Old Louisville Multifamily Investment
For Sale
Contact for pricing
1337 S 4th St, Louisville, KY 40208
Renovated 9-unit apartment building with parking and garages.
Property Size10,104 SF
Price / SF$123.71
Days on Market1254
Property Features for 1337 S 4th St
General Information
Standard status
Active
Size
10,104 SF
Property subtype
Multifamily
Occupancy
89%
Net Operating Income
$69,500
Building Details
Year Built
1890
Year Renovated
2020
Buildings
1
Stories
3
Units
9
Listing Agency:
Trust Realty USA
Listed By:
Uri Segev · License #FL BK3238915
Source:
Crexi
Added: May 18, 2023
Changed: Sep 7
Last Checked: Oct 20 at 5:04PM
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 Trust Realty USA
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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 is a 9-unit multifamily apartment building located in Old Louisville. The property has been recently renovated and restored. There are four private parking spaces and five separate garages available, which can be rented for additional income. An on-site coin laundry is present, contributing to the net operating income. Tenants are responsible for their electric bills and a pro-rata share of water consumption, as outlined in their leases. The property size is 10104 square feet. There is potential to increase rents to market rates as leases expire, which could raise the capitalization rate. All but one of the units are currently rented.
Key Highlights
- Prime location in Old Louisville.
- Recently renovated and restored building.
- Nine‑unit multi‑family apartment building.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,763
Cap Rate
5.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,375,260
$1.4M
Cap Rate 7%
$982,329
$982.3K
Cap Rate 9%
$764,033
$764.0K
Market Conditions
NOI Build-Up for 10,104 SF
Gross rent
$132.2K $13.08/SF
− Vacancy
−$7.1K −$0.71/SF
EGI
$125.0K $12.37/SF
− OpEx
−$56.3K −$5.57/SF
NOI
$68.8K $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%
$1,375,260
Cap Rate 7%
$982,329
Cap Rate 9%
$764,033
Alternative Uses
Best Use
Apartment 5plus
$982.3K
$859.5K – $1.15M
NOI $68,763 @ 7.0% cap · market cap 5.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.62M
$2.29M – $3.06M
NOI $183,327 @ 7.0% cap · market cap 14.67%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
1,226
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Renovated 9-unit apartment building with parking and garages.
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 $1,250,000.
What are key features of this property?
This property features: Prime location in Old Louisville.; Recently renovated and restored building.; Nine‑unit multi‑family apartment building.
