4-Unit Quadplex with
For Sale
$439,900
3424 Shagbark Rd, Louisville, KY 40216
Four two-bedroom units include a mix of one- and two-bath layouts.
Property Size3,170 SF
Price / SF$138.77
Days on Market56
Property Features for 3424 Shagbark Rd
General Information
Standard status
Active
Size
3,170 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA, 2 x 2BR/2BA
Multifamily Units
4
Building Details
Year Built
1971
Buildings
1
Listing Agency:
ZHomes Real Estate
Listed By:
Lisbeisy Echeverria
(502) 435-2496
Source:
Familyrealty
Added: Aug 17
Changed: Sep 23
Last Checked: Oct 9 at 8:32PM
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 ZHomes Real Estate
Investment Insights
Based on property information with market context.
This four-unit residential property contains 3,266 SF and is fully occupied. Each unit has two bedrooms, with two units configured with one full bathroom and the remaining two offering two full bathrooms. Units 2 and 4 have received new flooring, fresh paint, updated bathrooms, and additional interior improvements.
Located at 3424 Shagbark Rd in Louisville, KY, the property offers four separate rental units under one ownership. Current tenant occupancy provides an established operating setup, while the varied bathroom configurations distinguish the individual units.
Located at 3424 Shagbark Rd in Louisville, KY, the property offers four separate rental units under one ownership. Current tenant occupancy provides an established operating setup, while the varied bathroom configurations distinguish the individual units.
Key Highlights
- Four‑unit quadplex with all units currently tenant‑occupied
- Each unit includes 2 bedrooms
- Two units have 1 full bathroom; two units have 2 full bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,333
Cap Rate
7.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$626,660
$626.7K
Cap Rate 7%
$447,614
$447.6K
Cap Rate 9%
$348,144
$348.1K
Market Conditions
NOI Build-Up for 3,170 SF
Gross rent
$48.7K $15.36/SF
− Vacancy
−$3.9K −$1.24/SF
EGI
$44.8K $14.12/SF
− OpEx
−$13.4K −$4.24/SF
NOI
$31.3K $9.88/SF
Area
ZIP 40216
Vacancy
8.07%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$626,660
Cap Rate 7%
$447,614
Cap Rate 9%
$348,144
Alternative Uses
Best Use
Multifamily LT 5
$447.6K
$391.7K – $522.2K
NOI $31,333 @ 7.0% cap · market cap 7.12%
Second Best
Apartment 5plus
$410.2K
$358.9K – $478.6K
NOI $28,715 @ 7.0% cap · market cap 6.53%
Theoretical Best
Office A
$813.0K
$711.4K – $948.5K
NOI $56,908 @ 7.0% cap · market cap 12.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
248
Businesses Nearby
Explore this area
Business Placement
Demographics for 40216, KY
43,434
Population
19,257
Households
2.3
Avg Household Size
40
Median Age
14%
College-Educated
87%
High-School Grad
15.7 sq mi
ZIP Area
2,766
Density / Sq Mi
$50,211
Median Household Income
$35,503
Median Earnings
$883
Median Rent
$154,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four two-bedroom units include a mix of one- and two-bath layouts.
Where is this quadplex located?
The property is located at 3424 Shagbark Rd Louisville, KY.
What is the asking price?
The asking price for this property is $439,900.
What are key features of this property?
This property features: Four‑unit quadplex with all units currently tenant‑occupied; Each unit includes 2 bedrooms; Two units have 1 full bathroom; two units have 2 full bathrooms
