8-Unit Apartment
For Sale
$584,000
105 Loveless Lane, Somerset, KY 42503
Commercial Sale, Somerset, KY
Property Size4,860 SF
Lot Size0.84 Acres
Price / SF$120.16
Days on Market50
Property Features for 105 Loveless Lane
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
8
Full bathrooms
8
Rooms
Bathroom 4, Bathroom 7, Bathroom 3, Bathroom 2, Bathroom 8, Bathroom 6, Bathroom 1, Bathroom 5
Subdivision
Somerset City
Directions
From Hwy 27, head east on Hwy 80. Turn left on Hwy 1247, then make a left onto Elliott St, then make a right onto Loveless Lane. The property is at the end of the road.
Standard status
Active
APN
060-6-1-28
Size
4,860 SF
Lot size
0.84 Acres
Utilities
Utilities
Phone Available
Heating system
Electric (Heating)
Cooling system
Electric
Building Details
Year built
1970
Floors in Building
2
Listing Agency:
Weichert Realtors Ford Brothers, Inc.
(606) 679-2656
Listed By:
C Matt Ford · License #200610
(606) 271-1691
Added: Aug 19
Changed: Oct 2
Last Checked: Oct 7 at 6:06PM
MLS# 26022512
Copyright © 2026 ImagineMLS. 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 8-unit apartment building contains 4,860 square feet on a 0.839-acre parcel. The unit mix consists of eight one-bedroom, one-bath apartments, and the property is currently occupied. Built in 1970, the building uses electric heating and electric cooling.
Located at 105 Loveless Lane in Somerset, Kentucky, the property also has phone service available. The site offers a compact multifamily configuration with separate residential units and eight bathrooms.
Located at 105 Loveless Lane in Somerset, Kentucky, the property also has phone service available. The site offers a compact multifamily configuration with separate residential units and eight bathrooms.
Key Highlights
- 8‑unit apartment building with eight 1‑bedroom, 1‑bath units
- 4,860 square feet on 0.839 acres
- Currently occupied property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,014
Cap Rate
5.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$660,280
$660.3K
Cap Rate 7%
$471,629
$471.6K
Cap Rate 9%
$366,822
$366.8K
Market Conditions
NOI Build-Up for 4,860 SF
Gross rent
$63.0K $12.96/SF
− Vacancy
−$3.0K −$0.61/SF
EGI
$60.0K $12.35/SF
− OpEx
−$27.0K −$5.56/SF
NOI
$33.0K $6.79/SF
Area
Pulaski County, KY
Vacancy
4.70%
Lease Rate
$12.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$660,280
Cap Rate 7%
$471,629
Cap Rate 9%
$366,822
Alternative Uses
Best Use
Apartment 5plus
$471.6K
$412.7K – $550.2K
NOI $33,014 @ 7.0% cap · market cap 5.65%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$828.0K
$724.5K – $966.0K
NOI $57,958 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
357
Businesses Nearby
Explore this area
Business Placement
Demographics for 42503, KY
24,670
Population
11,588
Households
2.1
Avg Household Size
42
Median Age
23%
College-Educated
85%
High-School Grad
129.5 sq mi
ZIP Area
191
Density / Sq Mi
$53,377
Median Household Income
$35,319
Median Earnings
$873
Median Rent
$198,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Occupied apartment property with eight one-bedroom, one-bath residences and electric heating and cooling.
Where is this apartment building located?
The property is located at 105 Loveless Lane Somerset, KY.
What is the asking price?
The asking price for this property is $584,000.
What are key features of this property?
This property features: 8‑unit apartment building with eight 1‑bedroom, 1‑bath units; 4,860 square feet on 0.839 acres; Currently occupied property
