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    1337 4Th St Louisville, KY 40208

    Sponsored
    For Sale
    $1,250,000

    Historic Charm, High NOI, Strong Cash Flow

    Property size:
    10,104 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional three-story apartment building, located at 1337 S 4th St in Louisville, Kentucky's vibrant Old Louisville neighborhood, presents a compelling investment opportunity. Built in 1890 and extensively renovated in 2020, this property boasts 10,104 square feet and comprises nine residential units, currently enjoying an 89% occupancy rate. Four private parking spaces and five separate garages provide additional income potential, supplementing the existing net operating income (NOI) of $69,500, which translates to a 5.56% capitalization rate. The building features an on-site coin-operated laundry facility, further enhancing profitability. Each unit is individually metered for electricity, with tenants sharing water costs according to their lease agreements. The asking price is $1,250,000, or $138,889 per unit. With the potential to increase rents to market value as leases expire, this property offers significant upside for future returns. The property is situated in Jefferson County, Kentucky, zip code 40208. This is a rare opportunity to acquire a well-maintained, income-producing asset in a desirable and historic location.

    Property Features for 1337 4Th St

    General Information

    Property type
    Multifamily properties
    Square Feet
    10,104 SF

    Building Details

    Year Built/Renovated
    1890/2020
    Buildings
    1
    Stories
    3
    Units
    9
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Law Firm Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Louisville
    County
    Jefferson
    State
    Kentucky
    Longitude
    -85.7606395
    Latitude
    38.2312434

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    FAQs

    What type of property is this?
    Multifamily property - Historic Charm, High NOI, Strong Cash Flow
    Where is this multifamily property located?
    The property is located at 1337 4Th St Louisville, KY.
    What is the asking price?
    The asking price for this property is $1,250,000.
    Request Owner's contact information
    1337 4Th St Louisville, KY 40208
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    Louisville, KY 40208
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1337 4Th St Louisville, KY 40208
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