.
For investors or an owner-occupant seeking on-site rental income, this 4-plex configuration provides four separate one-bedroom living spaces with practical amenities like rear parking and in-unit laundry hookups.
Built in 1959, the property sits on a 0.17-acre lot with a total building size of 3,630 square feet. The room inventory includes four bathrooms and four bedrooms across the four units, along with a basement.
For investors or an owner-occupant seeking on-site rental income, this 4-plex configuration provides four separate one-bedroom living spaces with practical amenities like rear parking and in-unit laundry hookups.
Key Highlights
- Four 1‑bedroom, 1‑bath units in a quadplex
- Rear parking plus additional basement storage
- Washer/dryer hookups
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$30,544
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.53%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$610,880
$610.9K
Cap Rate 7%
$436,343
$436.3K
Cap Rate 9%
$339,378
$339.4K
Market Conditions
NOI Build-Up for 3,630 SF
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.
Gross rent
$46.2K $12.72/SF
− Vacancy
−$2.5K −$0.70/SF
EGI
$43.6K $12.02/SF
− OpEx
−$13.1K −$3.61/SF
NOI
$30.5K $8.41/SF
Area
Louisville, KY
Vacancy
5.50%
Lease Rate
$12.72 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$610,880
Cap Rate 7%
$436,343
Cap Rate 9%
$339,378
Alternative Uses
Best Use
Multifamily LT 5
$436.3K
$381.8K – $509.1K
NOI $30,544 @ 7.0% cap · market cap 4.53%
Second Best
Apartment 5plus
$352.9K
$308.8K – $411.7K
NOI $24,704 @ 7.0% cap · market cap 3.66%
Theoretical Best
Office A
$940.9K
$823.3K – $1.10M
NOI $65,863 @ 7.0% cap · market cap 9.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,132
Businesses Nearby
Explore this area
Business Placement
Demographics for 40207, KY
30,104
Population
14,507
Households
2.1
Avg Household Size
43
Median Age
68%
College-Educated
98%
High-School Grad
11.7 sq mi
ZIP Area
2,573
Density / Sq Mi
$98,583
Median Household Income
$59,242
Median Earnings
$1,248
Median Rent
$401,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Brick quadplex built in 1959 with central air, public utilities, and rear parking for four one-bedroom units.
Where is this quadplex located?
The property is located at 119 McArthur Dr Louisville, KY.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Four 1‑bedroom, 1‑bath units in a quadplex; Rear parking plus additional basement storage; Washer/dryer hookups
