Listing Agency: Gant Hill & Associates, LLC

Listed By: Danny Boehnlein · License #54973 Show Phone

Source: Kcrea.resimplifi

Added: Jun 23 Changed: Oct 4 Last Checked: Oct 16 at 5:52AM

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Investment Insights

Based on property information with market context.

This residential income portfolio comprises 62 properties totaling 78 doors, with a mix of single-family homes and duplex, triplex, and quadplex assets. The properties are assembled across south and west Louisville and carry R4 zoning in the available property information. The portfolio’s reported property size is 63,000 square feet.

The seller prefers a sale of the complete package but may consider smaller groupings of the West End properties. The South End properties are not available as a standalone package, and the Hazel Quad Plex is retained unless the entire portfolio is purchased.

Key Highlights

• 62 properties comprising 78 doors
• Mix of single‑family homes, duplexes, triplexes, and quadplexes
• Portfolio locations in south and west Louisville

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$608,117

Cap Rate

7.22%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$12,162,340 $12.2M

Cap Rate 7%

$8,687,386 $8.7M

Cap Rate 9%

$6,756,856 $6.8M

Is this asking price fair?

Market Conditions

NOI Build-Up for 63,000 SF

Gross rent

$945.0K $15.00/SF

− Vacancy

−$76.3K −$1.21/SF

EGI

$868.7K $13.79/SF

− OpEx

−$260.6K −$4.14/SF

NOI

$608.1K $9.65/SF

Area

ZIP 40214

Vacancy

8.07%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$12,162,340

Cap Rate 7%

$8,687,386

Cap Rate 9%

$6,756,856

Alternative Uses

Best Use

Multifamily LT 5

$8.69M

$7.60M – $10.14M (±1% cap)

NOI $608,117 @ 7.0% cap · market cap 7.22%

Second Best

Apartment 5plus

$7.88M

$6.90M – $9.19M (±1% cap)

NOI $551,663 @ 7.0% cap · market cap 6.55%

Theoretical Best

Office A

$15.10M

$13.21M – $17.61M (±1% cap)

NOI $1,056,707 @ 7.0% cap · market cap 12.54%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Parking Lot & Garage Hair Salon Spa & Massage Center Nail Salon Furniture & Home Goods

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

78

Residential units

Location Intelligence

Trade Area within ½ mile

333

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

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Multifamily property - Residential rental portfolio spanning south and west Louisville with a mix of detached homes and smaller multifamily properties.

Where is this multifamily property located?

The property is located at 905 Jones Dr Louisville, KY.

What is the asking price?

The asking price for this property is $8,424,000.

What are key features of this property?

This property features: 62 properties comprising 78 doors; Mix of single‑family homes, duplexes, triplexes, and quadplexes; Portfolio locations in south and west Louisville