Six-Unit Multifamily
1456 S 4th St, Louisville, KY 40208
For Sale
$699,000
Fully occupied apartment property with updated interiors, separately metered utilities, and on-site covered parking.
Property Size7,233 SF
Price / SF$96.64
Days on Market54
Property Features for 1456 S 4th St
General Information
Standard status
Size
Property subtype
Occupancy
Site & Location
Neighborhood
Additional Details
Multifamily Units
Amenities
washer/dryer hookups
separately metered utilities
Building Details
Year Built
Listing Agency:
Foundation Real Estate
Listed By:
Steve Hughes · License KY #215091
(502) 744-5678
Source:
Familyrealty
Added: Sep 22
Changed: Oct 25
Last Checked: Oct 7 at 12:53PM
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 Foundation Real Estate
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Investment Insights
Based on property information with market context.
Built in 1900, this 7,233-square-foot apartment building contains six units and is currently 100% occupied. The apartments include updated kitchens and bathrooms, washer/dryer hookups, and separately metered utilities. On-site carports and garages provide off-street parking for residents and visitors.
The property is located at 1456 S 4th St in Louisville’s historic Old Louisville area, near the University of Louisville and downtown Louisville. Its setting provides access to the university, downtown employment centers, and surrounding neighborhood amenities.
The property is located at 1456 S 4th St in Louisville’s historic Old Louisville area, near the University of Louisville and downtown Louisville. Its setting provides access to the university, downtown employment centers, and surrounding neighborhood amenities.
Key Highlights
- Six‑unit apartment building totaling 7,233 square feet
- 100% occupied with established tenancy
- Updated kitchens and bathrooms throughout the units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,224
Cap Rate
7.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$984,480
$984.5K
Cap Rate 7%
$703,200
$703.2K
Cap Rate 9%
$546,933
$546.9K
Market Conditions
NOI Build-Up for 7,233 SF
Gross rent
$94.6K $13.08/SF
− Vacancy
−$5.1K −$0.71/SF
EGI
$89.5K $12.37/SF
− OpEx
−$40.3K −$5.57/SF
NOI
$49.2K $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%
$984,480
Cap Rate 7%
$703,200
Cap Rate 9%
$546,933
Alternative Uses
Best Use
Apartment 5plus
$703.2K
$615.3K – $820.4K
NOI $49,224 @ 7.0% cap · market cap 7.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.87M
$1.64M – $2.19M
NOI $131,236 @ 7.0% cap · market cap 18.77%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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See the owner, sales and loan history
Open Analytics
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,030
Businesses Nearby
Explore this area
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
$153,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/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 - Fully occupied apartment property with updated interiors, separately metered utilities, and on-site covered parking.
Where is this apartment building located?
The property is located at 1456 S 4th St Louisville, KY.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Six‑unit apartment building totaling 7,233 square feet; 100% occupied with established tenancy; Updated kitchens and bathrooms throughout the units
