Brick
For Sale
$350,000
4227 Glen Hill Manor Dr, Louisville, KY 40272
Multi Family, Louisville, KY
Property Size3,234 SF
Lot Size137.76 Acres
Price / SF$108.23
Days on Market18
Property Features for 4227 Glen Hill Manor Dr
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 8, Bathroom 1, Bedroom 1, Bedroom 7, Bedroom 3, Bedroom 6, Bedroom 4, Bathroom 3, Bathroom 4, Bathroom 2, Bedroom 2, Bedroom 5
Subdivision
GLEN HILL MANOR
Directions
From I-264, take Dixie Hwy south to Valley Station Rd. Turn right on Valley Station Rd, right on Grafton Hall Rd, then left onto Glen Hill Manor Dr. Property is on the left.
Standard status
Active
APN
24148300860000
Size
3,234 SF
Lot size
137.76 Acres
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1999
Number of units
4
Building materials
Brick
Roof type
Shingle
Architectural style
Other
Listing Agency:
Keller Williams Collective · Keller Williams Realty
(502) 554-9500
Listed By:
Leah Plush-Ches
(502) 492-3370
Added: Aug 17
Changed: Sep 3
Last Checked: Sep 3 at 6:06PM
MLS# 1726507
Copyright © 2026 Greater Louisville Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This brick quadplex contains four residential units, each arranged with two bedrooms and one full bathroom. The property provides approximately 3,234 square feet with eight bedrooms and four full bathrooms in total. Built in 1999, the building has electric heat, central air conditioning, a shingle roof, and public water and sewer service.
The property is in Louisville’s Valley Station area near Dixie Highway, with shopping, dining, and other amenities nearby. The units are currently occupied by tenants. Showings require additional advance notice, and tenants should not be disturbed during visits.
The property is in Louisville’s Valley Station area near Dixie Highway, with shopping, dining, and other amenities nearby. The units are currently occupied by tenants. Showings require additional advance notice, and tenants should not be disturbed during visits.
Key Highlights
- Four 2‑bedroom, 1‑bath units
- Approximately 3,234 square feet with 8 bedrooms and 4 full bathrooms
- Brick construction with shingle roof
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
$27,212
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
7.77%
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%
$544,240
$544.2K
Cap Rate 7%
$388,743
$388.7K
Cap Rate 9%
$302,356
$302.4K
Market Conditions
NOI Build-Up for 3,234 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
$41.1K $12.72/SF
− Vacancy
−$2.3K −$0.70/SF
EGI
$38.9K $12.02/SF
− OpEx
−$11.7K −$3.61/SF
NOI
$27.2K $8.41/SF
Area
Louisville, KY
Vacancy
5.50%
Lease Rate
$12.72 /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%
$544,240
Cap Rate 7%
$388,743
Cap Rate 9%
$302,356
Alternative Uses
Best Use
Multifamily LT 5
$388.7K
$340.2K – $453.5K
NOI $27,212 @ 7.0% cap · market cap 7.77%
Second Best
Apartment 5plus
$314.4K
$275.1K – $366.8K
NOI $22,009 @ 7.0% cap · market cap 6.29%
Theoretical Best
Office A
$838.3K
$733.5K – $978.0K
NOI $58,678 @ 7.0% cap · market cap 16.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
44
Businesses Nearby
Explore this area
Business Placement
Demographics for 40272, KY
37,747
Population
15,469
Households
2.4
Avg Household Size
39
Median Age
19%
College-Educated
90%
High-School Grad
33.3 sq mi
ZIP Area
1,134
Density / Sq Mi
$66,382
Median Household Income
$37,644
Median Earnings
$1,147
Median Rent
$169,700
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?
Quadplex - Tenant-occupied residential income property with four two-bedroom units and centralized cooling.
Where is this quadplex located?
The property is located at 4227 Glen Hill Manor Dr Louisville, KY.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Four 2‑bedroom, 1‑bath units; Approximately 3,234 square feet with 8 bedrooms and 4 full bathrooms; Brick construction with shingle roof
