5-Unit Apartment
For Sale
$340,000
4925 Southside Dr, Louisville, KY 40214
R6-zoned multifamily property with a three-bedroom-unit and two one-bedroom-unit configuration.
Property Size1,738 SF
Price / SF$195.63
Days on Market56
Property Features for 4925 Southside Dr
General Information
Standard status
Active
Size
1,738 SF
Property subtype
Multi-Family
Units
Unit Mix
3 x 2BR, 2 x 1BR
Multifamily Units
5
Building Details
Year Built
1906
Listing Agency:
BERKSHIRE HATHAWAY HomeServices, Parks & Weisberg Realtors
Listed By:
Kiara A Harriott · License #274248
(502) 416-3681
Source:
Familyrealty
Added: Jul 10
Changed: Aug 31
Last Checked: Sep 1 at 10:39PM
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 BERKSHIRE HATHAWAY HomeServices, Parks & Weisberg Realtors
Investment Insights
Based on property information with market context.
This R6-zoned apartment property contains five residential units within 4,226 square feet. The unit mix includes three two-bedroom apartments and two one-bedroom apartments. The building dates to 1906 and is situated on an oversized lot.
Units 1, 2, and 3 are occupied. The resident in Unit 4 is scheduled to move out on 10/31/2025, while the tenant in Unit 5 is expected to vacate soon. The property is located at 4925 Southside Dr in Louisville, Kentucky, with a 40214 ZIP code.
Units 1, 2, and 3 are occupied. The resident in Unit 4 is scheduled to move out on 10/31/2025, while the tenant in Unit 5 is expected to vacate soon. The property is located at 4925 Southside Dr in Louisville, Kentucky, with a 40214 ZIP code.
Key Highlights
- Five‑unit apartment property totaling 4,226 square feet
- Unit mix includes three 2‑bedroom units and two 1‑bedroom units
- R6 zoning
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
$15,219
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
4.48%
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%
$304,380
$304.4K
Cap Rate 7%
$217,414
$217.4K
Cap Rate 9%
$169,100
$169.1K
Market Conditions
NOI Build-Up for 1,738 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
$30.2K $17.40/SF
− Vacancy
−$2.6K −$1.48/SF
EGI
$27.7K $15.92/SF
− OpEx
−$12.5K −$7.16/SF
NOI
$15.2K $8.76/SF
Area
ZIP 40214
Vacancy
8.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
45.00%
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%
$304,380
Cap Rate 7%
$217,414
Cap Rate 9%
$169,100
Alternative Uses
Best Use
Apartment 5plus
$217.4K
$190.2K – $253.7K
NOI $15,219 @ 7.0% cap · market cap 4.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$416.5K
$364.4K – $485.9K
NOI $29,152 @ 7.0% cap · market cap 8.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
593
Businesses Nearby
Explore this area
Business Placement
Demographics for 40214, KY
46,220
Population
20,459
Households
2.3
Avg Household Size
37
Median Age
23%
College-Educated
85%
High-School Grad
15.0 sq mi
ZIP Area
3,081
Density / Sq Mi
$53,563
Median Household Income
$37,121
Median Earnings
$950
Median Rent
$176,700
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?
Apartment building - R6-zoned multifamily property with a three-bedroom-unit and two one-bedroom-unit configuration.
Where is this apartment building located?
The property is located at 4925 Southside Dr Louisville, KY.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: Five‑unit apartment property totaling 4,226 square feet; Unit mix includes three 2‑bedroom units and two 1‑bedroom units; R6 zoning
