Renovated
For Sale
$369,999
1853 Bank St, Louisville, KY 40203
This Louisville property places three residential units under one roof, with tenants paying all utilities.
Property Size2,747 SF
Price / SF$134.69
Days on Market60
Property Features for 1853 Bank St
General Information
Standard status
Active
Size
2,747 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Portland
Highway Access
Yes
Additional Details
Multifamily Units
3
Building Details
Year Built
1890
Listing Agency:
All Care Real Estate
Listed By:
RE Solutions
(502) 219-3500
Source:
Resolutions
Added: Aug 30
Changed: Oct 27
Last Checked: Oct 28 at 7:32AM
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 All Care Real Estate
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Investment Insights
Based on property information with market context.
Built in 1890 and fully renovated, this triplex contains three residential units within 2,747 square feet. The property is presented in renovated condition, while tenants are responsible for all utilities. Located at 1853 Bank St in Louisville, the asset offers proximity to Portland and Downtown Louisville, with access to the Watterson nearby. The residential configuration and completed renovation provide a straightforward multifamily property profile for review.
Key Highlights
- Fully renovated triplex with three residential units
- 2,747 square feet of residential property
- Tenants pay all utilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,114
Cap Rate
6.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$462,280
$462.3K
Cap Rate 7%
$330,200
$330.2K
Cap Rate 9%
$256,822
$256.8K
Market Conditions
NOI Build-Up for 2,747 SF
Gross rent
$34.9K $12.72/SF
− Vacancy
−$1.9K −$0.70/SF
EGI
$33.0K $12.02/SF
− OpEx
−$9.9K −$3.61/SF
NOI
$23.1K $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 Rate 5%
$462,280
Cap Rate 7%
$330,200
Cap Rate 9%
$256,822
Alternative Uses
Best Use
Multifamily LT 5
$330.2K
$288.9K – $385.2K
NOI $23,114 @ 7.0% cap · market cap 6.25%
Second Best
Apartment 5plus
$267.1K
$233.7K – $311.6K
NOI $18,695 @ 7.0% cap · market cap 5.05%
Theoretical Best
Office A
$712.0K
$623.0K – $830.7K
NOI $49,842 @ 7.0% cap · market cap 13.47%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
813
Businesses Nearby
Explore this area
Business Placement
Demographics for 40203, KY
16,801
Population
10,754
Households
1.6
Avg Household Size
37
Median Age
22%
College-Educated
86%
High-School Grad
2.9 sq mi
ZIP Area
5,793
Density / Sq Mi
$31,430
Median Household Income
$32,581
Median Earnings
$828
Median Rent
$179,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - This Louisville property places three residential units under one roof, with tenants paying all utilities.
Where is this triplex located?
The property is located at 1853 Bank St Louisville, KY.
What is the asking price?
The asking price for this property is $369,999.
What are key features of this property?
This property features: Fully renovated triplex with three residential units; 2,747 square feet of residential property; Tenants pay all utilities
