Renovated Four-Unit Parkside
For Sale
$399,000
Pending
628 E Oak St, Louisville, KY 40203
Four-unit residential income property with refreshed interiors, updated building systems, and a private rear deck facing Shelby Park.
Property Size3,202 SF
Days on Market189
Property Features for 628 E Oak St
General Information
Standard status
Pending
Size
3,202 SF
Property subtype
Multifamily
Zoning
R6
Amenities
Power
Water
Sewer
Natural Gas
Listing Agency:
Winner Realty
Listed By:
Rob Bergeron · License #219325
(502) 552-8519
Source:
Kcrea.resimplifi
Added: Apr 14
Changed: Oct 15
Last Checked: Oct 16 at 5:38AM
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 Winner Realty
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Investment Insights
Based on property information with market context.
Built in 1900, this four-unit quadplex includes one studio, two two-bedroom/one-bath units, and one three-bedroom/one-bath unit. The property has received substantial updates, with each apartment refreshed within the past five years. Improvements include siding, flooring, appliances, cabinets, countertops, and bathroom finishes, while a new roof adds another recent capital improvement.
The property is located at 628 E Oak St in Louisville, near Shelby Park and local businesses. A private rear deck overlooks the park, providing an outdoor feature associated with the property. Unit 3A is available for a pre-contract viewing; access to the remaining units is available during inspection after an accepted offer.
The property is located at 628 E Oak St in Louisville, near Shelby Park and local businesses. A private rear deck overlooks the park, providing an outdoor feature associated with the property. Unit 3A is available for a pre-contract viewing; access to the remaining units is available during inspection after an accepted offer.
Key Highlights
- Four‑unit configuration: one studio, two 2‑bed/1‑bath units, and one 3‑bed/1‑bath unit
- Each apartment refreshed within the past 5 years
- Updates include siding, flooring, appliances, cabinets, countertops, and bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,943
Cap Rate
6.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$538,860
$538.9K
Cap Rate 7%
$384,900
$384.9K
Cap Rate 9%
$299,367
$299.4K
Market Conditions
NOI Build-Up for 3,202 SF
Gross rent
$40.7K $12.72/SF
− Vacancy
−$2.2K −$0.70/SF
EGI
$38.5K $12.02/SF
− OpEx
−$11.5K −$3.61/SF
NOI
$26.9K $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%
$538,860
Cap Rate 7%
$384,900
Cap Rate 9%
$299,367
Alternative Uses
Best Use
Multifamily LT 5
$384.9K
$336.8K – $449.1K
NOI $26,943 @ 7.0% cap · market cap 6.75%
Second Best
Apartment 5plus
$311.3K
$272.4K – $363.2K
NOI $21,791 @ 7.0% cap · market cap 5.46%
Theoretical Best
Office A
$830.0K
$726.2K – $968.3K
NOI $58,097 @ 7.0% cap · market cap 14.56%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,104
Businesses Nearby
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Business Placement
Demographics for 40203, KY
16,801
Population
10,754
Households
1.6
Avg Household Size
37
Median Age
22%
College-Educated
86%
High-School Grad
2.9 sq mi
ZIP Area
5,793
Density / Sq Mi
$31,430
Median Household Income
$32,581
Median Earnings
$828
Median Rent
$179,300
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 - Four-unit residential income property with refreshed interiors, updated building systems, and a private rear deck facing Shelby Park.
Where is this quadplex located?
The property is located at 628 E Oak St Louisville, KY.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Four‑unit configuration: one studio, two 2‑bed/1‑bath units, and one 3‑bed/1‑bath unit; Each apartment refreshed within the past 5 years; Updates include siding, flooring, appliances, cabinets, countertops, and bathrooms
