1014 Schiller Ave, Louisville, KY 40204
MULTI_FAMILY - Louisville, KY
- Added:
- Apr 20, 2026
- Days on Market:
- 64
- Last Refresh:
- Jun 22 at 2:06 am
Property Features for 1014 Schiller Ave
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 5
- Bathrooms
- 3
- Rooms
- Bedroom 3, Bedroom 5, Bathroom 1, Bedroom 4, Bedroom 1, Bathroom 3, Bedroom 2, Bathroom 2
- Standard status
- Active
- APN
- 09022J00840000
- Size
- 2,311 SF
- Lot size
- 0.09 Acres
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air, Natural Gas
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1900
- Number of units
- 3
- Building materials
- Vinyl Siding, Wood Frame, Brick Veneer
- Roof type
- Shingle
Listing agent Mollie Younger Noe (502) 727-9548
Listing office EXP Realty LLC 2303 Hurstbourne Vlg Dr. #300, Prospect, KY (888) 624-6448
Listing date Apr 20, 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.
HighLights
- 3‑plex with three separately metered units and historic charm
- In‑unit laundry in every unit
- Newer roof plus HVAC updates in the longest‑standing apartment
- Two updated units within the past 10 years are recently vacant and freshly painted
- Forced‑air natural gas heating and central air cooling; shingle roof; vinyl siding, wood frame, and brick veneer
- Projected market rents of $1,200–$1,350 per unit and estimated value range of $440,000–$500,000+ (per provided remarks)
Overview
The property is located in Germantown on a commercial corner, and the zoning is described as leaving options. The same owner has held the property for over 20 years. The surrounding area is noted for nearby restaurants, coffee shops, and local hotspots, and the remarks also reference a successful short-term rental neighbor. Access and visibility are supported by the corner positioning.
For tenants, the setup supports independent billing with laundry convenience in each unit. For buyers or operators, the property’s separately metered configuration and recent vacancy provide flexibility for placing tenants, selling vacant, or using an owner-occupied approach. The listing also notes use potential including mixed-use, short-term rentals, or redevelopment into modern urban row-style townhomes, subject to applicable approvals.
Local Financial Insights For Mixed Use
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 | $49.9k | $21.60 |
| − Vacancy | −$6.0k | −$2.59 |
| EGI | $43.9k | $19.01 |
| − OpEx | −$16.5k | −$7.13 |
| NOI | $27.5k | $11.88 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Louisville
- County
- Jefferson
- State
- Kentucky
- Longitude
- -85.731901
- Latitude
- 38.234682
