Six-Unit Apartment
For Sale
$510,000
6506 Hackel Dr, Louisville, KY 40258
Updated multifamily property with open-concept units, in-unit laundry hookups, dishwashers, and on-site storage buildings.
Property Size3,430 SF
Price / SF$148.69
Days on Market90
Property Features for 6506 Hackel Dr
General Information
Standard status
Active
Size
3,430 SF
Property subtype
Residential Income
Units
Unit Mix
6 x 2BR/1BA
Multifamily Units
6
Amenities
washer/dryer hookups
dishwashers
storage units
Listing Agency:
Falls City REALTORS
(502) 396-4478
Listed By:
Chacoby C Porter
(502) 396-4478
Source:
Exprealty
Added: May 14
Changed: Aug 5
Last Checked: Aug 10 at 8:10AM
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 Falls City REALTORS
Investment Insights
Based on property information with market context.
Located at 6506 Hackel Dr in Louisville, Kentucky, this apartment building contains six 2BR/1BA units totaling 3,430 square feet. Four apartments were updated within the past two years, while the remaining mechanical systems have been serviced and are reported to be in good working condition. Unit interiors include open-concept layouts, washer/dryer hookups, and dishwashers.
The property also includes four 6x10 storage units, adding supplemental on-site storage to the apartment configuration. The combination of renovated units, practical in-unit features, and separately identified storage facilities provides a straightforward multifamily asset for continued operation.
The property also includes four 6x10 storage units, adding supplemental on-site storage to the apartment configuration. The combination of renovated units, practical in-unit features, and separately identified storage facilities provides a straightforward multifamily asset for continued operation.
Key Highlights
- Six 2BR/1BA apartment units totaling 3,430 square feet
- Four units updated within the past two years
- Washer/dryer hookups and dishwashers in each unit
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
$23,343
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
4.58%
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%
$466,860
$466.9K
Cap Rate 7%
$333,471
$333.5K
Cap Rate 9%
$259,367
$259.4K
Market Conditions
NOI Build-Up for 3,430 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
$44.9K $13.08/SF
− Vacancy
−$2.4K −$0.71/SF
EGI
$42.4K $12.37/SF
− OpEx
−$19.1K −$5.57/SF
NOI
$23.3K $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 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%
$466,860
Cap Rate 7%
$333,471
Cap Rate 9%
$259,367
Alternative Uses
Best Use
Apartment 5plus
$333.5K
$291.8K – $389.1K
NOI $23,343 @ 7.0% cap · market cap 4.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$889.1K
$777.9K – $1.04M
NOI $62,234 @ 7.0% cap · market cap 12.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
162
Businesses Nearby
Explore this area
Business Placement
Demographics for 40258, KY
26,807
Population
11,568
Households
2.3
Avg Household Size
39
Median Age
15%
College-Educated
88%
High-School Grad
11.7 sq mi
ZIP Area
2,291
Density / Sq Mi
$66,263
Median Household Income
$42,525
Median Earnings
$1,146
Median Rent
$173,100
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 - Updated multifamily property with open-concept units, in-unit laundry hookups, dishwashers, and on-site storage buildings.
Where is this apartment building located?
The property is located at 6506 Hackel Dr Louisville, KY.
What is the asking price?
The asking price for this property is $510,000.
What are key features of this property?
This property features: Six 2BR/1BA apartment units totaling 3,430 square feet; Four units updated within the past two years; Washer/dryer hookups and dishwashers in each unit
