Turnkey Eight-Unit Multifamily
1646 BEECHWOOD AVE Louisville, KY 40204
1646 BEECHWOOD AVE, Louisville, KY, 40204
Contact for pricing
For Sale
Contact for pricing
Eight-unit investment property with separate gas/electric metering and updated roof, HVAC, windows, and parking lot.
Property Size6,909 SF
Price / SF$159.21
Days on Market52
Property Features for 1646 BEECHWOOD AVE
General Information
- Standard status
- Active
- Size
- 6,909 SF
- Property subtype
- Multifamily, Mixed Use
Building Details
- Year Built
- 1905
Listing agency
Weichert Commercial Brokerage Inc Louisville
(502) 609-4778
Listed by
William Friel · License #KY 57228
Source
Crexi
Added: Jun 1 Updated: Jul 10 at 1:49PM Checked: Jul 22 at 6:14PM
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 Weichert Commercial Brokerage Inc Louisville
Investment Insights
Based on property information with market context.
This turnkey multifamily property features eight well-appointed units configured as four 3-bedroom units and four 1-bedroom/studio units. The building is designed for manageable operating costs with separate gas and electric metering. Recent capital improvements include a roof and HVAC replacement in 2018, along with window updates, a water heater replacement, and an asphalt parking lot update in 2020.
The property is located directly behind Mid City Mall. This positioning places it within close proximity to major employment and education areas including Bellarmine, UofL, and Downtown, supporting convenient access for future tenants.
For buyers seeking a hands-on, ready-to-operate rental asset, the mix of unit sizes offers flexibility for tenant demand across households. The separately metered setup can simplify utility billing, while the documented improvements reduce near-term maintenance demands associated with major building systems.
The property is located directly behind Mid City Mall. This positioning places it within close proximity to major employment and education areas including Bellarmine, UofL, and Downtown, supporting convenient access for future tenants.
For buyers seeking a hands-on, ready-to-operate rental asset, the mix of unit sizes offers flexibility for tenant demand across households. The separately metered setup can simplify utility billing, while the documented improvements reduce near-term maintenance demands associated with major building systems.
Key Highlights
- Eight‑unit multi‑family property (7 plex also mentioned as available for assemblage): (4) 3BR units and (4) 1BR/studios
- Separately metered gas/electric with low overhead
- Recent updates include roof and HVAC (2018)
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 | $90.4k | $13.08 |
| − Vacancy | −$4.9k | −$0.71 |
| EGI | $85.5k | $12.37 |
| − OpEx | −$38.5k | −$5.57 |
| NOI | $47.0k | $6.81 |
6,909 SF · lease $13.08/SF/yr · vacancy 5.40% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$671.7K
$587.7K – $783.7K
NOI $47,019 @ 7.0% cap · market cap 4.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.79M
$1.57M – $2.09M
NOI $125,357 @ 7.0% cap · market cap 11.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Eight-unit investment property with separate gas/electric metering and updated roof, HVAC, windows, and parking lot.
Where is this apartment building located?
The property is located at 1646 BEECHWOOD AVE Louisville, KY.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Eight‑unit multi‑family property (7 plex also mentioned as available for assemblage): (4) 3BR units and (4) 1BR/studios; Separately metered gas/electric with low overhead; Recent updates include roof and HVAC (2018)
