10-Unit Apartment
For Sale
$1,150,000
430 Joy Ave, Mount Washington, KY 40047
Professionally managed multifamily property with onsite coin laundry and a mix of one- and two-bedroom units.
Property Size9,600 SF
Price / SF$119.79
Days on Market139
Property Features for 430 Joy Ave
General Information
Standard status
Active
Size
9,600 SF
Property subtype
Multifamily
Zoning
R2
Listing Agency:
PML Real Estate Group LLC
Listed By:
Brian Stocker · License #6689202
(502) 895-9136
Source:
Kcrea.resimplifi
Added: May 29
Changed: Oct 7
Last Checked: Oct 12 at 4:48PM
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 PML Real Estate Group LLC
Investment Insights
Based on property information with market context.
Located at 430 Joy Ave in Mt Washington, Kentucky, this 9,600-square-foot apartment property was built in 1997 and contains 10 residential units. The unit mix includes eight 2-bedroom, 1-bathroom apartments and two 1-bedroom, 1-bathroom apartments.
Onsite coin laundry supports the property’s resident amenities, while professional management is already in place. One vacant apartment is available for showings. Occupied units can be viewed during the due diligence period after an accepted offer, and a walk-through contingency may be included with a submitted offer. Rent rolls and financial statements are available upon request.
Onsite coin laundry supports the property’s resident amenities, while professional management is already in place. One vacant apartment is available for showings. Occupied units can be viewed during the due diligence period after an accepted offer, and a walk-through contingency may be included with a submitted offer. Rent rolls and financial statements are available upon request.
Key Highlights
- 10‑unit apartment property with 9,600 SF
- Unit mix includes eight 2‑bedroom, 1‑bathroom units and two 1‑bedroom, 1‑bathroom units
- Onsite coin laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$86,819
Cap Rate
7.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,736,380
$1.7M
Cap Rate 7%
$1,240,271
$1.2M
Cap Rate 9%
$964,656
$964.7K
Market Conditions
NOI Build-Up for 9,600 SF
Gross rent
$167.0K $17.40/SF
− Vacancy
−$9.2K −$0.96/SF
EGI
$157.9K $16.44/SF
− OpEx
−$71.0K −$7.40/SF
NOI
$86.8K $9.04/SF
Area
Bullitt County, KY
Vacancy
5.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,736,380
Cap Rate 7%
$1,240,271
Cap Rate 9%
$964,656
Alternative Uses
Best Use
Apartment 5plus
$1.24M
$1.09M – $1.45M
NOI $86,819 @ 7.0% cap · market cap 7.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.02M
$1.77M – $2.36M
NOI $141,668 @ 7.0% cap · market cap 12.32%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
245
Businesses Nearby
Explore this area
Business Placement
Demographics for 40047, KY
23,597
Population
8,975
Households
2.6
Avg Household Size
39
Median Age
25%
College-Educated
93%
High-School Grad
29.9 sq mi
ZIP Area
789
Density / Sq Mi
$93,609
Median Household Income
$49,807
Median Earnings
$935
Median Rent
$259,600
Median Home Value
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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?
Apartment building - Professionally managed multifamily property with onsite coin laundry and a mix of one- and two-bedroom units.
Where is this apartment building located?
The property is located at 430 Joy Ave Mount Washington, KY.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 10‑unit apartment property with 9,600 SF; Unit mix includes eight 2‑bedroom, 1‑bathroom units and two 1‑bedroom, 1‑bathroom units; Onsite coin laundry
