Historic Triplex with Off-Street
For Sale
$439,500
1449 S 4th St, Louisville, KY 40208
Three occupied apartments offer two bedrooms and one bathroom each, with individual laundry and separate LG&E metering.
Property Size3,450 SF
Price / SF$127.39
Days on Market152
Property Features for 1449 S 4th St
General Information
Standard status
Active
Size
3,450 SF
Total Parking Spaces
4
Property subtype
Triplex
Occupancy
100%
Site & Location
Neighborhood
Old Louisville
Utilities to Site
Yes
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Individually Metered Utilities
electricity, gas
Additional Details
Tenant in Place
Yes
Building Details
Year Built
1900
Buildings
1
Listing Agency:
On the Move Realtors, Inc.
(502) 509-7653
Listed By:
Mike Brown · License #197906
(502) 643-3175
Source:
Onthemoverealtors
Added: Jun 2
Changed: Oct 30
Last Checked: Oct 30 at 2:30PM
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 On the Move Realtors, Inc.
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Investment Insights
Based on property information with market context.
This 3,450-square-foot triplex contains three two-bedroom, one-bathroom apartments. The main-level unit has a living room, formal dining room, equipped kitchen, and laundry area. Two upper apartments use multi-level layouts, with living space and kitchens on the second floors and bedrooms and bathrooms above. Each has in-unit laundry. Interior details include 10-foot ceilings, hardwood floors, fireplaces, and a stained-glass entry window. A cellar provides more than 400 square feet of storage. Built in 1900, the property has four off-street parking spaces accessed from the rear alley.
Located in the Old Louisville Preservation District, the building is less than a block from Central Park and near the St. James Court Art Show. LG&E is separately metered and paid by residents; the landlord covers water. All apartments are occupied, and showings require 48 hours’ advance notice.
Located in the Old Louisville Preservation District, the building is less than a block from Central Park and near the St. James Court Art Show. LG&E is separately metered and paid by residents; the landlord covers water. All apartments are occupied, and showings require 48 hours’ advance notice.
Key Highlights
- Three apartments, each with 2 bedrooms and 1 bathroom
- 3,450 square feet; built in 1900
- Four off‑street parking spaces accessed from the rear alley
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,029
Cap Rate
6.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$580,580
$580.6K
Cap Rate 7%
$414,700
$414.7K
Cap Rate 9%
$322,544
$322.5K
Market Conditions
NOI Build-Up for 3,450 SF
Gross rent
$43.9K $12.72/SF
− Vacancy
−$2.4K −$0.70/SF
EGI
$41.5K $12.02/SF
− OpEx
−$12.4K −$3.61/SF
NOI
$29.0K $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%
$580,580
Cap Rate 7%
$414,700
Cap Rate 9%
$322,544
Alternative Uses
Best Use
Multifamily LT 5
$414.7K
$362.9K – $483.8K
NOI $29,029 @ 7.0% cap · market cap 6.61%
Second Best
Apartment 5plus
$335.4K
$293.5K – $391.3K
NOI $23,479 @ 7.0% cap · market cap 5.34%
Theoretical Best
Office A
$894.2K
$782.5K – $1.04M
NOI $62,597 @ 7.0% cap · market cap 14.24%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,030
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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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three occupied apartments offer two bedrooms and one bathroom each, with individual laundry and separate LG&E metering.
Where is this triplex located?
The property is located at 1449 S 4th St Louisville, KY.
What is the asking price?
The asking price for this property is $439,500.
What are key features of this property?
This property features: Three apartments, each with 2 bedrooms and 1 bathroom; 3,450 square feet; built in 1900; Four off‑street parking spaces accessed from the rear alley
