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Fern Creek Multifamily Investment Opportunity

3400 Lesway Ct, Louisville, KY 40220

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For Sale

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Well-maintained 12-unit property in desirable Fern Creek/Hikes Point area.

Type:Multifamily

Property size:

11,955 SF

Price / SF:

$97/SF

HighLights

All large 2BR/1BA units (average 887 SF) in desirable Fern Creek/Hikes Point area.
Separately metered for LG&E with individual HVAC systems and hot water heaters for each unit.
Most units renovated with updated kitchens and bathrooms.
Excellent investment opportunity with upside potential due to under market rents.
Ample off‑street parking.
Eight units feature balconies with sliding glass doors.

We can help!

Contact an agent

Katie Renfro

For Sale

Contact for pricing

Well-maintained 12-unit property in desirable Fern Creek/Hikes Point area.

Type:Multifamily

Property size:

11,955 SF

Price / SF:

$97/SF

Added:: Mar 5, 2026
Days on Market:: 124
Last Refresh:: Jun 27 at 12:05 pm

Property Features for 3400 Lesway Ct

General Information

Standard status: Active
Size: 11,955 SF
Property subtype: Multifamily

Building Details

Year Built: 1972

We can help!

Contact an agent

Katie Renfro

Listing office United Real Estate Louisville

Listing date Mar 5, 2026

Source Crexi

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 United Real Estate Louisville

HighLights

All large 2BR/1BA units (average 887 SF) in desirable Fern Creek/Hikes Point area.
Separately metered for LG&E with individual HVAC systems and hot water heaters for each unit.
Most units renovated with updated kitchens and bathrooms.
Excellent investment opportunity with upside potential due to under market rents.
Ample off‑street parking.
Eight units feature balconies with sliding glass doors.

Overview

This 12-unit property is located in the Fern Creek/Hikes Point area. The property consists of all large 2-bedroom, 1-bathroom units, with an average size of 887 square feet each. Each apartment has its own HVAC system and hot water heater and is separately metered for LG&E. Most units have been renovated, featuring a mix of LVP and carpet flooring, along with updated kitchens and bathrooms. Most units include dishwashers, eight units have balconies with sliding glass doors, and two units have additional alcove space. Coin-operated laundry is available in the lower level. Ample off-street parking is provided. The property size is 11,955 square feet. This property presents an opportunity to invest in a well-maintained asset, with upside potential through some under-market rents.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$156.4k	$13.08
− Vacancy	−$8.4k	−$0.71
EGI	$147.9k	$12.37
− OpEx	−$66.6k	−$5.57
NOI	$81.4k	$6.81

11,955 SF · lease $13.08/SF/yr · vacancy 5.40% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$1.16M

$1.02M – $1.36M (±1% cap)

NOI $81,360 @ 7.0% cap · market cap 6.99%

Second Best

—

no second resolved use

Theoretical Best

Office A

$3.10M

$2.71M – $3.62M (±1% cap)

NOI $216,912 @ 7.0% cap · market cap 18.64%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Location Insight

Map
Local Demand

City: Louisville
County: Jefferson
State: Kentucky
Longitude: -85.6218811
Latitude: 38.1978524

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For sale
Apartment buildings
KY
Louisville
40220
3400 Lesway Ct

What type of property is this?

Apartment building - Well-maintained 12-unit property in desirable Fern Creek/Hikes Point area.

Where is this apartment building located?

The property is located at 3400 Lesway Ct Louisville, KY.

What is the asking price?

The asking price for this property is $1,164,000.

What are key features of this property?

This property features: All large 2BR/1BA units (average 887 SF) in desirable Fern Creek/Hikes Point area.; Separately metered for LG&E with individual HVAC systems and hot water heaters for each unit.; Most units renovated with updated kitchens and bathrooms.