Building Details

Year Built 1913

Listing Agency: Sell With Hale Realty & Auction

Listed By: Mike Hall Show Phone

Source: Mlsky

Added: Jul 18 Changed: Oct 13 Last Checked: Oct 14 at 10:36PM

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Investment Insights

Based on property information with market context.

Located at 2122 Bonnycastle Ave in Louisville’s Parkside area, this 3,937-SF multifamily property was built in 1913 and contains six apartments. Each residence is configured with one bedroom and one bathroom, with spacious living rooms providing a consistent layout across the building.

Two units are currently vacant, while the property includes a four-car carport. The two basement apartments are non-conforming because of ceiling height. The building requires updates, providing a defined renovation component for an owner evaluating improvements to the units and overall operation. Showings are available by appointment, and tenants are not to be disturbed.

Key Highlights

• Six‑unit multifamily property with six one‑bedroom, one‑bath apartments
• 3,937 SF building constructed in 1913
• Two units are currently vacant

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$26,793

Cap Rate

5.10%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$535,860 $535.9K

Cap Rate 7%

$382,757 $382.8K

Cap Rate 9%

$297,700 $297.7K

Market Conditions

NOI Build-Up for 3,937 SF

Gross rent

$51.5K $13.08/SF

− Vacancy

−$2.8K −$0.71/SF

EGI

$48.7K $12.37/SF

− OpEx

−$21.9K −$5.57/SF

NOI

$26.8K $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%

$535,860

Cap Rate 7%

$382,757

Cap Rate 9%

$297,700

Alternative Uses

Best Use

Apartment 5plus

$382.8K

$334.9K – $446.6K (±1% cap)

NOI $26,793 @ 7.0% cap · market cap 5.10%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.02M

$892.9K – $1.19M (±1% cap)

NOI $71,433 @ 7.0% cap · market cap 13.61%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick Daycare Center Building Supply HVAC Service Electrical Service (Bike/Boat/Book/etc) Store Furniture & Home Goods

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

6

Residential units

Location Intelligence

Trade Area within ½ mile

933

Businesses Nearby

Explore this area Business Placement

Demographics for 40205, KY

24,077

Population

11,021

Households

2.2

Avg Household Size

43

Median Age

65%

College-Educated

97%

High-School Grad

6.9 sq mi

ZIP Area

3,489

Density / Sq Mi

$98,990

Median Household Income

$54,604

Median Earnings

$1,095

Median Rent

$361,900

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this apartment buildings located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Apartment building - Six one-bedroom residences include generous living areas, a four-car carport, and two currently vacant units.

Where is this apartment building located?

The property is located at 2122 Bonnycastle Ave Louisville, KY.

What is the asking price?

The asking price for this property is $524,900.

What are key features of this property?

This property features: Six‑unit multifamily property with six one‑bedroom, one‑bath apartments; 3,937 SF building constructed in 1913; Two units are currently vacant