Four-Unit
For Sale
$400,000
Pending
2212 Gerald Ct, Louisville, KY 40218
All residences are configured with two bedrooms and one bathroom, with shared outdoor space and covered parking.
Property Size4,060 SF
Days on Market314
Property Features for 2212 Gerald Ct
General Information
Standard status
Pending
Size
4,060 SF
Total Parking Spaces
2
Property subtype
Multifamily
Zoning
R7
Occupancy
100%
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Amenities
shared patio area
large backyard
Building Details
Year Built
1955
Buildings
1
Listing Agency:
Weichert Realtors - ABG
Listed By:
William Friel · License #57228
(502) 609-4778
Source:
Kcrea.resimplifi
Added: Dec 9, 2025
Changed: Oct 8
Last Checked: Oct 19 at 3:30AM
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
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Investment Insights
Based on property information with market context.
This 4,060-square-foot quadplex, built in 1955, contains four two-bedroom, one-bath units. The property is fully rented, and several updates have been completed. Unit 3 is expected to turn over at the end of the year, creating a defined point for the next owner to address that unit.
Residents have access to a shared patio, a large backyard, and two covered parking spaces. The property is located at 2212 Gerald Ct in Louisville, Kentucky, and carries R7 zoning. Its existing four-unit configuration and current occupancy provide a straightforward multifamily operating profile.
Residents have access to a shared patio, a large backyard, and two covered parking spaces. The property is located at 2212 Gerald Ct in Louisville, Kentucky, and carries R7 zoning. Its existing four-unit configuration and current occupancy provide a straightforward multifamily operating profile.
Key Highlights
- Four two‑bedroom, one‑bath units in a quadplex configuration
- 4,060 SF building constructed in 1955
- Fully rented property with long‑term tenants
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,162
Cap Rate
8.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$683,240
$683.2K
Cap Rate 7%
$488,029
$488.0K
Cap Rate 9%
$379,578
$379.6K
Market Conditions
NOI Build-Up for 4,060 SF
Gross rent
$51.6K $12.72/SF
− Vacancy
−$2.8K −$0.70/SF
EGI
$48.8K $12.02/SF
− OpEx
−$14.6K −$3.61/SF
NOI
$34.2K $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%
$683,240
Cap Rate 7%
$488,029
Cap Rate 9%
$379,578
Alternative Uses
Best Use
Multifamily LT 5
$488.0K
$427.0K – $569.4K
NOI $34,162 @ 7.0% cap · market cap 8.54%
Second Best
Apartment 5plus
$394.7K
$345.4K – $460.5K
NOI $27,630 @ 7.0% cap · market cap 6.91%
Theoretical Best
Office A
$1.05M
$920.8K – $1.23M
NOI $73,665 @ 7.0% cap · market cap 18.42%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,054
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
Frequently Asked Questions
What type of property is this?
Quadplex - All residences are configured with two bedrooms and one bathroom, with shared outdoor space and covered parking.
Where is this quadplex located?
The property is located at 2212 Gerald Ct Louisville, KY.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Four two‑bedroom, one‑bath units in a quadplex configuration; 4,060 SF building constructed in 1955; Fully rented property with long‑term tenants
