Turnkey Eight-Unit Multifamily
For Sale
$1,069,900
1646 Beechwood Ave, Louisville, KY 40204
Eight-unit investment property with separate gas/electric metering and updated roof, HVAC, windows, and parking lot.
Property Size6,909 SF
Price / SF$154.86
Days on Market155
Property Features for 1646 Beechwood Ave
General Information
Standard status
Active
Size
6,909 SF
Property subtype
Multifamily
Zoning
OR1
Site & Location
Neighborhood
Tyler Park
Additional Details
Multifamily Units
8
Amenities
Power
Water
Sewer
Natural Gas
Building Details
Year Built
1905
Year Renovated
2020
Tenancy
Multi
Listing Agency:
Weichert Realtors - ABG
Listed By:
William Friel · License #57228
(502) 609-4778
Source:
Kcrea.resimplifi
Added: May 27
Changed: Oct 25
Last Checked: Oct 28 at 4:55AM
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 Realtors - ABG
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
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)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,019
Cap Rate
4.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$940,380
$940.4K
Cap Rate 7%
$671,700
$671.7K
Cap Rate 9%
$522,433
$522.4K
Market Conditions
NOI Build-Up for 6,909 SF
Gross rent
$90.4K $13.08/SF
− Vacancy
−$4.9K −$0.71/SF
EGI
$85.5K $12.37/SF
− OpEx
−$38.5K −$5.57/SF
NOI
$47.0K $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%
$940,380
Cap Rate 7%
$671,700
Cap Rate 9%
$522,433
Alternative Uses
Best Use
Apartment 5plus
$671.7K
$587.7K – $783.7K
NOI $47,019 @ 7.0% cap · market cap 4.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.79M
$1.57M – $2.09M
NOI $125,357 @ 7.0% cap · market cap 11.72%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
8
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,085
Businesses Nearby
Explore this area
Business Placement
Demographics for 40204, KY
14,600
Population
8,759
Households
1.7
Avg Household Size
38
Median Age
63%
College-Educated
97%
High-School Grad
3.2 sq mi
ZIP Area
4,563
Density / Sq Mi
$70,706
Median Household Income
$50,246
Median Earnings
$1,225
Median Rent
$314,700
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 - 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 $1,069,900.
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)
