6-Unit Apartment
For Sale
$459,999
3409 Prestwood Dr, Louisville, KY 40219
Six residences offer matching two-bedroom layouts, laundry connections, and open living and dining areas.
Property Size5,103 SF
Price / SF$90.14
Days on Market38
Property Features for 3409 Prestwood Dr
General Information
Standard status
Active
Size
5,103 SF
Property subtype
Apartment
Units
Unit Mix
6 x 2BR/1BA
Multifamily Units
6
Additional Details
Highway Access
Yes
Tenant in Place
Yes
Building Details
Year Built
1968
Buildings
1
Listing Agency:
RE/MAX Premier Properties
Listed By:
Jay Pitts · License #207085
(502) 384-5944
Source:
Optlrealty
Added: Sep 30
Changed: Nov 5
Last Checked: Nov 5 at 9:07AM
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 RE/MAX Premier Properties
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Investment Insights
Based on property information with market context.
This 5,103-square-foot apartment building dates to 1968 and contains six units. Each residence has two bedrooms, one bathroom, laundry hookups, and an open arrangement connecting the living and dining areas. Five units are occupied, with one vacant.
The property is just off Preston Highway, with access to Fern Valley Road and I-65. The owner covers water and trash service; tenants pay LG&E and other utilities. Showings require 48 hours’ notice.
The property is just off Preston Highway, with access to Fern Valley Road and I-65. The owner covers water and trash service; tenants pay LG&E and other utilities. Showings require 48 hours’ notice.
Key Highlights
- Six units, each with 2 bedrooms and 1 bathroom
- 5,103 square feet; built in 1968
- Five units occupied and one vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,729
Cap Rate
7.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$694,580
$694.6K
Cap Rate 7%
$496,129
$496.1K
Cap Rate 9%
$385,878
$385.9K
Market Conditions
NOI Build-Up for 5,103 SF
Gross rent
$66.7K $13.08/SF
− Vacancy
−$3.6K −$0.71/SF
EGI
$63.1K $12.37/SF
− OpEx
−$28.4K −$5.57/SF
NOI
$34.7K $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 Rate 5%
$694,580
Cap Rate 7%
$496,129
Cap Rate 9%
$385,878
Alternative Uses
Best Use
Apartment 5plus
$496.1K
$434.1K – $578.8K
NOI $34,729 @ 7.0% cap · market cap 7.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.32M
$1.16M – $1.54M
NOI $92,589 @ 7.0% cap · market cap 20.13%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
6
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
669
Businesses Nearby
Explore this area
Business Placement
Demographics for 40219, KY
40,300
Population
16,699
Households
2.4
Avg Household Size
37
Median Age
20%
College-Educated
87%
High-School Grad
14.9 sq mi
ZIP Area
2,705
Density / Sq Mi
$52,271
Median Household Income
$37,108
Median Earnings
$967
Median Rent
$186,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Louisville, KY
Properties on Market for Apartment buildings in Louisville
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Six residences offer matching two-bedroom layouts, laundry connections, and open living and dining areas.
Where is this apartment building located?
The property is located at 3409 Prestwood Dr Louisville, KY.
What is the asking price?
The asking price for this property is $459,999.
What are key features of this property?
This property features: Six units, each with 2 bedrooms and 1 bathroom; 5,103 square feet; built in 1968; Five units occupied and one vacant
