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The Flats on Sixth 1225 S 6th St 16 Unit Apartment Building $1,500,000 ($93,750/Unit) 7.87% Cap Rate Louisville, KY 40203
INVESTMENT HIGHLIGHTS
- Reliable occupancy (currently zero vacancy) and strong cash flow
- High-demand premium furnished rentals (five converted with upside potential of remaining 11)
- Professionally redesigned units
EXECUTIVE SUMMARY
Turnkey, cash-flowing acquisition opportunity with steady 95% occupancy.
-11 traditional leases commanding market rates
-premium income of 5 furnished mid-term rentals in a revenue-accelerating hybrid model with upside potential
Direct inquiries welcome.
Brokers protected.
-11 traditional leases commanding market rates
-premium income of 5 furnished mid-term rentals in a revenue-accelerating hybrid model with upside potential
Direct inquiries welcome.
Brokers protected.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$187,323
|
$26.14
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$187,323
|
$26.14
|
| Taxes |
$12,583
|
$1.76
|
| Operating Expenses |
$36,945
|
$5.15
|
| Total Expenses |
$49,528
|
$6.91
|
| Net Operating Income |
$137,795
|
$19.23
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $187,323 |
| Annual Per SF | $26.14 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $187,323 |
| Annual Per SF | $26.14 |
| Taxes | |
|---|---|
| Annual | $12,583 |
| Annual Per SF | $1.76 |
| Operating Expenses | |
|---|---|
| Annual | $36,945 |
| Annual Per SF | $5.15 |
| Total Expenses | |
|---|---|
| Annual | $49,528 |
| Annual Per SF | $6.91 |
| Net Operating Income | |
|---|---|
| Annual | $137,795 |
| Annual Per SF | $19.23 |
PROPERTY FACTS
| Price | $1,500,000 | Building Class | C |
| Price Per Unit | $93,750 | Lot Size | 0.14 AC |
| Sale Type | Investment | Building Size | 7,167 SF |
| Cap Rate | 7.87% | Average Occupancy | 95% |
| Gross Rent Multiplier | 8.27 | No. Stories | 3 |
| No. Units | 16 | Year Built | 1900 |
| Property Type | Multifamily | Parking Ratio | 2.65/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Mid-Rise | ||
| Zoning | TNZD-TRADI | ||
| Price | $1,500,000 |
| Price Per Unit | $93,750 |
| Sale Type | Investment |
| Cap Rate | 7.87% |
| Gross Rent Multiplier | 8.27 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 7,167 SF |
| Average Occupancy | 95% |
| No. Stories | 3 |
| Year Built | 1900 |
| Parking Ratio | 2.65/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | TNZD-TRADI |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Air Conditioning
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- Laundry Facilities
- Furnished Units Available
- Wi-Fi
- Bicycle Storage
- Car Charging Station
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 8 | $875.50 | - |
| 1+1 | 8 | $1,057 | - |
1 1
Walk Score®
Very Walkable (80)
Bike Score®
Very Bikeable (86)
PROPERTY TAXES
| Parcel Number | 032A00110000 | Total Assessment | $965,250 (2025) |
| Land Assessment | $50,000 (2025) | Annual Taxes | $12,583 ($1.76/SF) |
| Improvements Assessment | $915,250 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
032A00110000
Land Assessment
$50,000 (2025)
Improvements Assessment
$915,250 (2025)
Total Assessment
$965,250 (2025)
Annual Taxes
$12,583 ($1.76/SF)
Tax Year
2024
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The Flats on Sixth | 1225 S 6th St
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