16-Unit Apartment
For Sale
$1,575,000
2739 Brownsboro Rd, Louisville, KY 40206
One-bedroom apartments include carports, basement storage lockers, and resident-use washers and dryers.
Property Size11,280 SF
Price / SF$139.63
Days on Market55
Property Features for 2739 Brownsboro Rd
General Information
Standard status
Active
Size
11,280 SF
Property subtype
Multi-Family
Units
Unit Mix
16 x 1BR
Multifamily Units
16
Additional Details
Gross Income
$166,080
Utilities to Site
Yes
Amenities
carports
storage lockers
washer/dryers
secure maintenance shop
Building Details
Year Built
1959
Listing Agency:
PDG Realty
(502) 896-1900
Listed By:
Brian Puryear · License #194084
Source:
Familyrealty
Added: Jul 10
Changed: Aug 29
Last Checked: Sep 1 at 10:56PM
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 PDG Realty
Investment Insights
Based on property information with market context.
Built in 1959, this 16-unit apartment property contains one-bedroom residences within 16,920 square feet. The building includes carports, a full basement with storage lockers, and washers and dryers designated for resident use. A secured maintenance shop is also located in the basement. Electric and gas service are separately metered, while the landlord pays water, sewer, and drainage expenses.
The property is located at 2739 Brownsboro Rd in Louisville, with Zorn Avenue approximately three blocks away. It is adjacent to Riedlonn and near the Frankfort Avenue entertainment corridor and Saint Matthews. The property carries R7 zoning.
The property is located at 2739 Brownsboro Rd in Louisville, with Zorn Avenue approximately three blocks away. It is adjacent to Riedlonn and near the Frankfort Avenue entertainment corridor and Saint Matthews. The property carries R7 zoning.
Key Highlights
- 16 one‑bedroom apartment units
- 16,920 SF apartment property built in 1959
- R7 zoning at 2739 Brownsboro Rd, Louisville, KY 40206
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$76,766
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.87%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,535,320
$1.5M
Cap Rate 7%
$1,096,657
$1.1M
Cap Rate 9%
$852,956
$853.0K
Market Conditions
NOI Build-Up for 11,280 SF
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.
Gross rent
$147.5K $13.08/SF
− Vacancy
−$8.0K −$0.71/SF
EGI
$139.6K $12.37/SF
− OpEx
−$62.8K −$5.57/SF
NOI
$76.8K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,535,320
Cap Rate 7%
$1,096,657
Cap Rate 9%
$852,956
Alternative Uses
Best Use
Apartment 5plus
$1.10M
$959.6K – $1.28M
NOI $76,766 @ 7.0% cap · market cap 4.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.92M
$2.56M – $3.41M
NOI $204,664 @ 7.0% cap · market cap 12.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
621
Businesses Nearby
Explore this area
Business Placement
Demographics for 40206, KY
20,196
Population
11,637
Households
1.7
Avg Household Size
38
Median Age
55%
College-Educated
95%
High-School Grad
5.8 sq mi
ZIP Area
3,482
Density / Sq Mi
$72,543
Median Household Income
$48,506
Median Earnings
$1,142
Median Rent
$276,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - One-bedroom apartments include carports, basement storage lockers, and resident-use washers and dryers.
Where is this apartment building located?
The property is located at 2739 Brownsboro Rd Louisville, KY.
What is the asking price?
The asking price for this property is $1,575,000.
What are key features of this property?
This property features: 16 one‑bedroom apartment units; 16,920 SF apartment property built in 1959; R7 zoning at 2739 Brownsboro Rd, Louisville, KY 40206
