Multifamily Property with Detached
3000 S FIFTH ST Louisville, KY 40208
For Sale
Contact for pricing
Leased to a recovery housing operator and paired with detached storage/garage space for specialty residential programming.
Property Size3,705 SF
Price / SF$134.95
Days on Market57
Property Features for 3000 S FIFTH ST
General Information
Standard status
Active
Size
3,705 SF
Property subtype
Multifamily, Mixed Use, Special Purpose
Building Details
Year Built
1910
Listing Agency:
WSG Homes
Listed By:
Drew Wisdom · License #KY 221663
Source:
Crexi
Added: Jun 2
Changed: Jul 10
Last Checked: Jul 25 at 9:08AM
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 WSG Homes
Investment Insights
Based on property information with market context.
This income-producing multifamily property is currently leased to a recovery housing operator and generates $5,500 per month in rental income. The offering includes a large residential structure along with a detached storage/garage building, providing additional on-site space that may support day-to-day operations for a specialized housing use.
Jefferson County PVA currently classifies the property as apartments. Buyers should independently verify zoning, density, and any future intended uses before finalizing plans, as the listing notes zoning and use should be confirmed through the appropriate local channels.
The property is being marketed to investors and operators seeking stable, specialty-oriented residential housing opportunities, including recovery or transitional housing providers and workforce housing organizations. As with any multifamily purchase, due diligence on permitted uses, site capacity, and regulatory requirements is important to ensure the intended program aligns with local approvals.
Jefferson County PVA currently classifies the property as apartments. Buyers should independently verify zoning, density, and any future intended uses before finalizing plans, as the listing notes zoning and use should be confirmed through the appropriate local channels.
The property is being marketed to investors and operators seeking stable, specialty-oriented residential housing opportunities, including recovery or transitional housing providers and workforce housing organizations. As with any multifamily purchase, due diligence on permitted uses, site capacity, and regulatory requirements is important to ensure the intended program aligns with local approvals.
Key Highlights
- Currently leased to a recovery housing operator generating $5,500 per month in rental income
- Year built: 1910 (large residential structure)
- Includes a detached storage/garage building
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $48.5k | $13.08 |
| − Vacancy | −$2.6k | −$0.71 |
| EGI | $45.8k | $12.37 |
| − OpEx | −$20.6k | −$5.57 |
| NOI | $25.2k | $6.81 |
3,705 SF · lease $13.08/SF/yr · vacancy 5.40% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$360.2K
$315.2K – $420.2K
NOI $25,214 @ 7.0% cap · market cap 5.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$960.3K
$840.3K – $1.12M
NOI $67,224 @ 7.0% cap · market cap 13.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Multifamily property - Leased to a recovery housing operator and paired with detached storage/garage space for specialty residential programming.
Where is this multifamily property located?
The property is located at 3000 S FIFTH ST Louisville, KY.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Currently leased to a recovery housing operator generating $5,500 per month in rental income; Year built: 1910 (large residential structure); Includes a detached storage/garage building
