Two-Building Quadplex
New
For Sale
$1,125,000
2210 Steier Ln, Louisville, KY 40218
Eight apartments feature two-bedroom layouts, eat-in kitchens, and basement laundry connections.
Property Size3,960 SF
Price / SF$284.09
Days on Market7
Property Features for 2210 Steier Ln
General Information
Standard status
Active
Size
3,960 SF
Property subtype
Multi-Family
Units
Unit Mix
8 x 2BR/1BA
Multifamily Units
8
Amenities
parking lot
washer/dryer hook ups
storage unit
Building Details
Year Built
1968
Buildings
2
Construction
brick
Listing Agency:
Missy Klein Realty
Listed By:
Kyle Elmore · License #262211
(502) 389-9920
Source:
Whitepicketky
Added: Oct 1
Changed: Oct 6
Last Checked: Oct 7 at 12:31PM
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 Missy Klein Realty
Investment Insights
Based on property information with market context.
The property comprises two brick apartment buildings with eight units total. Each apartment has two bedrooms and one bathroom, along with a living room and an eat-in kitchen. Basement areas provide washer and dryer hookups and additional storage. The buildings date to 1968, and the property includes a parking lot.
Water and trash are paid by the owner; tenants pay gas, electricity, cable, and related services. The property is professionally managed, with rent roll and financial statements available upon request.
Water and trash are paid by the owner; tenants pay gas, electricity, cable, and related services. The property is professionally managed, with rent roll and financial statements available upon request.
Key Highlights
- Two brick apartment buildings containing 8 total units
- All 8 apartments have 2 bedrooms and 1 bathroom
- Apartments include living rooms and eat‑in kitchens
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,321
Cap Rate
2.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$666,420
$666.4K
Cap Rate 7%
$476,014
$476.0K
Cap Rate 9%
$370,233
$370.2K
Market Conditions
NOI Build-Up for 3,960 SF
Gross rent
$50.4K $12.72/SF
− Vacancy
−$2.8K −$0.70/SF
EGI
$47.6K $12.02/SF
− OpEx
−$14.3K −$3.61/SF
NOI
$33.3K $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%
$666,420
Cap Rate 7%
$476,014
Cap Rate 9%
$370,233
Alternative Uses
Best Use
Multifamily LT 5
$476.0K
$416.5K – $555.4K
NOI $33,321 @ 7.0% cap · market cap 2.96%
Second Best
Apartment 5plus
$385.0K
$336.9K – $449.2K
NOI $26,950 @ 7.0% cap · market cap 2.40%
Theoretical Best
Office A
$1.03M
$898.1K – $1.20M
NOI $71,850 @ 7.0% cap · market cap 6.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
985
Businesses Nearby
Explore this area
Business Placement
Demographics for 40218, KY
33,437
Population
14,697
Households
2.3
Avg Household Size
36
Median Age
29%
College-Educated
89%
High-School Grad
9.0 sq mi
ZIP Area
3,715
Density / Sq Mi
$56,191
Median Household Income
$35,784
Median Earnings
$1,059
Median Rent
$195,600
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Eight apartments feature two-bedroom layouts, eat-in kitchens, and basement laundry connections.
Where is this quadplex located?
The property is located at 2210 Steier Ln Louisville, KY.
What is the asking price?
The asking price for this property is $1,125,000.
What are key features of this property?
This property features: Two brick apartment buildings containing 8 total units; All 8 apartments have 2 bedrooms and 1 bathroom; Apartments include living rooms and eat‑in kitchens
