6-Unit Apartment
1401 E Breckinridge St, Louisville, KY 40204
For Sale
$515,000
A corner parcel provides on-site parking, with recent interior work and replacement laundry equipment.
Property Size5,254 SF
Price / SF$98.02
Days on Market154
Property Features for 1401 E Breckinridge St
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Building Details
Year Built
Listing Agency:
Perkins Realty Group
Listed By:
Drew Perkins · License KY #216069
(502) 345-4795
Source:
Onthemoverealtors
Added: Jun 10
Changed: Nov 10
Last Checked: Nov 9 at 6:28PM
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 Perkins Realty Group
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Investment Insights
Based on property information with market context.
Built in 1915, this 5,254-square-foot apartment property contains six one-bedroom units, including a basement apartment that has been remodeled. Recent work includes sewer and plumbing repairs, refinished flooring in the entry and one apartment, fresh paint, and several new appliances. The washer and dryer have also been replaced. The owner currently covers utilities for the building.
The property occupies a corner lot in Louisville, near Cherokee Park, Bardstown Road, Baxter Avenue, Barrett Avenue, Paristown, NuLu, and downtown. On-site parking is available.
The property occupies a corner lot in Louisville, near Cherokee Park, Bardstown Road, Baxter Avenue, Barrett Avenue, Paristown, NuLu, and downtown. On-site parking is available.
Key Highlights
- Six one‑bedroom apartments in a 5,254‑square‑foot building
- Constructed in 1915
- Corner‑lot setting with on‑site parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,756
Cap Rate
6.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$715,120
$715.1K
Cap Rate 7%
$510,800
$510.8K
Cap Rate 9%
$397,289
$397.3K
Market Conditions
NOI Build-Up for 5,254 SF
Gross rent
$68.7K $13.08/SF
− Vacancy
−$3.7K −$0.71/SF
EGI
$65.0K $12.37/SF
− OpEx
−$29.3K −$5.57/SF
NOI
$35.8K $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%
$715,120
Cap Rate 7%
$510,800
Cap Rate 9%
$397,289
Alternative Uses
Best Use
Apartment 5plus
$510.8K
$447.0K – $595.9K
NOI $35,756 @ 7.0% cap · market cap 6.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.36M
$1.19M – $1.59M
NOI $95,329 @ 7.0% cap · market cap 18.51%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,733
Businesses Nearby
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Business Placement
Demographics for 40204, KY
14,600
Population
8,759
Households
1.7
Avg Household Size
38
Median Age
63%
College-Educated
97%
High-School Grad
3.2 sq mi
ZIP Area
4,563
Density / Sq Mi
$70,706
Median Household Income
$50,246
Median Earnings
$1,225
Median Rent
$314,700
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Louisville, KY
Properties on Market for Apartment buildings in Louisville
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - A corner parcel provides on-site parking, with recent interior work and replacement laundry equipment.
Where is this apartment building located?
The property is located at 1401 E Breckinridge St Louisville, KY.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: Six one‑bedroom apartments in a 5,254‑square‑foot building; Constructed in 1915; Corner‑lot setting with on‑site parking
