Updated Triplex with Rear
For Sale
$500,000
1313 Highland Ave, Louisville, KY 40204
Three-unit property with refreshed windows and utility improvements in Louisville’s Highlands area.
Property Size2,060 SF
Price / SF$242.72
Days on Market50
Property Features for 1313 Highland Ave
General Information
Standard status
Active
Size
2,060 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Highlands
Additional Details
Multifamily Units
3
Building Details
Year Built
1900
Listing Agency:
United Real Estate Louisville
Listed By:
Mike Hall
(502) 509-5131
Source:
Mlsky
Added: Sep 9
Changed: Oct 27
Last Checked: Oct 28 at 7:37AM
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 United Real Estate Louisville
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Investment Insights
Based on property information with market context.
This three-unit residential income property contains 2,060 square feet and was built in 1900. The configuration includes a primary residence and a separate cottage positioned behind the main dwelling, supporting a flexible multi-unit arrangement.
Recent improvements include replacement windows throughout and updated utilities. The property is located at 1313 Highland Ave in Louisville’s Highlands area, providing a defined urban setting for a residential rental asset. Its three-unit layout and updated building components offer a practical starting point for continued rental use.
Recent improvements include replacement windows throughout and updated utilities. The property is located at 1313 Highland Ave in Louisville’s Highlands area, providing a defined urban setting for a residential rental asset. Its three-unit layout and updated building components offer a practical starting point for continued rental use.
Key Highlights
- Triplex configuration with 2,060 square feet
- Separate cottage located behind the main residence
- All‑new windows throughout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,333
Cap Rate
3.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$346,660
$346.7K
Cap Rate 7%
$247,614
$247.6K
Cap Rate 9%
$192,589
$192.6K
Market Conditions
NOI Build-Up for 2,060 SF
Gross rent
$26.2K $12.72/SF
− Vacancy
−$1.4K −$0.70/SF
EGI
$24.8K $12.02/SF
− OpEx
−$7.4K −$3.61/SF
NOI
$17.3K $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 Rate 5%
$346,660
Cap Rate 7%
$247,614
Cap Rate 9%
$192,589
Alternative Uses
Best Use
Multifamily LT 5
$247.6K
$216.7K – $288.9K
NOI $17,333 @ 7.0% cap · market cap 3.47%
Second Best
Apartment 5plus
$200.3K
$175.2K – $233.7K
NOI $14,019 @ 7.0% cap · market cap 2.80%
Theoretical Best
Office A
$534.0K
$467.2K – $623.0K
NOI $37,377 @ 7.0% cap · market cap 7.48%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,621
Businesses Nearby
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Business Placement
Demographics for 40204, KY
14,600
Population
8,759
Households
1.7
Avg Household Size
38
Median Age
63%
College-Educated
97%
High-School Grad
3.2 sq mi
ZIP Area
4,563
Density / Sq Mi
$70,706
Median Household Income
$50,246
Median Earnings
$1,225
Median Rent
$314,700
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
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property with refreshed windows and utility improvements in Louisville’s Highlands area.
Where is this triplex located?
The property is located at 1313 Highland Ave Louisville, KY.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Triplex configuration with 2,060 square feet; Separate cottage located behind the main residence; All‑new windows throughout
