Multifamily Rental
For Sale
Contact for pricing
4001 3944-46 4103 & 4118 South Third Street, Louisville, KY 40214
Portfolio includes a five-plex, an eight-plex, a duplex, and a single-family home with only two vacancies.
Property SizeContact for details
Days on Market124
Property Features for 4001 3944-46 4103 & 4118 South Third Street
General Information
Standard status
Active
Property subtype
Multifamily
Additional Details
Cap Rate
9%
Multifamily Units
16
Listing Agency:
Don Erler Real Estate & Auction
Listed By:
Don Erler · License #KY 34133
Source:
Crexi
Added: Apr 11
Changed: Aug 8
Last Checked: Jul 21 at 2:00PM
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 Don Erler Real Estate & Auction
Investment Insights
Based on property information with market context.
This for-sale rental portfolio consists of four income properties positioned on the South Third Street Corridor, including a five-plex (4001 South 3rd), an eight-plex (3944-46 South 3rd), a duplex (4103 South 3rd), and a single-family home (4118 South 3rd). The seller states the existing rent roll is solid, with only two vacancies and three units that require completion work at the time of listing. The listing also notes that kitchen appliances are provided by the landlord.
All properties are located within two blocks of one another in a popular rental neighborhood. Showings are available 12–5 PM Monday through Friday, with the seller holding units vacant for showing purposes; showings of all properties are available with an accepted offer.
The portfolio is being offered at a 9 CAP rate based on 2017 estimated financials, with the note that 2017 figures included substantial upgrade costs. The remarks further indicate that many upgrades were completed in the past five years, and the seller may consider offers on individual properties in the portfolio.
All properties are located within two blocks of one another in a popular rental neighborhood. Showings are available 12–5 PM Monday through Friday, with the seller holding units vacant for showing purposes; showings of all properties are available with an accepted offer.
The portfolio is being offered at a 9 CAP rate based on 2017 estimated financials, with the note that 2017 figures included substantial upgrade costs. The remarks further indicate that many upgrades were completed in the past five years, and the seller may consider offers on individual properties in the portfolio.
Key Highlights
- Portfolio of four rental properties on South Third Street Corridor near Churchill Downs: 4001, 3944‑46, 4103, and 4118 South 3rd
- Unit mix includes a five‑plex, eight‑plex, duplex, and single‑family home—all within 2 blocks of one another
- Solid rent roll with only two vacancies; three units need completion work and are held vacant for showing purposes
Property Analytics
Property Profile
Current Use
Lease Details
16
Residential units
Location Intelligence
Trade Area within ½ mile
605
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Portfolio includes a five-plex, an eight-plex, a duplex, and a single-family home with only two vacancies.
Where is this apartment building located?
The property is located at 4001 3944-46 4103 & 4118 South Third Street Louisville, KY.
What are key features of this property?
This property features: Portfolio of four rental properties on South Third Street Corridor near Churchill Downs: 4001, 3944‑46, 4103, and 4118 South 3rd; Unit mix includes a five‑plex, eight‑plex, duplex, and single‑family home—all within 2 blocks of one another; Solid rent roll with only two vacancies; three units need completion work and are held vacant for showing purposes
