Updated Historic
New
For Sale
$725,000
1319 Willow Ave, Louisville, KY 40204
Multi Family, Louisville, KY
Property Size3,599 SF
Lot Size0.25 Acres
Price / SF$201.44
Days on Market5
Property Features for 1319 Willow Ave
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bedroom 1, Bathroom 4, Bedroom 4, Bathroom 3, Bedroom 3, Bedroom 2, Basement, Bathroom 2
Patio and Porch features
Porch, Deck
Subdivision
CHEROKEE TRIANGLE
Lot features
Corner Lot
Directions
From I-64 W, take exit 8 for Grinstead Dr., Turn left onto Grinstead Dr., Veer left onto Cherokee Pkwy, and take a Right on Willow Ave., and 1319 Willow Ave. is on the right hand side.
Standard status
Active
APN
10075K00210000
Size
3,599 SF
Lot size
0.25 Acres
Additional Details
Tenant in Place
Yes
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
covered front porch
rear deck
generous backyard
shared on-site laundry
Building Details
Year built
1920
Number of units
4
Building materials
Wood Frame
Roof type
Shingle, Asphalt
Architectural style
Other
Buildings
1
Listing Agency:
Keller Williams Collective · Keller Williams Realty
Listed By:
Angie Chambers
(502) 554-9500
Added: Oct 23
Changed: Oct 25
Last Checked: Oct 27 at 11:06AM
MLS# 1732804
Copyright © 2026 Greater Louisville Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 1920 wood-frame quadplex contains 3,599 square feet across two main levels, with four occupied apartments, each configured with one bedroom and one bathroom. Updates include renovated kitchens and baths in Units 1 and 3, refreshed paint and fixtures in Unit 1, and restored hardwood flooring with inlay in that unit. The property also has a covered front porch, rear deck, backyard, shared laundry, unfinished attic, and a detached one-car garage with loft. Potential conversions of the attic or garage are subject to buyer review of feasibility, zoning, permits, and historic-preservation approvals.
Set on a 0.25-acre corner lot in Louisville, the property is near Willow Park, Cherokee Park, and Cherokee Golf Course. All four apartments are occupied under month-to-month leases. Tenants pay gas and electric; the owner pays water, common-area utilities, and landscaping.
Set on a 0.25-acre corner lot in Louisville, the property is near Willow Park, Cherokee Park, and Cherokee Golf Course. All four apartments are occupied under month-to-month leases. Tenants pay gas and electric; the owner pays water, common-area utilities, and landscaping.
Key Highlights
- Four occupied apartments, each with one bedroom and one bathroom
- 3,599 square feet on two main levels; built in 1920
- 0.25‑acre corner lot in Louisville
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,283
Cap Rate
4.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$605,660
$605.7K
Cap Rate 7%
$432,614
$432.6K
Cap Rate 9%
$336,478
$336.5K
Market Conditions
NOI Build-Up for 3,599 SF
Gross rent
$45.8K $12.72/SF
− Vacancy
−$2.5K −$0.70/SF
EGI
$43.3K $12.02/SF
− OpEx
−$13.0K −$3.61/SF
NOI
$30.3K $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%
$605,660
Cap Rate 7%
$432,614
Cap Rate 9%
$336,478
Alternative Uses
Best Use
Multifamily LT 5
$432.6K
$378.5K – $504.7K
NOI $30,283 @ 7.0% cap · market cap 4.18%
Second Best
Apartment 5plus
$349.9K
$306.2K – $408.2K
NOI $24,493 @ 7.0% cap · market cap 3.38%
Theoretical Best
Office A
$932.9K
$816.3K – $1.09M
NOI $65,300 @ 7.0% cap · market cap 9.01%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
870
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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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four occupied one-bedroom apartments are complemented by shared laundry, a rear deck, and a detached garage with loft.
Where is this quadplex located?
The property is located at 1319 Willow Ave Louisville, KY.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Four occupied apartments, each with one bedroom and one bathroom; 3,599 square feet on two main levels; built in 1920; 0.25‑acre corner lot in Louisville
