Four-Plex Residential Income
For Sale
$425,000
1700 Rosewood Ave, Louisville, KY 40204
Four-unit residential income property with separate electric meters for each tenant.
Property Size2,933 SF
Price / SF$144.90
Days on Market102
Property Features for 1700 Rosewood Ave
General Information
Standard status
Active
Size
2,933 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
4
Building Details
Year Built
1900
Tenancy
Multi
Listing Agency:
Weichert Realtors - ABG
Listed By:
William M Friel · License #57228
(502) 609-4778
Source:
Familyrealty
Added: Jun 3
Changed: Sep 8
Last Checked: Sep 11 at 1:11PM
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
Investment Insights
Based on property information with market context.
This versatile four-plex provides a simple four-unit residential setup, offering separate electric metering for every tenant and one common gas meter. The configuration supports a variety of ownership approaches, including an owner-occupant living in one unit while renting the remaining three.
Located in the heart of Louisville’s Highlands neighborhood, the property is described as minutes to the Bardstown Road corridor, known for dining, retail, and local nightlife. The central location is positioned to serve tenants who want convenient access to the area’s established commercial activity.
For investors, this asset combines multi-unit flexibility with an efficient utility arrangement that can help streamline tenant billing through dedicated electric meters. For owner-occupants, the layout supports living on-site while collecting rental income from the other units. The property is presented as having a solid rental history, with value focused on optimizing rents through ownership. Prospective buyers and brokers should review the current unit mix and lease terms to confirm income and operating details.
Located in the heart of Louisville’s Highlands neighborhood, the property is described as minutes to the Bardstown Road corridor, known for dining, retail, and local nightlife. The central location is positioned to serve tenants who want convenient access to the area’s established commercial activity.
For investors, this asset combines multi-unit flexibility with an efficient utility arrangement that can help streamline tenant billing through dedicated electric meters. For owner-occupants, the layout supports living on-site while collecting rental income from the other units. The property is presented as having a solid rental history, with value focused on optimizing rents through ownership. Prospective buyers and brokers should review the current unit mix and lease terms to confirm income and operating details.
Key Highlights
- Four‑unit residential income property (4‑plex) built in 1900
- Separate electric meters for every tenant
- Single common gas meter for the property
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$24,679
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.81%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$493,580
$493.6K
Cap Rate 7%
$352,557
$352.6K
Cap Rate 9%
$274,211
$274.2K
Market Conditions
NOI Build-Up for 2,933 SF
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.
Gross rent
$37.3K $12.72/SF
− Vacancy
−$2.1K −$0.70/SF
EGI
$35.3K $12.02/SF
− OpEx
−$10.6K −$3.61/SF
NOI
$24.7K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$493,580
Cap Rate 7%
$352,557
Cap Rate 9%
$274,211
Alternative Uses
Best Use
Multifamily LT 5
$352.6K
$308.5K – $411.3K
NOI $24,679 @ 7.0% cap · market cap 5.81%
Second Best
Apartment 5plus
$285.2K
$249.5K – $332.7K
NOI $19,961 @ 7.0% cap · market cap 4.70%
Theoretical Best
Office A
$760.2K
$665.2K – $886.9K
NOI $53,216 @ 7.0% cap · market cap 12.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,080
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
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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?
Quadplex - Four-unit residential income property with separate electric meters for each tenant.
Where is this quadplex located?
The property is located at 1700 Rosewood Ave Louisville, KY.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Four‑unit residential income property (4‑plex) built in 1900; Separate electric meters for every tenant; Single common gas meter for the property
