14-Unit Apartment
For Sale
$1,050,000
3610 Del Park Terrace, Louisville, KY 40211
One-bedroom units feature individual LG&E metering, with shared water and sewer service.
Property Size9,824 SF
Price / SF$106.88
Days on Market71
Property Features for 3610 Del Park Terrace
General Information
Standard status
Active
Size
9,824 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
12 x 1BR/1BA (550+ SF), 2 x 1BR/1BA (800+ SF)
Multifamily Units
14
Additional Details
Gross Income
$96,000
Building Details
Year Built
1929
Listing Agency:
Colliers
Listed By:
Desmond Martin · License #KENTUCKY276420
(502) 553-3296
Source:
Familyrealty
Added: Aug 8
Changed: Oct 8
Last Checked: Oct 16 at 2:17PM
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 Colliers
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Investment Insights
Based on property information with market context.
Built in 1929, this 9,824-square-foot apartment building contains 14 one-bedroom, one-bath units. Twelve apartments measure approximately 550+ SF, while two larger units measure approximately 800+ SF. Four units are currently vacant, including two that have recently been renovated and are in lease-up. Recent ownership improvements have addressed portions of the property’s near-term capital needs.
Each apartment is individually metered for LG&E, while water and sewer are common services. The property is in West Louisville with access to I-264 and major Louisville corridors. It also benefits from nearby community investment and redevelopment activity.
Each apartment is individually metered for LG&E, while water and sewer are common services. The property is in West Louisville with access to I-264 and major Louisville corridors. It also benefits from nearby community investment and redevelopment activity.
Key Highlights
- 14‑unit apartment building with an all one‑bedroom, one‑bath unit mix
- 12 units approximately 550+ SF; 2 units approximately 800+ SF
- Four current vacancies, including two recently renovated units in lease‑up
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$66,857
Cap Rate
6.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,337,140
$1.3M
Cap Rate 7%
$955,100
$955.1K
Cap Rate 9%
$742,856
$742.9K
Market Conditions
NOI Build-Up for 9,824 SF
Gross rent
$128.5K $13.08/SF
− Vacancy
−$6.9K −$0.71/SF
EGI
$121.6K $12.37/SF
− OpEx
−$54.7K −$5.57/SF
NOI
$66.9K $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%
$1,337,140
Cap Rate 7%
$955,100
Cap Rate 9%
$742,856
Alternative Uses
Best Use
Apartment 5plus
$955.1K
$835.7K – $1.11M
NOI $66,857 @ 7.0% cap · market cap 6.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.55M
$2.23M – $2.97M
NOI $178,247 @ 7.0% cap · market cap 16.98%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
14
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
419
Businesses Nearby
Explore this area
Business Placement
Demographics for 40211, KY
21,310
Population
11,450
Households
1.9
Avg Household Size
37
Median Age
11%
College-Educated
86%
High-School Grad
7.3 sq mi
ZIP Area
2,919
Density / Sq Mi
$32,598
Median Household Income
$28,245
Median Earnings
$925
Median Rent
$97,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - One-bedroom units feature individual LG&E metering, with shared water and sewer service.
Where is this apartment building located?
The property is located at 3610 Del Park Terrace Louisville, KY.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 14‑unit apartment building with an all one‑bedroom, one‑bath unit mix; 12 units approximately 550+ SF; 2 units approximately 800+ SF; Four current vacancies, including two recently renovated units in lease‑up
