Four-Unit Apartment
For Sale
$430,000
4342 Newport Rd, Louisville, KY 40218
Fully occupied apartment building with basement storage, laundry hookups, and updated major systems.
Property Size3,430 SF
Price / SF$125.36
Days on Market54
Property Features for 4342 Newport Rd
General Information
Standard status
Active
Size
3,430 SF
Property subtype
Multi-Family
Occupancy
100%
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Amenities
laundry hookups
private storage areas
Building Details
Year Built
1972
Year Renovated
2018
Tenancy
Multi
Listing Agency:
Schuler Bauer Real Estate Services ERA Powered
Listed By:
Terry Golladay
(502) 426-3600
Source:
Familyrealty
Added: Aug 19
Changed: Oct 10
Last Checked: Oct 7 at 4:49PM
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 Schuler Bauer Real Estate Services ERA Powered
Investment Insights
Based on property information with market context.
This four-unit apartment property contains four occupied two-bedroom, one-bath residences within 3,430 square feet. Each apartment includes laundry hookups, while the basement adds separate laundry connections and private storage areas. Roof, HVAC systems, appliances, and pavement were replaced or improved in 2018.
The property is within walking distance of GE, FedEX TARC bus lines, ALDI, and other everyday amenities. The owner pays water, sewer, and trash pickup; tenants are responsible for electric and gas service. The property may also be acquired together with 4920 Cawood Drive, located down the street.
The property is within walking distance of GE, FedEX TARC bus lines, ALDI, and other everyday amenities. The owner pays water, sewer, and trash pickup; tenants are responsible for electric and gas service. The property may also be acquired together with 4920 Cawood Drive, located down the street.
Key Highlights
- Four fully occupied 2 bedroom, 1 bath apartments
- 3,430 square feet with basement storage areas
- Laundry hookups in each unit plus additional basement hookups
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,861
Cap Rate
6.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$577,220
$577.2K
Cap Rate 7%
$412,300
$412.3K
Cap Rate 9%
$320,678
$320.7K
Market Conditions
NOI Build-Up for 3,430 SF
Gross rent
$43.6K $12.72/SF
− Vacancy
−$2.4K −$0.70/SF
EGI
$41.2K $12.02/SF
− OpEx
−$12.4K −$3.61/SF
NOI
$28.9K $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 Rate 5%
$577,220
Cap Rate 7%
$412,300
Cap Rate 9%
$320,678
Alternative Uses
Best Use
Multifamily LT 5
$412.3K
$360.8K – $481.0K
NOI $28,861 @ 7.0% cap · market cap 6.71%
Second Best
Apartment 5plus
$333.5K
$291.8K – $389.1K
NOI $23,343 @ 7.0% cap · market cap 5.43%
Theoretical Best
Office A
$889.1K
$777.9K – $1.04M
NOI $62,234 @ 7.0% cap · market cap 14.47%
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
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
209
Businesses Nearby
Explore this area
Business Placement
Demographics for 40218, KY
33,437
Population
14,697
Households
2.3
Avg Household Size
36
Median Age
29%
College-Educated
89%
High-School Grad
9.0 sq mi
ZIP Area
3,715
Density / Sq Mi
$56,191
Median Household Income
$35,784
Median Earnings
$1,059
Median Rent
$195,600
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?
Quadplex - Fully occupied apartment building with basement storage, laundry hookups, and updated major systems.
Where is this quadplex located?
The property is located at 4342 Newport Rd Louisville, KY.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: Four fully occupied 2 bedroom, 1 bath apartments; 3,430 square feet with basement storage areas; Laundry hookups in each unit plus additional basement hookups
