Seven-Unit Apartment
For Sale
$824,900
1642 Beechwood Ave, Louisville, KY 40204
Multi Family, Louisville, KY
Property Size3,764 SF
Price / SF$219.16
Days on Market93
Property Features for 1642 Beechwood Ave
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Rooms
Basement
Patio and Porch features
Deck, Porch
Subdivision
BARDSTOWN RD HGTS
Directions
Bardstown Road to Street
Standard status
Active
APN
075B00080000
Size
3,764 SF
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1900
Number of units
7
Building materials
Wood Frame
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Weichert Realtors - ABG
(502) 893-1900
Listed By:
William M Friel · License #57228
(502) 893-1900
Added: May 27
Changed: Aug 26
Last Checked: Aug 27 at 8:06AM
MLS# 1718599
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 3,764-square-foot apartment building contains seven units, including five one-bedroom residences and two two-bedroom residences. The 1900-built wood-frame property includes a basement, porch, and deck, with central air conditioning and natural gas heat. An asphalt roof serves the building.
The property is located directly behind Mid-City Mall in Louisville’s Highlands area. Public water and public sewer serve the asset, providing established utility infrastructure for the existing multifamily configuration.
The property is located directly behind Mid-City Mall in Louisville’s Highlands area. Public water and public sewer serve the asset, providing established utility infrastructure for the existing multifamily configuration.
Key Highlights
- Seven‑unit apartment building with five one‑bedroom units and two two‑bedroom units
- 3,764 square feet of building area
- Built in 1900 with wood‑frame construction
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
$25,616
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
3.11%
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%
$512,320
$512.3K
Cap Rate 7%
$365,943
$365.9K
Cap Rate 9%
$284,622
$284.6K
Market Conditions
NOI Build-Up for 3,764 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
$49.2K $13.08/SF
− Vacancy
−$2.7K −$0.71/SF
EGI
$46.6K $12.37/SF
− OpEx
−$21.0K −$5.57/SF
NOI
$25.6K $6.81/SF
Area
Louisville, KY
Vacancy
5.40%
Lease Rate
$13.08 /SF/Yr
Expense Ratio
45.00%
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%
$512,320
Cap Rate 7%
$365,943
Cap Rate 9%
$284,622
Alternative Uses
Best Use
Apartment 5plus
$365.9K
$320.2K – $426.9K
NOI $25,616 @ 7.0% cap · market cap 3.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$975.6K
$853.7K – $1.14M
NOI $68,294 @ 7.0% cap · market cap 8.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
1,085
Businesses Nearby
Explore this area
Business Placement
Demographics for 40204, KY
14,600
Population
8,759
Households
1.7
Avg Household Size
38
Median Age
63%
College-Educated
97%
High-School Grad
3.2 sq mi
ZIP Area
4,563
Density / Sq Mi
$70,706
Median Household Income
$50,246
Median Earnings
$1,225
Median Rent
$314,700
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 - Apartment property with mixed one- and two-bedroom units, central air, and public utilities.
Where is this apartment building located?
The property is located at 1642 Beechwood Ave Louisville, KY.
What is the asking price?
The asking price for this property is $824,900.
What are key features of this property?
This property features: Seven‑unit apartment building with five one‑bedroom units and two two‑bedroom units; 3,764 square feet of building area; Built in 1900 with wood‑frame construction
