Three-Unit Residential Income
1314 Highland Avenue Louisville, KY 40204
1314 Highland Avenue, Louisville, KY, 40204
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For Sale
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Wood-frame triplex offers three separate apartments with off-street parking and washer/dryer hookups in two units.
Property Size3,781 SF
Lot Size0.20 Acres
Price / SF$137.53
Days on Market47
Property Features for 1314 Highland Avenue
General Information
- Standard status
- Active
- Size
- 3,781 SF
- Lot size
- 0.20 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1900
Listing agency
simpler.realestate
Listed by
Lesa Seibert · License #296170
Source
Crexi
Added: Jun 7 Updated: Jul 21 at 8:12PM Checked: Jul 22 at 7:27AM
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 simpler.realestate
Investment Insights
Based on property information with market context.
1314 Highland Avenue is a three-unit residential income property housed in a wood-frame, approximately 2.5-story building built around 1900. The layout provides one full-floor apartment per level. The property includes three full bathrooms and three off-street parking spaces, with additional street parking on a 0.20-acre lot. Two units feature washer/dryer hookups, while the third-floor apartment is owner-occupied and currently produces no rental income.
The building is located in Louisville’s Original Highlands, described as one of the city’s more walkable rental submarkets, and is a few blocks from the Bardstown Road and Baxter Avenue dining and retail corridor. Per the offering, two of the three units are leased, generating $42,600 in current annual income.
The property is described as a legal nonconforming triplex under R5B zoning. The listing notes that buyers should confirm zoning and rebuild rights with Louisville Metro Planning and Design Services. Offered fee simple by general warranty deed, and a confidential offering memorandum with rent roll, financials, and sales comparables is available to qualified buyers.
The building is located in Louisville’s Original Highlands, described as one of the city’s more walkable rental submarkets, and is a few blocks from the Bardstown Road and Baxter Avenue dining and retail corridor. Per the offering, two of the three units are leased, generating $42,600 in current annual income.
The property is described as a legal nonconforming triplex under R5B zoning. The listing notes that buyers should confirm zoning and rebuild rights with Louisville Metro Planning and Design Services. Offered fee simple by general warranty deed, and a confidential offering memorandum with rent roll, financials, and sales comparables is available to qualified buyers.
Key Highlights
- Three‑unit wood‑frame triplex built around 1900 in Louisville’s Original Highlands with approx. 3,601 SF across 2.5 stories
- 2BR/1BA apartments (Apt 1 and Apt 2) each include washer/dryer hookup; Apt 3 is a 1BR/1BA
- Three full bathrooms total; three off‑street parking spaces plus street parking on a 0.20‑acre lot
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $48.1k | $12.72 |
| − Vacancy | −$2.6k | −$0.70 |
| EGI | $45.4k | $12.02 |
| − OpEx | −$13.6k | −$3.61 |
| NOI | $31.8k | $8.41 |
3,781 SF · lease $12.72/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$454.5K
$397.7K – $530.2K
NOI $31,814 @ 7.0% cap · market cap 6.12%
Second Best
Apartment 5plus
$367.6K
$321.7K – $428.9K
NOI $25,732 @ 7.0% cap · market cap 4.95%
Theoretical Best
Office A
$980.0K
$857.5K – $1.14M
NOI $68,602 @ 7.0% cap · market cap 13.19%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Triplex - Wood-frame triplex offers three separate apartments with off-street parking and washer/dryer hookups in two units.
Where is this triplex located?
The property is located at 1314 Highland Avenue Louisville, KY.
What is the asking price?
The asking price for this property is $520,000.
What are key features of this property?
This property features: Three‑unit wood‑frame triplex built around 1900 in Louisville’s Original Highlands with approx. 3,601 SF across 2.5 stories; 2BR/1BA apartments (Apt 1 and Apt 2) each include washer/dryer hookup; Apt 3 is a 1BR/1BA; Three full bathrooms total; three off‑street parking spaces plus street parking on a 0.20‑acre lot
