Turnkey Multifamily Investment
1439 THORNBERRY AVE, Louisville, KY 40215
Eight-unit multifamily property, vacant and rent-ready in Louisville, KY.
Type:Multifamily
Property size:
7,200 SFPrice / SF:
$83/SF- Added:
- May 15, 2026
- Days on Market:
- 19
- Last Refresh:
- May 16 at 8:50 pm
Property Features for 1439 THORNBERRY AVE
General Information
- Standard status
- Active
- Size
- 7,200 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1952
Listing agent Drew Wisdom License #KY 221663
Listing office WSG Homes
Listing date May 15, 2026
Source Crexi
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
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.
- Ideal for buy‑and‑hold, BRRRR strategies, or portfolio expansion.
- Value‑add opportunity without heavy rehabilitation needs.
- Located in a strong rental corridor with supporting rental comparables.
Overview
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.
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 8.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.87M
$1.63M – $2.18M
NOI $130,637 @ 7.0% cap · market cap 21.85%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Louisville
- County
- Jefferson
- State
- Kentucky
- Longitude
- -85.7815795
- Latitude
- 38.2079061
Nearby Similar for Sale
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 $598,000.
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.
