12-Unit Apartment
For Sale
$1,400,000
1521 S 4th St, Louisville, KY 40208
Historic multifamily property with a twelve-unit configuration and TNZD zoning.
Property Size12,519 SF
Price / SF$111.83
Days on Market648
Property Features for 1521 S 4th St
General Information
Standard status
Active
Size
12,519 SF
Property subtype
Multifamily
Zoning
TNZD
Additional Details
Multifamily Units
12
Building Details
Year Built
1900
Listing Agency:
EOS Real Estate
Listed By:
Hallie Muldoon
(502) 641-4413
Source:
Kcrea.resimplifi
Added: Jan 9, 2025
Changed: Oct 5
Last Checked: Oct 19 at 3:22AM
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 EOS Real Estate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multifamily property contains 12 apartment units within a 12,519-square-foot building constructed in 1900. The asset is classified as an apartment building and carries TNZD zoning.
The property is located at 1521 S 4th St in Louisville, Kentucky, within the 40208 ZIP code. Its unit count, building area, age, and zoning provide the core physical and land-use profile for evaluation.
The property is located at 1521 S 4th St in Louisville, Kentucky, within the 40208 ZIP code. Its unit count, building area, age, and zoning provide the core physical and land-use profile for evaluation.
Key Highlights
- 12 apartment units
- 12,519 square feet of building area
- Constructed in 1900
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$85,198
Cap Rate
6.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,703,960
$1.7M
Cap Rate 7%
$1,217,114
$1.2M
Cap Rate 9%
$946,644
$946.6K
Market Conditions
NOI Build-Up for 12,519 SF
Gross rent
$163.7K $13.08/SF
− Vacancy
−$8.8K −$0.71/SF
EGI
$154.9K $12.37/SF
− OpEx
−$69.7K −$5.57/SF
NOI
$85.2K $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 Rate 5%
$1,703,960
Cap Rate 7%
$1,217,114
Cap Rate 9%
$946,644
Alternative Uses
Best Use
Apartment 5plus
$1.22M
$1.06M – $1.42M
NOI $85,198 @ 7.0% cap · market cap 6.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.24M
$2.84M – $3.79M
NOI $227,145 @ 7.0% cap · market cap 16.22%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
911
Businesses Nearby
Explore this area
Business Placement
Demographics for 40208, KY
17,048
Population
6,675
Households
2.6
Avg Household Size
27
Median Age
34%
College-Educated
88%
High-School Grad
2.6 sq mi
ZIP Area
6,557
Density / Sq Mi
$37,714
Median Household Income
$17,255
Median Earnings
$914
Median Rent
$153,100
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?
Apartment building - Historic multifamily property with a twelve-unit configuration and TNZD zoning.
Where is this apartment building located?
The property is located at 1521 S 4th St Louisville, KY.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 12 apartment units; 12,519 square feet of building area; Constructed in 1900
