Renovated 4-Plex with Leased
For Sale
$395,000
1361 S Brook St, Louisville, KY 40208
Renovated brick 4-plex with fully leased apartments, in-unit kitchen appliances, and basement coin laundry.
Property Size2,517 SF
Price / SF$156.93
Days on Market200
Property Features for 1361 S Brook St
General Information
Standard status
Active
Size
2,517 SF
Property subtype
Multi-Family
Occupancy
100%
Site & Location
Neighborhood
Old Louisville
Highway Access
Yes
Fenced Yard
Yes
Additional Details
Multifamily Units
4
Amenities
kitchen appliances
coin-operated washer and dryer
basement storage
fenced backyard
Building Details
Year Built
1900
Year Renovated
2016
Stories
3
Construction
brick
Tenancy
Multi
Listing Agency:
Ruby Realty
Listed By:
Jesse A Thomas
(502) 297-1776
Source:
Familyrealty
Added: Apr 11
Changed: Oct 25
Last Checked: Oct 26 at 8:50PM
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 Ruby Realty
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Investment Insights
Based on property information with market context.
This renovated brick 4-plex offers four income-producing units with a strong rental history. The property was renovated in 2016 and is currently fully leased. The first floor has two bedrooms, while the second floor includes two studio apartments. The third floor features a single studio unit. All units come equipped with kitchen appliances.
A coin-operated washer and dryer are available in the basement for tenant use, along with additional basement storage. The property also includes a fenced backyard. The owner is responsible for water and common area electricity costs.
Showings require 48-hour notice, and buyers and agents must be accompanied by the listing agent with proof of qualification to view. There is no sign on the property.
A coin-operated washer and dryer are available in the basement for tenant use, along with additional basement storage. The property also includes a fenced backyard. The owner is responsible for water and common area electricity costs.
Showings require 48-hour notice, and buyers and agents must be accompanied by the listing agent with proof of qualification to view. There is no sign on the property.
Key Highlights
- Renovated brick 4‑plex with apartments fully leased and strong rental history
- Unit mix: two 1st‑floor 2BR units leased for $800 each; two 2nd‑floor studios leased for $695 and $675
- 3rd‑floor has one studio apartment leased for $725
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,179
Cap Rate
5.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$423,580
$423.6K
Cap Rate 7%
$302,557
$302.6K
Cap Rate 9%
$235,322
$235.3K
Market Conditions
NOI Build-Up for 2,517 SF
Gross rent
$32.0K $12.72/SF
− Vacancy
−$1.8K −$0.70/SF
EGI
$30.3K $12.02/SF
− OpEx
−$9.1K −$3.61/SF
NOI
$21.2K $8.41/SF
Area
Louisville, KY
Vacancy
5.50%
Lease Rate
$12.72 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$423,580
Cap Rate 7%
$302,557
Cap Rate 9%
$235,322
Alternative Uses
Best Use
Multifamily LT 5
$302.6K
$264.7K – $353.0K
NOI $21,179 @ 7.0% cap · market cap 5.36%
Second Best
Apartment 5plus
$244.7K
$214.1K – $285.5K
NOI $17,130 @ 7.0% cap · market cap 4.34%
Theoretical Best
Office A
$652.4K
$570.9K – $761.1K
NOI $45,668 @ 7.0% cap · market cap 11.56%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,048
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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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?
Quadplex - Renovated brick 4-plex with fully leased apartments, in-unit kitchen appliances, and basement coin laundry.
Where is this quadplex located?
The property is located at 1361 S Brook St Louisville, KY.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Renovated brick 4‑plex with apartments fully leased and strong rental history; Unit mix: two 1st‑floor 2BR units leased for $800 each; two 2nd‑floor studios leased for $695 and $675; 3rd‑floor has one studio apartment leased for $725
