Fully Occupied 4-Unit
For Sale
$414,900
4116 Billtown Rd, Louisville, KY 40299
Four-unit property with a varied bedroom mix and central air throughout.
Property Size3,360 SF
Price / SF$123.48
Days on Market20
Property Features for 4116 Billtown Rd
General Information
Standard status
Active
Size
3,360 SF
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
2 x 1BR, 2 x 3BR
Multifamily Units
4
Additional Details
Road Access
Yes
Amenities
central air
Listing Agency:
Keller Williams Louisville
(502) 459-5509
Listed By:
Scott Breland · License #223472
(502) 727-8573
Source:
Exprealty
Added: Aug 23
Changed: Sep 7
Last Checked: Sep 11 at 5:38PM
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.
This 3,360-square-foot quadplex is fully occupied and configured with two 1-bedroom apartments and two 3-bedroom apartments. Each residence includes central air, a combined living and dining area, a kitchen, and closet storage. The 3-bedroom units add 1.5 baths and full-size laundry rooms with washer and dryer hookups.
The property is located along Billtown Rd in Jeffersontown, with access to shopping, employment, dining, and transportation. Its four-unit layout and varied unit mix provide a straightforward multifamily configuration.
The property is located along Billtown Rd in Jeffersontown, with access to shopping, employment, dining, and transportation. Its four-unit layout and varied unit mix provide a straightforward multifamily configuration.
Key Highlights
- Fully occupied 4‑unit quadplex
- 3,360 square feet with two 1‑bedroom and two 3‑bedroom units
- Central air, living/dining area, kitchen, and closet space in each unit
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
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit property with a varied bedroom mix and central air throughout.
Where is this quadplex located?
The property is located at 4116 Billtown Rd Louisville, 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: Fully occupied 4‑unit quadplex; 3,360 square feet with two 1‑bedroom and two 3‑bedroom units; Central air, living/dining area, kitchen, and closet space in each unit
