Occupied Four-Unit
New
For Sale
$414,900
4116 Billtown Rd, Jeffersontown, KY 40299
Fully occupied multifamily property with varied unit layouts, central air, and convenient access to shopping, employment, dining, and transportation.
Property Size3,360 SF
Price / SF$123.48
Days on Market3
Property Features for 4116 Billtown Rd
General Information
Standard status
Active
Size
3,360 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 1BR, 2 x 3BR/1.5BA
Multifamily Units
4
Additional Details
Road Access
Yes
Amenities
central air
washer/dryer hookups
Building Details
Year Built
1971
Listing Agency:
Keller Williams Louisville
Listed By:
Scott Breland · License #223472
(502) 459-5509
Source:
Familyrealty
Added: Sep 9
Changed: Sep 10
Last Checked: Sep 11 at 4:11PM
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 Keller Williams Louisville
Investment Insights
Based on property information with market context.
Built in 1971, this 3,360-square-foot quadplex contains four residential units, including two one-bedroom apartments and two three-bedroom apartments. The property is fully occupied. Each residence includes central air conditioning, a living and dining area, a kitchen, and closet storage. The three-bedroom units also provide 1.5 baths and full-size laundry rooms with washer and dryer hookups.
The property is positioned along Billtown Rd in Jeffersontown, with access to shopping, employment, dining, and transportation. The combination of a four-unit configuration and multiple floor-plan types supports an established multifamily operation.
The property is positioned along Billtown Rd in Jeffersontown, with access to shopping, employment, dining, and transportation. The combination of a four-unit configuration and multiple floor-plan types supports an established multifamily operation.
Key Highlights
- Four‑unit multifamily property with two 1‑bedroom and two 3‑bedroom units
- Fully occupied residential property
- 3,360 square feet built in 1971
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$30,763
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.41%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$615,260
$615.3K
Cap Rate 7%
$439,471
$439.5K
Cap Rate 9%
$341,811
$341.8K
Market Conditions
NOI Build-Up for 3,360 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$46.4K $13.80/SF
− Vacancy
−$2.4K −$0.72/SF
EGI
$43.9K $13.08/SF
− OpEx
−$13.2K −$3.92/SF
NOI
$30.8K $9.16/SF
Area
ZIP 40299
Vacancy
5.22%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$615,260
Cap Rate 7%
$439,471
Cap Rate 9%
$341,811
Alternative Uses
Best Use
Multifamily LT 5
$439.5K
$384.5K – $512.7K
NOI $30,763 @ 7.0% cap · market cap 7.41%
Second Best
Apartment 5plus
$404.2K
$353.6K – $471.5K
NOI $28,291 @ 7.0% cap · market cap 6.82%
Theoretical Best
Office A
$822.5K
$719.7K – $959.6K
NOI $57,577 @ 7.0% cap · market cap 13.88%
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
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
256
Businesses Nearby
Explore this area
Business Placement
Demographics for 40299, KY
43,030
Population
17,567
Households
2.4
Avg Household Size
41
Median Age
41%
College-Educated
95%
High-School Grad
54.0 sq mi
ZIP Area
797
Density / Sq Mi
$85,419
Median Household Income
$50,427
Median Earnings
$1,290
Median Rent
$274,900
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied multifamily property with varied unit layouts, central air, and convenient access to shopping, employment, dining, and transportation.
Where is this quadplex located?
The property is located at 4116 Billtown Rd Jeffersontown, KY.
What is the asking price?
The asking price for this property is $414,900.
What are key features of this property?
This property features: Four‑unit multifamily property with two 1‑bedroom and two 3‑bedroom units; Fully occupied residential property; 3,360 square feet built in 1971
