Renovated 4-Unit Apartment
For Sale
$315,000
1718 Tempest Way, Louisville, KY 40216
All units are occupied and include central HVAC, refreshed kitchens, and laundry hookups.
Property Size3,200 SF
Price / SF$98.44
Days on Market15
Property Features for 1718 Tempest Way
General Information
Standard status
Active
Size
3,200 SF
Property subtype
Multifamily
Zoning
R7
Occupancy
100%
Site & Location
Neighborhood
Kenwood
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Tenant in Place
Yes
Amenities
central HVAC
laundry rooms
Power
Water
Sewer
Natural Gas
Listing Agency:
PML Real Estate Group LLC
Listed By:
Brian Stocker · License #6689202
(502) 895-9136
Source:
Kcrea.resimplifi
Added: Oct 13
Changed: Oct 26
Last Checked: Oct 26 at 3:42PM
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 PML Real Estate Group LLC
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Investment Insights
Based on property information with market context.
This 3,200-square-foot apartment property contains four occupied units, each with two bedrooms and one bathroom. Central HVAC serves the apartments, while kitchen and laundry areas have been renovated; washer and dryer hookups are provided. The property is professionally managed, with the option for that arrangement to continue or end after a sale.
The building is near Dixie Highway and Holy Cross High School in Louisville. It is zoned R7. Tenants cover gas and electric service, while water, sewer, and trash are paid by the owner.
The building is near Dixie Highway and Holy Cross High School in Louisville. It is zoned R7. Tenants cover gas and electric service, while water, sewer, and trash are paid by the owner.
Key Highlights
- Four occupied apartments, each with 2 bedrooms and 1 bathroom
- 3,200 square feet with central HVAC
- Renovated kitchens and laundry areas; washer and dryer hookups
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,987
Cap Rate
9.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$579,740
$579.7K
Cap Rate 7%
$414,100
$414.1K
Cap Rate 9%
$322,078
$322.1K
Market Conditions
NOI Build-Up for 3,200 SF
Gross rent
$57.6K $18.00/SF
− Vacancy
−$4.9K −$1.53/SF
EGI
$52.7K $16.47/SF
− OpEx
−$23.7K −$7.41/SF
NOI
$29.0K $9.06/SF
Area
ZIP 40216
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$579,740
Cap Rate 7%
$414,100
Cap Rate 9%
$322,078
Alternative Uses
Best Use
Multifamily LT 5
$451.9K
$395.4K – $527.2K
NOI $31,630 @ 7.0% cap · market cap 10.04%
Second Best
Apartment 5plus
$414.1K
$362.3K – $483.1K
NOI $28,987 @ 7.0% cap · market cap 9.20%
Theoretical Best
Office A
$820.7K
$718.1K – $957.4K
NOI $57,446 @ 7.0% cap · market cap 18.24%
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
4
Residential units
100%
Occupancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
644
Businesses Nearby
Explore this area
Business Placement
Demographics for 40216, KY
43,434
Population
19,257
Households
2.3
Avg Household Size
40
Median Age
14%
College-Educated
87%
High-School Grad
15.7 sq mi
ZIP Area
2,766
Density / Sq Mi
$50,211
Median Household Income
$35,503
Median Earnings
$883
Median Rent
$154,500
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?
Quadplex - All units are occupied and include central HVAC, refreshed kitchens, and laundry hookups.
Where is this quadplex located?
The property is located at 1718 Tempest Way Louisville, KY.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Four occupied apartments, each with 2 bedrooms and 1 bathroom; 3,200 square feet with central HVAC; Renovated kitchens and laundry areas; washer and dryer hookups
