Turnkey Multifamily Investment
1439 THORNBERRY AVE Louisville, KY 40215
1439 THORNBERRY AVE, Louisville, KY, 40215
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For Sale
Contact for pricing
Pending
Eight-unit multifamily property, vacant and rent-ready in Louisville, KY.
Property Size7,200 SF
Days on Market65
Property Features for 1439 THORNBERRY AVE
General Information
- Standard status
- Pending
- Size
- 7,200 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1952
Listing Agency
WSG Homes
Listed by
Drew Wisdom · License #KY 221663
Source
Crexi
Added: May 15 Checked: Jul 17 at 3:04 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 WSG Homes
Investment Insights
Based on property information with market context.
This turnkey multifamily property features eight 2-bedroom, 1-bathroom units. The property is located in a strong rental corridor, with comparable nearby rentals supporting monthly rents of approximately $1000 to over $1200, depending on finishes and strategy. The 7,200 square foot property presents an ideal opportunity for investors seeking immediate lease-up potential, strong cash flow upside, and operational flexibility. It is suitable for buy-and-hold investors, BRRRR strategies, or portfolio expansion. The units are currently vacant and rent-ready, allowing investors to lease at current market rents from day one.
Key Highlights
- Turnkey 8‑unit multifamily property with all units vacant and rent‑ready.
- Immediate lease‑up potential at current market rents (estimated $1000-$1,200+ per unit).
- Strong cash flow upside and operational flexibility for investors.
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 | $94.2k | $13.08 |
| − Vacancy | −$5.1k | −$0.71 |
| EGI | $89.1k | $12.37 |
| − OpEx | −$40.1k | −$5.57 |
| NOI | $49.0k | $6.81 |
7,200 SF · lease $13.08/SF/yr · vacancy 5.40% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$700.0K
$612.5K – $816.7K
NOI $49,000 @ 7.0% cap · market cap 8.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.87M
$1.63M – $2.18M
NOI $130,637 @ 7.0% cap · market cap 23.75%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Eight-unit multifamily property, vacant and rent-ready in Louisville, KY.
Where is this apartment building located?
The property is located at 1439 THORNBERRY AVE Louisville, KY.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Turnkey 8‑unit multifamily property with all units vacant and rent‑ready.; Immediate lease‑up potential at current market rents (estimated $1000-$1,200+ per unit).; Strong cash flow upside and operational flexibility for investors.
