1314 Highland Avenue

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1314 Highland Avenue

Louisville, KY 40204
Asking Price
$520K
Cap Rate
5.15%
Asset Type
Multifamily
Class
Class B

What's Special

Three-Unit Income Property | Original Highlands | 2 Leased + Value-Add Third Unit <ul><li>​Two units leased at or above market, producing $42,600 in current annual income</li><li>​Day-one upside: owner-occupied third unit adds an estimated $13,200/year, lifting gross income to $55,800</li><li>​$144.40 per square foot, below every closed triplex comparable in the corridor over the past year</li><li>​Largest building by area in its comparable set at 3,601 SF</li><li>​Original Highlands location, walkable to Bardstown Road; submarket vacancy around 6%</li><li>​Supply-constrained

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NOI
$80,000
Cap Rate
15.38%
DSCR
2.59
Strong
Cash-on-Cash
31.49%
Monthly Payment
$2,572.676
Annual Cash Flow
$49,127.885

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