Fully Renovated 9-Unit Apartment
For Sale
Contact for pricing
1337 S 4th St, Louisville, KY 40208
Fully renovated 9-unit multifamily property with on-site parking, laundry, and storage units.
Property Size8,932 SF
Price / SF$117.55
Days on Market105
Property Features for 1337 S 4th St
General Information
Standard status
Active
Size
8,932 SF
Property subtype
Multifamily
Zoning
TNZD
Additional Details
Multifamily Units
9
Building Details
Year Built
1890
Year Renovated
2020
Buildings
1
Stories
3
Units
9
Listing Agency:
Hoagland Commercial
Listed By:
Christopher O'Rear · License #N/A
(502) 550-7658
Source:
Crexi
Added: Jul 10
Changed: Oct 13
Last Checked: Oct 20 at 9:34PM
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 Hoagland Commercial
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Investment Insights
Based on property information with market context.
This fully renovated 9-unit multifamily property features a unit mix of 1-bedroom and 2-bedroom layouts. Current ownership has completed updates throughout the units and addressed long-term capital items, including the roof, mechanicals, and meters. The property includes on-site parking and laundry, along with large exterior storage units that can be rented separately. Tenant-paid utilities are structured with tenants responsible for their own electricity, while water consumption is allocated on a pro-rata basis per the lease agreements.
The property is located in the heart of Old Louisville, directly across the street from Central Park.
With a residential income configuration, this asset offers an established rental setup with both in-building amenities and additional income potential through separately rentable storage.
The property is located in the heart of Old Louisville, directly across the street from Central Park.
With a residential income configuration, this asset offers an established rental setup with both in-building amenities and additional income potential through separately rentable storage.
Key Highlights
- Fully renovated 9‑unit multifamily property (built 1890) in Old Louisville
- All units renovated plus long‑term Cap‑Ex items including roof, mechanicals, and meters
- Across the street from Central Park, in an historic neighborhood
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,787
Cap Rate
5.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,215,740
$1.2M
Cap Rate 7%
$868,386
$868.4K
Cap Rate 9%
$675,411
$675.4K
Market Conditions
NOI Build-Up for 8,932 SF
Gross rent
$116.8K $13.08/SF
− Vacancy
−$6.3K −$0.71/SF
EGI
$110.5K $12.37/SF
− OpEx
−$49.7K −$5.57/SF
NOI
$60.8K $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%
$1,215,740
Cap Rate 7%
$868,386
Cap Rate 9%
$675,411
Alternative Uses
Best Use
Apartment 5plus
$868.4K
$759.8K – $1.01M
NOI $60,787 @ 7.0% cap · market cap 5.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.32M
$2.03M – $2.70M
NOI $162,062 @ 7.0% cap · market cap 15.43%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
9
Residential units
Location Intelligence
Trade Area within ½ mile
1,226
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Fully renovated 9-unit multifamily property with on-site parking, laundry, and storage units.
Where is this apartment building located?
The property is located at 1337 S 4th St Louisville, KY.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Fully renovated 9‑unit multifamily property (built 1890) in Old Louisville; All units renovated plus long‑term Cap‑Ex items including roof, mechanicals, and meters; Across the street from Central Park, in an historic neighborhood
