5-Unit Apartment
For Sale
$295,000
12819 Dixie Hwy, Louisville, KY 40272
Five one-bedroom, one-bath residences occupy a C2-zoned property along Dixie Highway.
Property Size2,968 SF
Price / SF$99.39
Days on Market748
Property Features for 12819 Dixie Hwy
General Information
Standard status
Active
Size
2,968 SF
Property subtype
Multifamily
Zoning
C-1 Neighborhood Commercial Zone
Units
Unit Mix
5 x 1BR/1BA
Multifamily Units
5
Additional Details
Average Monthly Rent
$650
Road Access
Yes
Building Details
Year Built
1942
Buildings
1
Listing Agency:
Gant Hill & Associates, LLC
Listed By:
Danny Boehnlein · License #54973
(502) 472-3863
Source:
Kcrea.resimplifi
Added: Sep 30, 2024
Changed: Oct 4
Last Checked: Oct 16 at 5:42AM
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 Gant Hill & Associates, LLC
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Investment Insights
Based on property information with market context.
This multifamily property contains five apartments, each configured with one bedroom and one bathroom. The building provides 2,968 square feet of residential space and was constructed in 1942.
The property is positioned on Dixie Highway in Louisville, with shopping and restaurants described as convenient to the site. C2 zoning applies to the property, adding a commercial zoning designation to this established apartment asset.
The property is positioned on Dixie Highway in Louisville, with shopping and restaurants described as convenient to the site. C2 zoning applies to the property, adding a commercial zoning designation to this established apartment asset.
Key Highlights
- Five apartments, each with 1 bedroom and 1 bathroom
- 2,968 square feet of property size
- C2 zoning designation
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,199
Cap Rate
6.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$403,980
$404.0K
Cap Rate 7%
$288,557
$288.6K
Cap Rate 9%
$224,433
$224.4K
Market Conditions
NOI Build-Up for 2,968 SF
Gross rent
$38.8K $13.08/SF
− Vacancy
−$2.1K −$0.71/SF
EGI
$36.7K $12.37/SF
− OpEx
−$16.5K −$5.57/SF
NOI
$20.2K $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%
$403,980
Cap Rate 7%
$288,557
Cap Rate 9%
$224,433
Alternative Uses
Best Use
Apartment 5plus
$288.6K
$252.5K – $336.7K
NOI $20,199 @ 7.0% cap · market cap 6.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$769.3K
$673.1K – $897.5K
NOI $53,851 @ 7.0% cap · market cap 18.25%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
5
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
158
Businesses Nearby
Explore this area
Business Placement
Demographics for 40272, KY
37,747
Population
15,469
Households
2.4
Avg Household Size
39
Median Age
19%
College-Educated
90%
High-School Grad
33.3 sq mi
ZIP Area
1,134
Density / Sq Mi
$66,382
Median Household Income
$37,644
Median Earnings
$1,147
Median Rent
$169,700
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 - Five one-bedroom, one-bath residences occupy a C2-zoned property along Dixie Highway.
Where is this apartment building located?
The property is located at 12819 Dixie Hwy Louisville, KY.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Five apartments, each with 1 bedroom and 1 bathroom; 2,968 square feet of property size; C2 zoning designation
