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The Flats on Sixth 1225 S 6th St 16 Unit Apartment Building $2,075,070 CAD ($129,692 CAD/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 2024-2025 average occupancy of 94.52 percent.
-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 (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$259,139
|
$36.16
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$259,139
|
$36.16
|
| Taxes |
$17,407
|
$2.43
|
| Operating Expenses |
$51,109
|
$7.13
|
| Total Expenses |
$68,516
|
$9.56
|
| Net Operating Income |
$190,623
|
$26.60
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $259,139 |
| Annual Per SF | $36.16 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $259,139 |
| Annual Per SF | $36.16 |
| Taxes (CAD) | |
|---|---|
| Annual | $17,407 |
| Annual Per SF | $2.43 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $51,109 |
| Annual Per SF | $7.13 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $68,516 |
| Annual Per SF | $9.56 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $190,623 |
| Annual Per SF | $26.60 |
PROPERTY FACTS
| Price | $2,075,070 CAD | Building Class | C |
| Price Per Unit | $129,692 CAD | 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 | $2,075,070 CAD |
| Price Per Unit | $129,692 CAD |
| 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 | $1,211 CAD | - |
| 1+1 | 8 | $1,462 CAD | - |
1 1
Walk Score®
Very Walkable (80)
Bike Score®
Very Bikeable (86)
PROPERTY TAXES
| Parcel Number | 032A00110000 | Total Assessment | $1,319,381 CAD (2025) |
| Land Assessment | $68,344 CAD (2025) | Annual Taxes | $17,407 CAD ($2.43 CAD/SF) |
| Improvements Assessment | $1,251,037 CAD (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
032A00110000
Land Assessment
$68,344 CAD (2025)
Improvements Assessment
$1,251,037 CAD (2025)
Total Assessment
$1,319,381 CAD (2025)
Annual Taxes
$17,407 CAD ($2.43 CAD/SF)
Tax Year
2024
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The Flats on Sixth | 1225 S 6th St
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