Operating Short-Term Rental
For Sale
$335,000
934 E Muhammad Ali Blvd, Louisville, KY 40204
Operating short-term rental with renovated baths, updated kitchen, self check-in, and an option to include furnishings.
Property Size1,793 SF
Price / SF$186.84
Days on Market238
Property Features for 934 E Muhammad Ali Blvd
General Information
Standard status
Active
Size
1,793 SF
Property subtype
Hospitality
Zoning
OR2
Site & Location
Neighborhood
Phoenix Hill
Listing Agency:
Winner Realty
Listed By:
Madison Meredith · License #279604
(502) 974-1401
Source:
Kcrea.resimplifi
Added: Mar 4
Changed: Oct 25
Last Checked: Oct 28 at 4:42AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,793-square-foot short-term rental property is currently operating as an Airbnb in Louisville’s Phoenix Hill corridor. The interior includes an updated kitchen with granite countertops and new appliances, renovated bathrooms, an open living area with natural light, high-speed internet, and a self check-in system. A washer and dryer are located on site, and the property includes a private backyard, street parking, and one off-street space.
The property is approximately 3 minutes from Downtown Louisville and about 15 minutes from Churchill Downs, Louisville International Airport, and the Expo Center. It is zoned OR2 and is legally nonconforming under Louisville’s short-term rental ordinance, with no conditional use permit required. Furnishings and operating components may remain in place as part of the acquisition.
The property is approximately 3 minutes from Downtown Louisville and about 15 minutes from Churchill Downs, Louisville International Airport, and the Expo Center. It is zoned OR2 and is legally nonconforming under Louisville’s short-term rental ordinance, with no conditional use permit required. Furnishings and operating components may remain in place as part of the acquisition.
Key Highlights
- Active Airbnb operation with 1,793 square feet of property
- Legally nonconforming under Louisville’s short‑term rental ordinance; no conditional use permit required
- Approximately 3 minutes from Downtown Louisville
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,202
Cap Rate
3.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$244,040
$244.0K
Cap Rate 7%
$174,314
$174.3K
Cap Rate 9%
$135,578
$135.6K
Market Conditions
NOI Build-Up for 1,793 SF
Gross rent
$23.5K $13.08/SF
− Vacancy
−$1.3K −$0.71/SF
EGI
$22.2K $12.37/SF
− OpEx
−$10.0K −$5.57/SF
NOI
$12.2K $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 Rate 5%
$244,040
Cap Rate 7%
$174,314
Cap Rate 9%
$135,578
Alternative Uses
Best Use
Apartment 5plus
$174.3K
$152.5K – $203.4K
NOI $12,202 @ 7.0% cap · market cap 3.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$464.7K
$406.7K – $542.2K
NOI $32,532 @ 7.0% cap · market cap 9.71%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
3,454
Businesses Nearby
Explore this area
Business Placement
Demographics for 40204, KY
14,600
Population
8,759
Households
1.7
Avg Household Size
38
Median Age
63%
College-Educated
97%
High-School Grad
3.2 sq mi
ZIP Area
4,563
Density / Sq Mi
$70,706
Median Household Income
$50,246
Median Earnings
$1,225
Median Rent
$314,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Short term rental property - Operating short-term rental with renovated baths, updated kitchen, self check-in, and an option to include furnishings.
Where is this short term rental property located?
The property is located at 934 E Muhammad Ali Blvd Louisville, KY.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: Active Airbnb operation with 1,793 square feet of property; Legally nonconforming under Louisville’s short‑term rental ordinance; no conditional use permit required; Approximately 3 minutes from Downtown Louisville
