Old Louisville Multifamily Investment
1337 S 4th St Louisville, KY 40208
1337 S 4th St, Louisville, KY, 40208
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For Sale
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Renovated 9-unit apartment building with parking and garages.
Property Size10,104 SF
Price / SF$123.71
Days on Market1161
Property Features for 1337 S 4th St
General Information
- Standard status
- Active
- Size
- 10,104 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1890
Listing Agency
Trust Realty USA
Listed by
Uri Segev · License #FL BK3238915
Source
Crexi
Added: May 18, 2023 Updated: Jul 6 at 7:59 am Checked: Jul 20 at 4:32 am
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 Trust Realty USA
Investment Insights
Based on property information with market context.
This is a 9-unit multifamily apartment building located in Old Louisville. The property has been recently renovated and restored. There are four private parking spaces and five separate garages available, which can be rented for additional income. An on-site coin laundry is present, contributing to the net operating income. Tenants are responsible for their electric bills and a pro-rata share of water consumption, as outlined in their leases. The property size is 10104 square feet. There is potential to increase rents to market rates as leases expire, which could raise the capitalization rate. All but one of the units are currently rented.
Key Highlights
- Prime location in Old Louisville.
- Recently renovated and restored building.
- Nine‑unit multi‑family apartment building.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $132.2k | $13.08 |
| − Vacancy | −$7.1k | −$0.71 |
| EGI | $125.0k | $12.37 |
| − OpEx | −$56.3k | −$5.57 |
| NOI | $68.8k | $6.81 |
10,104 SF · lease $13.08/SF/yr · vacancy 5.40% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$982.3K
$859.5K – $1.15M
NOI $68,763 @ 7.0% cap · market cap 5.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.62M
$2.29M – $3.06M
NOI $183,327 @ 7.0% cap · market cap 14.67%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Renovated 9-unit apartment building with parking and garages.
Where is this apartment building located?
The property is located at 1337 S 4th St Louisville, KY.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Prime location in Old Louisville.; Recently renovated and restored building.; Nine‑unit multi‑family apartment building.
