Louisville Quadplex Investment
For Sale
$295,000
1711 Liberty Bell Way, Louisville, KY 40215
Quadplex with four units, generating rental income.
Property Size2,940 SF
Lot Size0.15 Acres
Price / SF$100.34
Days on Market778
Property Features for 1711 Liberty Bell Way
General Information
Standard status
Active
Size
2,940 SF
Lot size
0.15 Acres
Property subtype
other
Building Details
Year Built
1961
Listing Agency:
Exit Realty Crutcher
(502) 817-5361
Listed By:
Darlene K Hirth · License #212206
(502) 817-5361
Source:
Exitrealty
Added: Jun 26, 2024
Changed: Aug 7
Last Checked: Aug 11 at 6:54AM
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 Exit Realty Crutcher
Investment Insights
Based on property information with market context.
This property presents an investment opportunity with a quadplex configuration, featuring four units each containing two bedrooms and one bathroom. Currently, three of the units are leased at $950.00 per month under one-year lease agreements. The fourth unit is rented for $900 until March 1, 2026. Tenants are responsible for covering the costs of electricity, gas, and cable, while the landlord is responsible for water and trash expenses. The property size is 2940 square feet.
Key Highlights
- Strong Rental Income: Three units generate $950/month each
- Long‑Term Lease: One unit is leased until March 1, 2026, ensuring stable income
- Fully Rented: All four units are currently occupied, offering immediate cash flow
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
$24,738
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
8.39%
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%
$494,760
$494.8K
Cap Rate 7%
$353,400
$353.4K
Cap Rate 9%
$274,867
$274.9K
Market Conditions
NOI Build-Up for 2,940 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
$37.4K $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%
$494,760
Cap Rate 7%
$353,400
Cap Rate 9%
$274,867
Alternative Uses
Best Use
Multifamily LT 5
$353.4K
$309.2K – $412.3K
NOI $24,738 @ 7.0% cap · market cap 8.39%
Second Best
Apartment 5plus
$285.8K
$250.1K – $333.5K
NOI $20,008 @ 7.0% cap · market cap 6.78%
Theoretical Best
Office A
$762.0K
$666.8K – $889.1K
NOI $53,343 @ 7.0% cap · market cap 18.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
570
Businesses Nearby
Explore this area
Business Placement
Demographics for 40215, KY
21,230
Population
9,070
Households
2.3
Avg Household Size
35
Median Age
13%
College-Educated
79%
High-School Grad
3.5 sq mi
ZIP Area
6,066
Density / Sq Mi
$42,762
Median Household Income
$32,815
Median Earnings
$976
Median Rent
$106,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Quadplex with four units, generating rental income.
Where is this quadplex located?
The property is located at 1711 Liberty Bell Way Louisville, KY.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Strong Rental Income: Three units generate $950/month each; Long‑Term Lease: One unit is leased until March 1, 2026, ensuring stable income; Fully Rented: All four units are currently occupied, offering immediate cash flow
