6-Unit Apartment
For Sale
$500,000
3217 Fordhaven Rd, Louisville, KY 40214
6 identical two-bedroom, one-bath units with dedicated laundry rooms and spacious kitchens in a 1973 building.
Property Size3,520 SF
Price / SF$142.05
Days on Market96
Property Features for 3217 Fordhaven Rd
General Information
Standard status
Active
Size
3,520 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Kenwood
Units
Unit Mix
6 x 2BR/1BA
Multifamily Units
6
Amenities
dedicated laundry room
Building Details
Year Built
1973
Listing Agency:
BERKSHIRE HATHAWAY HomeServices, Parks & Weisberg Realtors
Listed By:
Kiara A Harriott · License #274248
(502) 416-3681
Source:
Familyrealty
Added: Jul 28
Changed: Oct 25
Last Checked: Oct 7 at 4:28PM
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 BERKSHIRE HATHAWAY HomeServices, Parks & Weisberg Realtors
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Investment Insights
Based on property information with market context.
This well-maintained 6-unit apartment building features six identical units. Each unit offers two bedrooms and one bathroom, plus a dedicated laundry room and a spacious kitchen with ample cabinet and counter space. The functional layouts and generous living spaces are designed to support everyday tenant use.
The property is located at 3217 Fordhaven Rd in Louisville, KY 40214. It was built in 1973 and totals 5,270 SF.
The consistent unit design can simplify leasing and operations by providing a uniform offering across all six apartments.
The property is located at 3217 Fordhaven Rd in Louisville, KY 40214. It was built in 1973 and totals 5,270 SF.
The consistent unit design can simplify leasing and operations by providing a uniform offering across all six apartments.
Key Highlights
- 6 identical apartment units
- Each unit offers 2 bedrooms and 1 bathroom
- Dedicated laundry room in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,823
Cap Rate
6.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$616,460
$616.5K
Cap Rate 7%
$440,329
$440.3K
Cap Rate 9%
$342,478
$342.5K
Market Conditions
NOI Build-Up for 3,520 SF
Gross rent
$61.2K $17.40/SF
− Vacancy
−$5.2K −$1.48/SF
EGI
$56.0K $15.92/SF
− OpEx
−$25.2K −$7.16/SF
NOI
$30.8K $8.76/SF
Area
ZIP 40214
Vacancy
8.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$616,460
Cap Rate 7%
$440,329
Cap Rate 9%
$342,478
Alternative Uses
Best Use
Apartment 5plus
$440.3K
$385.3K – $513.7K
NOI $30,823 @ 7.0% cap · market cap 6.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$843.4K
$738.0K – $984.0K
NOI $59,041 @ 7.0% cap · market cap 11.81%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
123
Businesses Nearby
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Business Placement
Demographics for 40214, KY
46,220
Population
20,459
Households
2.3
Avg Household Size
37
Median Age
23%
College-Educated
85%
High-School Grad
15.0 sq mi
ZIP Area
3,081
Density / Sq Mi
$53,563
Median Household Income
$37,121
Median Earnings
$950
Median Rent
$176,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - 6 identical two-bedroom, one-bath units with dedicated laundry rooms and spacious kitchens in a 1973 building.
Where is this apartment building located?
The property is located at 3217 Fordhaven Rd 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: 6 identical apartment units; Each unit offers 2 bedrooms and 1 bathroom; Dedicated laundry room in each unit
