Updated Duplex
For Sale
$299,000
164 N Bellaire Ave, Louisville, KY 40206
Two residences have undergone recent improvements and are occupied by tenants.
Property Size1,630 SF
Price / SF$183.44
Days on Market69
Property Features for 164 N Bellaire Ave
General Information
Standard status
Active
Size
1,630 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Gross Income
$23,040
Multifamily Units
2
Building Details
Year Built
1915
Buildings
1
Tenancy
Multi
Listing Agency:
Cowley Realty
Listed By:
Tom Cowley
(502) 432-6000
Source:
Familyrealty
Added: Aug 7
Changed: Oct 3
Last Checked: Oct 7 at 4:54PM
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 Cowley Realty
Investment Insights
Based on property information with market context.
This two-unit residential property was built in 1915 and has received recent improvements in both residences. Each unit is currently occupied, providing an established tenant profile for the property.
The duplex is located at 164 N Bellaire Ave in Louisville, Kentucky, within the 40206 ZIP code. The property is offered for sale as a duplex asset.
The duplex is located at 164 N Bellaire Ave in Louisville, Kentucky, within the 40206 ZIP code. The property is offered for sale as a duplex asset.
Key Highlights
- Recent improvements completed in both units
- Both units are currently occupied
- Built in 1915
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,715
Cap Rate
4.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$274,300
$274.3K
Cap Rate 7%
$195,929
$195.9K
Cap Rate 9%
$152,389
$152.4K
Market Conditions
NOI Build-Up for 1,630 SF
Gross rent
$20.7K $12.72/SF
− Vacancy
−$1.1K −$0.70/SF
EGI
$19.6K $12.02/SF
− OpEx
−$5.9K −$3.61/SF
NOI
$13.7K $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%
$274,300
Cap Rate 7%
$195,929
Cap Rate 9%
$152,389
Alternative Uses
Best Use
Multifamily LT 5
$195.9K
$171.4K – $228.6K
NOI $13,715 @ 7.0% cap · market cap 4.59%
Second Best
Apartment 5plus
$158.5K
$138.7K – $184.9K
NOI $11,093 @ 7.0% cap · market cap 3.71%
Theoretical Best
Office A
$422.5K
$369.7K – $492.9K
NOI $29,575 @ 7.0% cap · market cap 9.89%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
983
Businesses Nearby
Explore this area
Business Placement
Demographics for 40206, KY
20,196
Population
11,637
Households
1.7
Avg Household Size
38
Median Age
55%
College-Educated
95%
High-School Grad
5.8 sq mi
ZIP Area
3,482
Density / Sq Mi
$72,543
Median Household Income
$48,506
Median Earnings
$1,142
Median Rent
$276,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residences have undergone recent improvements and are occupied by tenants.
Where is this duplex located?
The property is located at 164 N Bellaire Ave Louisville, KY.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Recent improvements completed in both units; Both units are currently occupied; Built in 1915
