1337 4Th StLouisville, KY 40208

For Sale
$1,250,000

Historic Charm, High NOI, Strong Cash Flow

Overview

Added:
Dec 11, 2024
Days on market:
95
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.

Property Details for 1337 4Th St

Property type
Multifamily properties, Apartment buildings
Square Feet
10,104 SF
Year Built/Renovated
1890/2020
Buildings
1
Stories
3
Units
9

Location Insight

City
Louisville
County
Jefferson
State
Kentucky
Latitude
38.2312434
Longitude
-85.7606395
1337 4Th St, Louisville, Kentucky

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1337 4Th St
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