8-Unit Neoclassical Apartment
502 Belgravia Ct, Louisville, KY 40208
For Sale
$497,500
The two-building offering combines an occupied unit mix with period architectural details and a shared gated yard.
Property Size3,584 SF
Price / SF$138.81
Days on Market16
Property Features for 502 Belgravia Ct
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Amenities
shared backyard
Building Details
Year Built
Buildings
Construction
Listing Agency:
PML Real Estate Group LLC
Listed By:
Joe Barnett · License KY #222553
(502) 895-9136
Source:
Exprealty
Added: Oct 30
Changed: Nov 12
Last Checked: Nov 12 at 2:18PM
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
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Investment Insights
Based on property information with market context.
Offered together, the two apartment buildings contain 3,584 square feet and eight occupied residences: six one-bedroom, one-bath units, one two-bedroom, one-bath unit, and one studio. One residence is owner-occupied, while seven are rented. Many apartments retain exposed brick, and the property also features original wood floor inlays and crown molding. A fenced, gated backyard is shared by the buildings.
Dating to 1890, the Neoclassical property is distinguished by buff brick, paired Roman Doric porticos, oval windows, and dentil molding. The buildings sit at the southwest entrance to St. James Court and Belgravia Court, near the St. James Art Show.
Dating to 1890, the Neoclassical property is distinguished by buff brick, paired Roman Doric porticos, oval windows, and dentil molding. The buildings sit at the southwest entrance to St. James Court and Belgravia Court, near the St. James Art Show.
Key Highlights
- Two buildings offered together with 3,584 square feet and eight occupied units
- Unit mix: six 1BR/1BA residences, one 2BR/1BA residence, and one studio
- One unit is owner‑occupied; the other seven are rented
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,391
Cap Rate
4.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$487,820
$487.8K
Cap Rate 7%
$348,443
$348.4K
Cap Rate 9%
$271,011
$271.0K
Market Conditions
NOI Build-Up for 3,584 SF
Gross rent
$46.9K $13.08/SF
− Vacancy
−$2.5K −$0.71/SF
EGI
$44.3K $12.37/SF
− OpEx
−$20.0K −$5.57/SF
NOI
$24.4K $6.81/SF
Area
Louisville, KY
Vacancy
5.40%
Lease Rate
$13.08 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$487,820
Cap Rate 7%
$348,443
Cap Rate 9%
$271,011
Alternative Uses
Best Use
Apartment 5plus
$348.4K
$304.9K – $406.5K
NOI $24,391 @ 7.0% cap · market cap 4.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$929.0K
$812.9K – $1.08M
NOI $65,028 @ 7.0% cap · market cap 13.07%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
1,002
Businesses Nearby
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Business Placement
Demographics for 40208, KY
17,048
Population
6,675
Households
2.6
Avg Household Size
27
Median Age
34%
College-Educated
88%
High-School Grad
2.6 sq mi
ZIP Area
6,557
Density / Sq Mi
$37,714
Median Household Income
$17,255
Median Earnings
$914
Median Rent
$153,100
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Louisville, KY
Properties on Market for Apartment buildings in Louisville
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - The two-building offering combines an occupied unit mix with period architectural details and a shared gated yard.
Where is this apartment building located?
The property is located at 502 Belgravia Ct Louisville, KY.
What is the asking price?
The asking price for this property is $497,500.
What are key features of this property?
This property features: Two buildings offered together with 3,584 square feet and eight occupied units; Unit mix: six 1BR/1BA residences, one 2BR/1BA residence, and one studio; One unit is owner‑occupied; the other seven are rented
