Four-Unit Quadplex with Basement
For Sale
$690,000
119 McArthur Dr, Louisville, KY 40207
Four one-bedroom, one-bath residences provide rear parking, basement storage, and washer/dryer hookups.
Property Size3,630 SF
Price / SF$190.08
Days on Market42
Property Features for 119 McArthur Dr
General Information
Standard status
Active
Size
3,630 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Amenities
additional storage in the basement
washer/dryer hookups
Building Details
Year Built
1959
Listing Agency:
Homepage Realty
(502) 609-9170
Listed By:
Amy Kastan
Source:
Familyrealty
Added: Jul 20
Changed: Aug 28
Last Checked: Aug 29 at 11:52AM
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 Homepage Realty
Investment Insights
Based on property information with market context.
Built in 1959, this 3,630-square-foot quadplex contains four one-bedroom, one-bath units. The property includes rear parking, basement storage, and washer/dryer hookups, providing practical support features for the existing residential configuration.
The property is located near shopping, dining, restaurants, and major roadways, with access to surrounding area amenities. Its four-unit layout supports multifamily ownership and includes the physical features described for the property.
The property is located near shopping, dining, restaurants, and major roadways, with access to surrounding area amenities. Its four-unit layout supports multifamily ownership and includes the physical features described for the property.
Key Highlights
- Four 1‑bedroom, 1‑bath units in a quadplex configuration
- 3,630 SF property built in 1959
- Rear parking included
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
$30,544
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
4.43%
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%
$610,880
$610.9K
Cap Rate 7%
$436,343
$436.3K
Cap Rate 9%
$339,378
$339.4K
Market Conditions
NOI Build-Up for 3,630 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
$46.2K $12.72/SF
− Vacancy
−$2.5K −$0.70/SF
EGI
$43.6K $12.02/SF
− OpEx
−$13.1K −$3.61/SF
NOI
$30.5K $8.41/SF
Area
Louisville, KY
Vacancy
5.50%
Lease Rate
$12.72 /SF/Yr
Expense Ratio
30.00%
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%
$610,880
Cap Rate 7%
$436,343
Cap Rate 9%
$339,378
Alternative Uses
Best Use
Multifamily LT 5
$436.3K
$381.8K – $509.1K
NOI $30,544 @ 7.0% cap · market cap 4.43%
Second Best
Apartment 5plus
$352.9K
$308.8K – $411.7K
NOI $24,704 @ 7.0% cap · market cap 3.58%
Theoretical Best
Office A
$940.9K
$823.3K – $1.10M
NOI $65,863 @ 7.0% cap · market cap 9.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,132
Businesses Nearby
Explore this area
Business Placement
Demographics for 40207, KY
30,104
Population
14,507
Households
2.1
Avg Household Size
43
Median Age
68%
College-Educated
98%
High-School Grad
11.7 sq mi
ZIP Area
2,573
Density / Sq Mi
$98,583
Median Household Income
$59,242
Median Earnings
$1,248
Median Rent
$401,500
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?
Quadplex - Four one-bedroom, one-bath residences provide rear parking, basement storage, and washer/dryer hookups.
Where is this quadplex located?
The property is located at 119 McArthur Dr Louisville, KY.
What is the asking price?
The asking price for this property is $690,000.
What are key features of this property?
This property features: Four 1‑bedroom, 1‑bath units in a quadplex configuration; 3,630 SF property built in 1959; Rear parking included
