NOT LISTED FOR SALE

5501 Lodema Way Louisville, KY 40219

Newburg Neighborhood
8 Beds
4 Baths
3,754 Sq Ft
1965 Built

Last Sold October 20, 2023

Last sale price $375,000 $100 Per Sq Ft

9 Days on Market

Highlights

  • Traditional Architecture
  • Brick Veneer
  • Forced Air Heating and Cooling System
  • No HOA

About This Home

As of October 2023

Great opportunity to purchase a fully rented quadplex with immediate cash flow. 4 large units featuring a large living room, eat-in kitchen with laundry room, 2 bedrooms and bath with tub and shower. There is parking for tenants within steps of the front door. The rear yard has a separate concrete patio for each tenant.

Each unit has its own HVAC and water heater and each unit has its own electric meter. All of the HVAC systems and water heaters have been replaced since the current owner purchased the property in 2011. Units 2 and 3 have been recently painted and have had hardwood laminate installed in all rooms. Unit 2 has a new bathroom installed in July 2023. Hardwood laminate has been added to most all rooms in each unit. The landlord covers trash pick up and water, the tenant pays for electric and gas. Two long term tenants are currently on a month to month lease. Unit one is leased at $595 and Unit 4 is leased at $625 offering much opportunity to increase rents on these two units. Two tenants are currently on one year leases that expire in July and August of 2024. Their rental lease if for $725 per month. Ideally located near Preston Highway, Poplar Level Road, I-264 and I-265, this property is near major shopping and major employers in the city including General Electric/Haier.

Last Agent to Sell the Property

Guthrie Zaring

Julie Pogue Properties License #211408 Listed on: 08/30/2023

Last Buyer's Agent

Felipe Mendoza

Henderson Realty Service LLC License #215013

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1965

Home Design

  • 3,754 Sq Ft Home
  • Quadruplex
  • Traditional Architecture
  • Brick Veneer
  • Shingle Roof

Utilities

  • Forced Air Heating and Cooling System
  • Heating System Uses Natural Gas

Community Details

  • No Home Owners Association

Listing and Financial Details

  • Tenant pays for gas, electric, cable
  • The owner pays for water, trash removal, sewer
  • Seller Concessions Offered

Property Details

Home Type

Multi-Family

Year Built

Built in 1965

Lot Details

0

Listing Details

  • Cooling System: Central Air
  • Lot Dimensions: .19
  • Property Sub Type: Quadplex
  • Property Type: MultiFamily
  • Garage Yn: No
  • Subdivision Name: NONE
  • Above Grade Finished Sq Ft: 3754.0
  • Architectural Style: Traditional
  • ResoBuildingAreaSource: Other
  • Utilities Electricity Connected: Yes
  • Roof:Shingle: Yes
  • Cooling Central Air: Yes
  • Utilities City Sewer: Yes
  • Owner Pays:Trash Removal: Yes
  • Special Features: None

Interior Features

  • Basement YN: No

Exterior Features

  • Roof: Shingle
  • Construction Type: Brick, Brk/Ven
  • Exterior Features: None
  • Construction:Brick3: Yes

Garage/Parking

  • General Property Description:_pound_ Parking Spaces: 8.0

Utilities

  • Utilities: City Sewer, City Water, Electricity Connected, Fuel:Natural
  • Cooling Y N: Yes
  • Heating: Electric, Forced Air, Natural Gas
  • HeatingYN: Yes
  • Heating:Forced Air: Yes
  • Heating:Electric3: Yes

Condo/Co-op/Association

  • Association: No

Lot Info

  • Parcel #: 0

Rental Info

  • Owner Pays: Water, Trash Removal, Sewer
  • Tenant Pays: Gas, Electric, Cable

Building Info

  • Year Built: 1965

Multi Family

  • Number Of Units Total: 4

Tax Info

  • Tax Block: 0
  • Tax Lot: 0

Range of Values:

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Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
10/20/2023 10/20/23 Sold $375,000 +7.1% $100 / Sq Ft
09/08/2023 09/08/23 Pending -- -- --
08/30/2023 08/30/23 For Sale $350,000 +174.5% $93 / Sq Ft
02/24/2012 02/24/12 Sold $127,500 -5.6% $32 / Sq Ft
02/01/2012 02/01/12 Pending -- -- --
12/22/2011 12/22/11 For Sale $135,000 -- $34 / Sq Ft
Source: Metro Search (Greater Louisville Association of REALTORS®)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Guthrie Zaring

    Seller's Agent in 2023

    Guthrie Zaring

    Julie Pogue Properties

    (502) 494-4605

    1 in this area

    51 Total Sales

    Guthrie Zaring
    Section Image

  • F

    Buyer's Agent in 2023

    Felipe Mendoza

    Henderson Realty Service LLC

    (502) 645-4668

    14 in this area

    312 Total Sales

    Felipe Mendoza
    Section Image
  • Ron Woolet

    Seller's Agent in 2012

    Ron Woolet

    Gariepy Group

    (502) 744-2167

    26 Total Sales

    Ron Woolet
    Section Image
See All Agents

Map

Source: Metro Search (Greater Louisville Association of REALTORS®)

MLS Number: 1644210

Metro Search (Greater Louisville Association of REALTORS®)
Kentucky Jefferson County Louisville 40219 Newburg

5501 Lodema Way, Louisville, KY

This home is located at 5501 Lodema Way, Louisville, KY 40219 since 30 August 2023. This property was built in 1965. 5501 Lodema Way is a home located in Jefferson County with nearby schools including Indian Trail Elementary School, Goldsmith Elementary, and Klondike Elementary School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Metro Search (Greater Louisville Association of REALTORS®) The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of Metro Search, Inc. Real estate listings held by brokerage firms other than Ten-X are marked with the Internet Data Exchange logo or the Internet Data Exchange thumbnail logo and detailed information about each listing includes the name of the listing broker. Copyright 2025 Metro Search, Inc.

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