8-Unit Apartment
For Sale
$584,000
105 Loveless Ln, Somerset, KY 42503
Occupied apartment property with eight one-bedroom, one-bath units.
Property Size4,860 SF
Price / SF$120.16
Days on Market61
Property Features for 105 Loveless Ln
General Information
Standard status
Active
Size
4,860 SF
Property subtype
Commercial
Additional Details
Multifamily Units
8
Building Details
Year Built
1970
Listing Agency:
Weichert Realtors Ford Brothers, Inc.
Listed By:
C Matt Ford · License #200610
(606) 271-1691
Source:
Centralkyhomefinder
Added: Aug 18
Changed: Oct 15
Last Checked: Oct 16 at 9:17AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Weichert Realtors Ford Brothers, Inc.
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Investment Insights
Based on property information with market context.
This 4,860-square-foot apartment building contains eight residential units, with each floor plan offering one bedroom and one bathroom. The property is occupied and was constructed in 1970.
Located at 105 Loveless Ln in Somerset, KY 42503, the asset is configured as a multifamily property with an existing tenant base and reported cash flow. Its unit count and consistent one-bedroom, one-bathroom layout provide a straightforward operating profile for multifamily ownership.
Located at 105 Loveless Ln in Somerset, KY 42503, the asset is configured as a multifamily property with an existing tenant base and reported cash flow. Its unit count and consistent one-bedroom, one-bathroom layout provide a straightforward operating profile for multifamily ownership.
Key Highlights
- Eight‑unit apartment building
- 4,860 square feet of building area
- Each unit includes 1 bedroom and 1 bath
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.
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Occupied apartment property with eight one-bedroom, one-bath units.
Where is this apartment building located?
The property is located at 105 Loveless Ln 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: Eight‑unit apartment building; 4,860 square feet of building area; Each unit includes 1 bedroom and 1 bath
