4-Unit Residential
For Sale
$435,000
Pending
602 Eastern Pkwy, Louisville, KY 40217
Multi Family, Louisville, KY
Property Size3,965 SF
Lot Size0.14 Acres
Days on Market18
Property Features for 602 Eastern Pkwy
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Bedrooms
6
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 3, Bedroom 6, Bathroom 2, Bedroom 5, Bathroom 1, Bathroom 4, Basement, Bedroom 4, Bathroom 3, Bedroom 1, Bathroom 5, Bedroom 2
Patio and Porch features
Porch
Lot features
Sidewalk
Directions
Eastern Pkwy to Bradley. Building is the second building from the corner of Bradley and Eastern Pkwy.
Subdivision
02-Butchertwn/Hghlnds/Germantwn
Standard status
Pending
APN
083B01590000
Size
3,965 SF
Lot size
0.14 Acres
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1960
Number of units
4
Listing Agency:
Homepage Realty
(502) 690-6685
Listed By:
Lizzie Cohen
(502) 649-1687
Added: Oct 2
Changed: Oct 18
Last Checked: Oct 19 at 7:06AM
MLS# 1730758
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.
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Investment Insights
Based on property information with market context.
This 3,965-square-foot quadplex contains four apartments: three with one bedroom and one bathroom each, plus a three-bedroom, two-bathroom unit. The building dates to 1960 and sits on a 0.14-acre lot. Heating is provided by natural gas and forced air, with central air conditioning.
All four units are occupied. Recent exterior work includes refreshed landscaping and a refinished deck.
All four units are occupied. Recent exterior work includes refreshed landscaping and a refinished deck.
Key Highlights
- Four occupied apartments: three 1‑bedroom, 1‑bath units and one 3‑bedroom, 2‑bath unit
- 3,965 square feet on a 0.14‑acre lot
- Built in 1960
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,363
Cap Rate
7.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$667,260
$667.3K
Cap Rate 7%
$476,614
$476.6K
Cap Rate 9%
$370,700
$370.7K
Market Conditions
NOI Build-Up for 3,965 SF
Gross rent
$50.4K $12.72/SF
− Vacancy
−$2.8K −$0.70/SF
EGI
$47.7K $12.02/SF
− OpEx
−$14.3K −$3.61/SF
NOI
$33.4K $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%
$667,260
Cap Rate 7%
$476,614
Cap Rate 9%
$370,700
Alternative Uses
Best Use
Multifamily LT 5
$476.6K
$417.0K – $556.1K
NOI $33,363 @ 7.0% cap · market cap 7.67%
Second Best
Apartment 5plus
$385.5K
$337.3K – $449.7K
NOI $26,984 @ 7.0% cap · market cap 6.20%
Theoretical Best
Office A
$1.03M
$899.3K – $1.20M
NOI $71,941 @ 7.0% cap · market cap 16.54%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
672
Businesses Nearby
Explore this area
Business Placement
Demographics for 40217, KY
13,061
Population
6,840
Households
1.9
Avg Household Size
36
Median Age
48%
College-Educated
95%
High-School Grad
2.4 sq mi
ZIP Area
5,442
Density / Sq Mi
$68,573
Median Household Income
$48,298
Median Earnings
$1,150
Median Rent
$220,700
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
Frequently Asked Questions
What type of property is this?
Quadplex - All four apartments are occupied, with three one-bedroom layouts and one three-bedroom layout.
Where is this quadplex located?
The property is located at 602 Eastern Pkwy Louisville, KY.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: Four occupied apartments: three 1‑bedroom, 1‑bath units and one 3‑bedroom, 2‑bath unit; 3,965 square feet on a 0.14‑acre lot; Built in 1960
