Fully Renovated 9-Unit Apartment
1337 S 4th St Louisville, KY 40208
1337 S 4th St, Louisville, KY, 40208
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For Sale
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Fully renovated 9-unit multifamily property with on-site parking, laundry, and storage units.
Property Size8,932 SF
Price / SF$117.55
Days on Market9
Property Features for 1337 S 4th St
General Information
- Standard status
- Active
- Size
- 8,932 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1890
Listing Agency
Hoagland Commercial Realtors
Listed by
Christopher O'Rear · License #N/A
Source
Crexi
Added: Jul 10 Checked: Jul 17 at 9:05 am
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 Realtors
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
Local Financial Insights For Apartment 5plus
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 | $116.8k | $13.08 |
| − Vacancy | −$6.3k | −$0.71 |
| EGI | $110.5k | $12.37 |
| − OpEx | −$49.7k | −$5.57 |
| NOI | $60.8k | $6.81 |
8,932 SF · lease $13.08/SF/yr · vacancy 5.40% · expense 45.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
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
