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34180473
34180497

1122 GARVIN PL, LOUISVILLE, KY 40203

WF
KY KY 57228
Weichert Commercial Brokerage Inc Louisville
Listed by Weichert Commercial Brokerage Inc Louisville
$2,599,000
2 days on market
Updated 1 day ago
Opportunity zone

1122 GARVIN PL LOUISVILLE KY 40203

Details
APN 08029K00270000
Property Type Multifamily
Sub Type Apartment Building
Square Footage 13,908
Units 32
Cap Rate 5.8%
NOI $150,710
Occupancy 97.5%
Tenancy Multi
Pro-Forma Cap Rate 7.9%
Pro-Forma NOI $205,280
Price per SqFt $187
Class C
Year Built 1961
Buildings 1
Lot Size (SqFt) 21,000
Zoning TNZD
Parking Spaces 50 spaces
Parking per 1,000 SqFt 3.60
Investment Type Value Add
Sale Condition N/A

About This Property

Marketing description

The Old Louisville Flats. This 32-unit apartment building represents a highly desirable, historically stable asset class with significant value-add potential. Long-term family ownership means pride in ownership with this extremely well-cared-for property. Property Overview & Investment Highlights 32 one-bedroom apartments plus one bonus on-site manager's space in the basement. Located in the historic Old Louisville area, known for its high density of Victorian architecture and strong tenant demand driven by proximity to the University of Louisville, Spalding University, and downtown employment hubs. Value-Add Potential: The "upside in rents" indicates an opportunity to implement easy upgrades to capture market-rate premiums. On-site laundry facilities provide immediate auxiliary income and serve as a vital amenity for the tenants.

Investment highlights

Extremly stable property with a strong rental history. A great ad value opportunity.

Listing Contacts

WF
KY KY 57228
Weichert Commercial Brokerage Inc Louisville
Listed by Weichert Commercial Brokerage Inc Louisville

Valuation Calculator

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$150,710.00
$12,559.17/mo

Valuation Metrics

0
DSCR
5.8%
Cap Rate
5.8%
ROI

Map

Zoning

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TNZD SpecialTraditional Neighborhood Zoning District
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View all 31 uses
View all 31 uses
Last updated Jun 22, 2026 For deeper zoning details, reports are available at Zoneomics

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Property History

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Additional Information

Name
William Friel
License
KY 57228
Brokerage
Weichert Realtors-ABG
Title
Broker CCIM
Brokerage Address
9115 Leesgate Road
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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