5-Unit Apartment
For Sale
$379,000
210 E Ormsby Ave, Louisville, KY 40203
Multifamily property containing five residential units in Louisville’s Old Louisville neighborhood.
Property Size3,731 SF
Price / SF$101.58
Days on Market90
Property Features for 210 E Ormsby Ave
General Information
Standard status
Active
Size
3,731 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
5
Building Details
Year Built
1900
Listing Agency:
Olive + Oak Realty
Listed By:
Mike Hall
(502) 509-5131
Source:
Mlsky
Added: Jul 21
Changed: Oct 16
Last Checked: Oct 16 at 9:24AM
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 Olive + Oak Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multifamily property contains five residential units and was built in 1900. The building is located at 210 E Ormsby Ave in Louisville’s Old Louisville neighborhood, a historic area identified in the property information.
The asset offers a five-unit apartment configuration within an established residential income property. Its early construction date and location provide the primary defining characteristics of the building.
The asset offers a five-unit apartment configuration within an established residential income property. Its early construction date and location provide the primary defining characteristics of the building.
Key Highlights
- Five‑unit multifamily property
- Built in 1900
- Located in Old Louisville
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,391
Cap Rate
6.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$507,820
$507.8K
Cap Rate 7%
$362,729
$362.7K
Cap Rate 9%
$282,122
$282.1K
Market Conditions
NOI Build-Up for 3,731 SF
Gross rent
$48.8K $13.08/SF
− Vacancy
−$2.6K −$0.71/SF
EGI
$46.2K $12.37/SF
− OpEx
−$20.8K −$5.57/SF
NOI
$25.4K $6.81/SF
Area
Louisville, KY
Vacancy
5.40%
Lease Rate
$13.08 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$507,820
Cap Rate 7%
$362,729
Cap Rate 9%
$282,122
Alternative Uses
Best Use
Apartment 5plus
$362.7K
$317.4K – $423.2K
NOI $25,391 @ 7.0% cap · market cap 6.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$967.1K
$846.2K – $1.13M
NOI $67,695 @ 7.0% cap · market cap 17.86%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
1,268
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property containing five residential units in Louisville’s Old Louisville neighborhood.
Where is this apartment building located?
The property is located at 210 E Ormsby Ave Louisville, KY.
What is the asking price?
The asking price for this property is $379,000.
What are key features of this property?
This property features: Five‑unit multifamily property; Built in 1900; Located in Old Louisville
