Brick Five-Unit Apartment
For Sale
$300,000
952 S 6th St, Louisville, KY 40203
Four units have recent cosmetic renovations, complemented by a replaced roof and mini-split HVAC systems.
Property Size3,250 SF
Price / SF$92.31
Days on Market56
Property Features for 952 S 6th St
General Information
Standard status
Active
Size
3,250 SF
Property subtype
Multifamily
Zoning
TNZD
Amenities
Vacant
Building Details
Year Built
1928
Listing Agency:
United Real Estate Louisville
Listed By:
Samuel Ault · License #271696
(502) 229-0166
Source:
Kcrea.resimplifi
Added: Aug 24
Changed: Oct 14
Last Checked: Oct 16 at 5:51AM
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 United Real Estate Louisville
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Investment Insights
Based on property information with market context.
This 3,250-square-foot apartment building at 952 S 6th St. contains five units and was built in 1928. The brick and stone structure has spacious units, a recently replaced roof, and mini-split HVAC systems. Four of the five units have received recent cosmetic renovations, while separate electric metering remains a planned improvement under review.
The property has been vacated to provide a future owner with an opportunity to complete improvements and lease the units. It is located in the Old Louisville/Limerick area and is zoned TNZD. Property Mgmt of Louisville is prepared to assist with leasing, and historical rent-roll information, pro forma financials, and rent comparables are available upon request.
The property has been vacated to provide a future owner with an opportunity to complete improvements and lease the units. It is located in the Old Louisville/Limerick area and is zoned TNZD. Property Mgmt of Louisville is prepared to assist with leasing, and historical rent-roll information, pro forma financials, and rent comparables are available upon request.
Key Highlights
- Five‑unit apartment building totaling 3,250 SF
- Brick and stone construction completed in 1928
- Four of the 5 units recently cosmetically renovated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,118
Cap Rate
7.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$442,360
$442.4K
Cap Rate 7%
$315,971
$316.0K
Cap Rate 9%
$245,756
$245.8K
Market Conditions
NOI Build-Up for 3,250 SF
Gross rent
$42.5K $13.08/SF
− Vacancy
−$2.3K −$0.71/SF
EGI
$40.2K $12.37/SF
− OpEx
−$18.1K −$5.57/SF
NOI
$22.1K $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%
$442,360
Cap Rate 7%
$315,971
Cap Rate 9%
$245,756
Alternative Uses
Best Use
Apartment 5plus
$316.0K
$276.5K – $368.6K
NOI $22,118 @ 7.0% cap · market cap 7.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$842.4K
$737.1K – $982.8K
NOI $58,968 @ 7.0% cap · market cap 19.66%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,856
Businesses Nearby
Explore this area
Business Placement
Demographics for 40203, KY
16,801
Population
10,754
Households
1.6
Avg Household Size
37
Median Age
22%
College-Educated
86%
High-School Grad
2.9 sq mi
ZIP Area
5,793
Density / Sq Mi
$31,430
Median Household Income
$32,581
Median Earnings
$828
Median Rent
$179,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Four units have recent cosmetic renovations, complemented by a replaced roof and mini-split HVAC systems.
Where is this apartment building located?
The property is located at 952 S 6th St Louisville, KY.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Five‑unit apartment building totaling 3,250 SF; Brick and stone construction completed in 1928; Four of the 5 units recently cosmetically renovated
