6-Unit Apartment
For Sale
$589,000
1518 W Oak St, Louisville, KY 40210
Three-story multifamily property with residential heating and cooling, tenant parking, and billboard advertising on-site.
Property Size4,800 SF
Price / SF$122.71
Days on Market159
Property Features for 1518 W Oak St
General Information
Standard status
Active
Size
4,800 SF
Total Parking Spaces
6
Property subtype
Multifamily
Zoning
R7
Occupancy
100%
Units
Unit Mix
6 x 3BR/1BA
Multifamily Units
6
Amenities
Power
Water
Sewer
6 Parking Spaces
Building Details
Year Built
2001
Buildings
1
Stories
3
Listing Agency:
Winner Realty
Listed By:
Madison Meredith · License #279604
(502) 974-1401
Source:
Kcrea.resimplifi
Added: May 12
Changed: Oct 5
Last Checked: Oct 16 at 5:49AM
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 Winner Realty
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Investment Insights
Based on property information with market context.
This 6-unit apartment property contains 4,800 square feet of living space across three stories. Each residence is configured with 3 bedrooms and 1 bathroom, and heating and cooling serve all units. Constructed in 2001, the building sits on an 8,028-square-foot lot and includes off-street tenant parking. The sale also includes an additional lot at 1522 W Oak.
Located at 1518 W Oak St in Louisville’s Park Hill neighborhood, the property carries R7 Residential Multi-Family zoning. All six units are leased, with existing leases transferring to the purchaser at closing. On-site billboard advertising provides an additional income source. The property is offered as-is with tenants in place, and current leases and rent rolls are available upon request.
Located at 1518 W Oak St in Louisville’s Park Hill neighborhood, the property carries R7 Residential Multi-Family zoning. All six units are leased, with existing leases transferring to the purchaser at closing. On-site billboard advertising provides an additional income source. The property is offered as-is with tenants in place, and current leases and rent rolls are available upon request.
Key Highlights
- 6‑unit apartment property with all units leased
- 4,800 square feet of living space across 3 stories
- Six 3BR/1BA units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,667
Cap Rate
5.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$653,340
$653.3K
Cap Rate 7%
$466,671
$466.7K
Cap Rate 9%
$362,967
$363.0K
Market Conditions
NOI Build-Up for 4,800 SF
Gross rent
$62.8K $13.08/SF
− Vacancy
−$3.4K −$0.71/SF
EGI
$59.4K $12.37/SF
− OpEx
−$26.7K −$5.57/SF
NOI
$32.7K $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%
$653,340
Cap Rate 7%
$466,671
Cap Rate 9%
$362,967
Alternative Uses
Best Use
Apartment 5plus
$466.7K
$408.3K – $544.5K
NOI $32,667 @ 7.0% cap · market cap 5.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M
NOI $87,091 @ 7.0% cap · market cap 14.79%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
438
Businesses Nearby
Explore this area
Business Placement
Demographics for 40210, KY
14,418
Population
7,137
Households
2
Avg Household Size
36
Median Age
10%
College-Educated
81%
High-School Grad
3.2 sq mi
ZIP Area
4,506
Density / Sq Mi
$35,841
Median Household Income
$23,881
Median Earnings
$822
Median Rent
$93,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Three-story multifamily property with residential heating and cooling, tenant parking, and billboard advertising on-site.
Where is this apartment building located?
The property is located at 1518 W Oak St Louisville, KY.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: 6‑unit apartment property with all units leased; 4,800 square feet of living space across 3 stories; Six 3BR/1BA units
