Renovated
For Sale
$369,999
1853 Bank St, Louisville, KY 40203
Three residential units feature updated interiors and tenant-paid utilities.
Property Size2,747 SF
Price / SF$134.69
Days on Market71
Property Features for 1853 Bank St
General Information
Standard status
Active
Size
2,747 SF
Property subtype
Triplex
Site & Location
Neighborhood
Portland
Highway Access
Yes
Additional Details
Gross Income
$46,200
Multifamily Units
3
Tenant in Place
Yes
Building Details
Year Built
1890
Buildings
1
Tenancy
Multi
Listing Agency:
Weichert Realtors - ABG
(502) 893-1900
Listed By:
Hunter Gann · License #269860
(502) 694-4667
Source:
Onthemoverealtors
Added: Aug 28
Changed: Nov 5
Last Checked: Nov 5 at 9:10AM
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 renovated triplex contains 2,747 square feet. The building dates to 1890, and tenants are responsible for all utilities.
The property is in Louisville, with access to Portland, Downtown Louisville, and the Watterson.
The property is in Louisville, with access to Portland, Downtown Louisville, and the Watterson.
Key Highlights
- Triplex with 2,747 square feet
- Renovated building originally constructed in 1890
- 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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
Multi-tenant
Tenancy
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
$179,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Triplexes in Louisville, KY
Properties on Market for Triplexes in Louisville
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three residential units feature updated interiors and tenant-paid 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: Triplex with 2,747 square feet; Renovated building originally constructed in 1890; Tenants pay all utilities
