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    1337 S 4Th St Louisville, KY 40208
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    1337 S 4Th St, Louisville, KY 40208

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    • Apartment buildings
    • 10,104 SF
    For Sale
    $1,250,000
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    Old Louisville Multifamily Investment Opportunity For Sale
    $1,250,000
    10,104 SF

    Old Louisville Multifamily Investment Opportunity

    Renovated 9-unit apartment building with parking and garages.

    1337 S 4th St, Louisville, KY 40208
    View Listing
    Property ID
    US34-0196163
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 1337 S 4Th St

    Year built
    1890
    Property type
    Apartment buildings

    Description

    This prime 9 unit multi-family apartment building is well-located in Old Louisville, and has been recently renovated and restored. In addition to 9 units (all but one are currently rented), there are four private parking spaces & 5 separate garages (can be rented for extra income). Onsite coin laundry also increases the overall NOI. Tenants pay their own electric, and pro-rata share of water consumption (as per lease). Once the leases begin to expire, there is a chance to increase the rent to market rate and raise the cap rate!

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Louisville
    County
    Jefferson
    State
    Kentucky
    Longitude
    -85.7606297
    Latitude
    38.2312619

    Comparable in this City

    • $410,000
      3,440 SF

      Louisville Multifamily Investment Opportunity

      Fully rented 5-plex near UofL and Churchill Downs.
      2730 S 4Th St, Louisville, KY 40208
      View Details
    • $600,000
      11,276 SF

      Louisville Multifamily Investment Opportunity

      Two buildings with eight units, generating consistent income.
      401 Marret Ave, Louisville, KY 40208
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    • Contact for pricing
      17,100 SF

      Louisville Rental Portfolio: 16 Units

      16-unit rental portfolio in Louisville, 100% occupied, $225,036 annual rent.
      602 Colorado Ave, Louisville, KY 40208
      View Details
    • New
      $730,000
      5,611 SF

      Six-Unit Multifamily with Private Driveway

      Converted late-1800s residence offers six units, including two efficiencies over a carriage house with dedicated parking.
      1424 Saint James Ct, Louisville, KY 40208
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      3,283 SF

      Renovated Three-Unit Property in Louisville

      Turnkey investment opportunity with updated duplex and detached ADU.
      912 Euclid Ave, Louisville, KY 40208
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      1,612 SF

      Multifamily Property for Sale

      Multifamily property featuring 1612 square feet of space.
      1515 Wurtele Ave, Louisville, KY 40208
      View Details

    Similar Nearby for Sale

    • $410,000
      3,440 SF

      Louisville Multifamily Investment Opportunity

      Fully rented 5-plex near UofL and Churchill Downs.
      2730 S 4Th St, Louisville, KY 40208
      View Details
    • $600,000
      11,276 SF

      Louisville Multifamily Investment Opportunity

      Two buildings with eight units, generating consistent income.
      401 Marret Ave, Louisville, KY 40208
      View Details
    • Contact for pricing
      17,100 SF

      Louisville Rental Portfolio: 16 Units

      16-unit rental portfolio in Louisville, 100% occupied, $225,036 annual rent.
      602 Colorado Ave, Louisville, KY 40208
      View Details
    • New
      $730,000
      5,611 SF

      Six-Unit Multifamily with Private Driveway

      Converted late-1800s residence offers six units, including two efficiencies over a carriage house with dedicated parking.
      1424 Saint James Ct, Louisville, KY 40208
      View Details
    • Contact for pricing
      3,283 SF

      Renovated Three-Unit Property in Louisville

      Turnkey investment opportunity with updated duplex and detached ADU.
      912 Euclid Ave, Louisville, KY 40208
      View Details
    • Contact for pricing
      1,612 SF

      Multifamily Property for Sale

      Multifamily property featuring 1612 square feet of space.
      1515 Wurtele Ave, Louisville, KY 40208
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Louisville Warehouse Storage Opportunity

      Functional warehouse space in Louisville's urban industrial corridor.
      1620 S 7Th St, Louisville, KY 40208
      View Details
    • Contact for pricing
      22,000 SF

      Levering Street Build-to-Suit Opportunity

      Shovel-ready Louisville project with flexible industrial, flex, or creative use.
      1447 Levering St, Louisville, KY 40208
      View Details
    View Listing
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    Louisville, KY 40208
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

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

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