Highlands Four-Plex Investment
2114 Bonnycastle Ave, Louisville, KY 40205
MULTI_FAMILY - Other - Louisville, KY
Property size:
5,200 SFLot size:
0.21 AcresPrice / SF:
$153/SF- Added:
- Apr 13, 2026
- Days on Market:
- 45
- Last Refresh:
- May 27 at 3:06 pm
Property Features for 2114 Bonnycastle Ave
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 8
- Bathrooms
- 5
- Rooms
- Bedroom 6, Bathroom 3, Bedroom 7, Bathroom 4, Bedroom 8, Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 5, Bedroom 1, Basement, Bedroom 2, Bathroom 5, Dining Room, Bedroom 4
- Patio and Porch features
- Deck
- Standard status
- Active
- APN
- 077E00500000
- Size
- 5,200 SF
- Lot size
- 0.21 Acres
Utilities
- Sewer type
- Public Sewer
- Heating system
- Ductless (Heating), Forced Air
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1925
- Number of units
- 4
- Building materials
- Brick
- Roof type
- Composition
- Architectural style
- Other
Listing agent Amanda Helfrich License #222813 (502) 807-7319
Listing office Homepage Realty 8002 New LaGrange Rd, Louisville, KY (502) 690-6685
Listing date Apr 13, 2026
MLS# 1714238
Listing URL
Copyright © 2026 Greater Louisville Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Prime Highlands Location: Steps from Bardstown Road's shops, restaurants, and entertainment.
- Strong Rental History: Maintained strong occupancy with minimal turnover over the past 25 years.
- Owner‑Occupant Potential: Spacious, vacant first‑floor unit (2,000+ sq ft, 3 bedrooms, 2 bathrooms) ideal for owner‑occupant.
- Income‑Generating Opportunity: Four well‑appointed units, with potential to convert basement laundry to coin‑operated.
- Unique Unit Features: Each unit offers distinctive bonus spaces like sunrooms, butler's pantries, or mudrooms.
- Additional Amenities: Includes a large fenced backyard and three rear garages.
Overview
Located in Louisville's Highlands neighborhood, this four-plex is a three-story brick property featuring four units ranging from one to three bedrooms. Each unit includes bonus spaces such as sunrooms, butler's pantries, or mudrooms. The property has a full basement with washers and dryers. There is a large fenced backyard and three rear garages. Two units have been recently refreshed with new paint and professional cleaning. A new one-year lease begins May 1 on the third-floor unit. The first-floor unit offers over 2,000 square feet, three bedrooms, and two bathrooms. The property has maintained strong occupancy with minimal turnover over the past 25 years. It is located steps from Bardstown Road's shops, restaurants, and entertainment. The property is situated on a lot of 0.21 acres and the building size is 5,200 square feet.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$486.2K
NOI $43,754 @ 9.00% cap · cautious / downside scenario
Moderate
$625.1K
NOI $43,754 @ 7.00% cap · market / base-case scenario
Aggressive
$875.1K
NOI $43,754 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $66.1k | $12.72 |
| − Vacancy | −$3.6k | −$0.70 |
| EGI | $62.5k | $12.02 |
| − OpEx | −$18.8k | −$3.61 |
| NOI | $43.8k | $8.41 |
5,200 SF · lease $12.72/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$625.1K
$546.9K – $729.2K
NOI $43,754 @ 7.0% cap · market cap 5.48%
Second Best
Apartment 5plus
$505.6K
$442.4K – $589.8K
NOI $35,389 @ 7.0% cap · market cap 4.43%
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,349 @ 7.0% cap · market cap 11.81%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Location Insight
- Map
- Local Demand
- City
- Louisville
- County
- Jefferson
- State
- Kentucky
- Longitude
- -85.701752
- Latitude
- 38.231997
Nearby Similar for Sale
FAQs
What type of property is this?
Quadplex - Four-plex in Louisville's Highlands neighborhood, ideal for investors/owner-occupants.
Where is this quadplex located?
The property is located at 2114 Bonnycastle Ave Louisville, KY.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Prime Highlands Location: Steps from Bardstown Road's shops, restaurants, and entertainment.; Strong Rental History: Maintained strong occupancy with minimal turnover over the past 25 years.; Owner‑Occupant Potential: Spacious, vacant first‑floor unit (2,000+ sq ft, 3 bedrooms, 2 bathrooms) ideal for owner‑occupant.
