1475 S 3rd St Louisville, KY 40208
MULTI_FAMILY - Other - Louisville, KY
- Added:
- Jun 25, 2026
- Days on Market:
- 17
- Last Refresh:
- Jul 11 at 6:06 pm
Property Features for 1475 S 3rd St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Apartment
- Bedrooms
- 10
- Bathrooms
- 1
- Rooms
- Bedroom 8, Basement, Bedroom 6, Bedroom 9, Bedroom 10, Bedroom 3, Bedroom 2, Bedroom 7, Bedroom 1, Bedroom 5, Bedroom 4, Bathroom 1
- Standard status
- Active
- APN
- 12033B00030000
- Size
- 4,786 SF
Utilities
- Sewer type
- Public Sewer
- Water source
- Public
Building Details
- Year built
- 1919
- Number of units
- 5
- Building materials
- Brick, Stone
- Roof type
- Shingle
- Architectural style
- Other
Listing agent Michael Kearns License #223250 (502) 802-6044
Listing office BERKSHIRE HATHAWAY HomeServices, Parks & Weisberg Realtors 1701 Herr Lane Ste. 100, LOUISVILLE, KY (502) 897-3321
Listing date Jun 25, 2026
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.
The property is located in Historic Old Louisville, along “Millionaire’s Row,” with stated proximity to the University of Louisville, Downtown Louisville, the Medical District, Norton Hospital, Churchill Downs, restaurants, coffee shops, parks, and entertainment.
Additional reported enhancements include insulated garage door replacement and added laundry hookups, as well as installation of new furnaces and central air systems.
Key Highlights
- Historic Old Louisville five‑unit apartment building built in 1919 with brick and stone construction
- Extensive capital improvements include newer roof, exterior painting and trim, rebuilt deck, and upgraded LED exterior lighting
- Electrical, plumbing, and numerous building system improvements completed during ownership
Local 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 | $62.6k | $13.08 |
| − Vacancy | −$3.4k | −$0.71 |
| EGI | $59.2k | $12.37 |
| − OpEx | −$26.6k | −$5.57 |
| NOI | $32.6k | $6.81 |
