3218 Orchard Manor Cir Pending Save Request In-Person Tour Request Virtual Tour
Louisville,KY 40220
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Pending
Purchase Type For Sale
Square Footage 3,308 sqft
Price per Sqft $125
Subdivision Hikes Point
MLS Listing ID 1694466
Style Traditional
Bedrooms 8
HOA Y/N No
Abv Grd Liv Area 3,308
Year Built 1963
Property Sub-Type Quadruplex
Source Metro Search (Greater Louisville Association of REALTORS®)
Land Area 3308
Property Description
Introducing 3218 Orchard Manor Circle, offering a rare chance to acquire a classic 4-unit apartment building in Hikes Point. This well-maintained brick multifamily property combines income potential with long-term growth. The solid brick building features four 2-bedroom, 1-bath units with functional floor plans ideal for stable tenancy and easy management. The timeless exterior and efficient layouts make these buildings both low-maintenance and appealing to renters. Positioned in the east end, one of Louisville's most sought-after markets, these properties benefit from a strong rental demand, community-driven atmosphere, and proximity to major employers, shopping, and parks. Whether you're expanding your real estate portfolio or looking for a strategic foothold in a high-demand area, this is an opportunity you don't want to miss. Current rents are $850/month for each of the units. All units are occupied and on month-to-month leases that were renewed July 1, 2025. Current NOI is $29,159 with a cap rate of 7.04%. With projected rents of of $1,000 per unit per month the projected NOI is $34,895 with a 8.76% cap rate. NOI includes the expenses for pest control, property taxes, common area electric, water, trash and insurance. This property can be sold in a pack with 4204 & 4210 Billtown Rd for a total of 12 units with projected cash flow of $144,000, projected NOI of $109,104 and a combined projected cap rate of 8.76%. Income Statement, Rent Roll and list of Improvements is available.
Location
State KY
County Jefferson
Direction Hikes Lane to Clingstone Way to Orchard Manor Circle. Between Furman Lane and Breckinridge Lane.
Interior
Heating Forced Air,Natural Gas
Cooling Central Air
Exterior
Exterior Feature None
View Y/N No
Roof Type Shingle
Garage No
Building
Sewer Public Sewer
Water Public
Architectural Style Traditional
Structure Type Wood Frame,Brick Veneer
Others
Virtual Tour https://my.matterport.com/show/?m=gBYyJpZ1RED