12-Unit Apartment
New
For Sale
$1,080,000
110 W Oak St, Louisville, KY 40203
Four residential buildings provide a mix of one- and two-bedroom apartments with on-site laundry.
Property Size12,356 SF
Price / SF$87.41
Days on Market2
Property Features for 110 W Oak St
General Information
Standard status
Active
Size
12,356 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 2BR/1BA, 8 x 1BR/1BA
Multifamily Units
12
Additional Details
Utilities to Site
Yes
Sprinkler System
Yes
Amenities
on-site laundry
Building Details
Year Built
1900
Buildings
4
Stories
3
Listing Agency:
Kentucky Choice Realty, LLC
Listed By:
Key Associates Signature Realty
(812) 686-3268
Source:
Keyassociates
Added: Sep 26
Last Checked: Sep 26 at 4:40AM
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 Kentucky Choice Realty, LLC
Investment Insights
Based on property information with market context.
This four-building apartment property contains 12 units: eight one-bedroom, one-bath apartments and four two-bedroom, one-bath apartments. The buildings were constructed in 1900 and have received renovations, including a replacement roof and new mini-split systems. Apartments have sprinkler systems, and coin-operated laundry is provided on-site. Units are separately metered for LG&E. First- and second-floor units have dedicated HVAC systems; third-floor apartments use mini-splits.
The offering encompasses 110, 112, 114 and 116 Oak Street in Louisville, near the University of Louisville and Downtown Louisville.
The offering encompasses 110, 112, 114 and 116 Oak Street in Louisville, near the University of Louisville and Downtown Louisville.
Key Highlights
- 12 apartments: eight 1‑bedroom/1‑bath units and four 2‑bedroom/1‑bath units
- Four‑building property at 110, 112, 114 and 116 Oak Street
- Built in 1900; renovations include a replacement roof and new mini‑split systems
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
$84,089
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
7.79%
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%
$1,681,780
$1.7M
Cap Rate 7%
$1,201,271
$1.2M
Cap Rate 9%
$934,322
$934.3K
Market Conditions
NOI Build-Up for 12,356 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
$161.6K $13.08/SF
− Vacancy
−$8.7K −$0.71/SF
EGI
$152.9K $12.37/SF
− OpEx
−$68.8K −$5.57/SF
NOI
$84.1K $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%
$1,681,780
Cap Rate 7%
$1,201,271
Cap Rate 9%
$934,322
Alternative Uses
Best Use
Apartment 5plus
$1.20M
$1.05M – $1.40M
NOI $84,089 @ 7.0% cap · market cap 7.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.20M
$2.80M – $3.74M
NOI $224,187 @ 7.0% cap · market cap 20.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
12
Residential units
Yes
Sprinkler system
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,410
Businesses Nearby
Explore this area
Business Placement
Demographics for 40203, KY
16,801
Population
10,754
Households
1.6
Avg Household Size
37
Median Age
22%
College-Educated
86%
High-School Grad
2.9 sq mi
ZIP Area
5,793
Density / Sq Mi
$31,430
Median Household Income
$32,581
Median Earnings
$828
Median Rent
$179,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Four residential buildings provide a mix of one- and two-bedroom apartments with on-site laundry.
Where is this apartment building located?
The property is located at 110 W Oak St Louisville, KY.
What is the asking price?
The asking price for this property is $1,080,000.
What are key features of this property?
This property features: 12 apartments: eight 1‑bedroom/1‑bath units and four 2‑bedroom/1‑bath units; Four‑building property at 110, 112, 114 and 116 Oak Street; Built in 1900; renovations include a replacement roof and new mini‑split systems
