1337 4Th St Louisville, KY 40208
- Commercial real estate
- 10,104 SF
Current Use by Public Records
- Commercial real estate
Property Details for 1337 4Th St
- Year built
- 1890
- Property size
- 10,104 SF
- Property type
- Commercial real estate
Description
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.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Louisville
- County
- Jefferson
- State
- Kentucky
- Longitude
- -85.7606395
- Latitude
- 38.2312434
