Cherokee Triangle Turnkey
2124 Longest Ave, Louisville, KY 40204
- Added:
- Mar 25, 2026
- Days on Market:
- 59
- Last Refresh:
- May 22 at 5:06 pm
Property Features for 2124 Longest Ave
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 3
- Rooms
- Bathroom 3, Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 1, Basement, Bedroom 2, Dining Room, Bedroom 4
- Patio and Porch features
- Porch
- Standard status
- Pending
- APN
- 10075F01040000
- Size
- 3,400 SF
- Lot size
- 0.13 Acres
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Ductless (Heating), Forced Air
- Cooling system
- Window Unit(s), Wall/Window Unit(s), Ductless
- Water source
- Public
Building Details
- Year built
- 1900
- Number of units
- 3
- Building materials
- Wood Frame
- Roof type
- Composition
- Architectural style
- Other
Listing agent Mollie Younger Noe (502) 727-9548
Listing office EXP Realty LLC 2303 Hurstbourne Vlg Dr. #300, Prospect, KY (888) 624-6448
Listing date Mar 25, 2026
MLS# 1712446
Listing URL
Copyright © 2026 Greater Louisville Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Turnkey triplex generating $4,150/month in a high‑demand location (Cherokee Triangle).
- Stable and proven rental history with consistent ownership and renovations since 2017.
- Desirable unit mix: one 2‑bedroom/1‑bath unit and two 1‑bedroom/1‑bath units, all with washer and dryer.
- Prime location: steps from Cherokee Park, coffee shops, restaurants, and the Highlands.
- Units 2 and 3 feature modern ductless mini‑split systems for heating and cooling.
- Features a fully fenced backyard and covered front porch.
Overview
This turnkey triplex is situated in the heart of Cherokee Triangle. The well-maintained property generates $4,150 per month. It has been owned and thoughtfully renovated by the same owner since 2017, providing a stable and proven rental history. The unit mix includes one 2-bedroom, 1-bath unit renting for $1,600 per month, along with two 1-bedroom, 1-bath units each renting for $1,275 per month. All units feature a washer and dryer. Unit 1 offers gas heat and window AC units, while Units 2 and 3 are equipped with ductless mini-split systems. Additional features include a fully fenced backyard, covered front porch, and street parking. Tenants are responsible for gas, electric, and water/sewer, with trash covered by the owner. Utilities are currently on a single meter in the owner's name. The property is located steps from Cherokee Park, coffee shops, restaurants, and the Highlands neighborhood. The property size is 3,400 square feet and the lot size is 0.13 acres.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$317.9K
NOI $28,609 @ 9.00% cap · cautious / downside scenario
Moderate
$408.7K
NOI $28,609 @ 7.00% cap · market / base-case scenario
Aggressive
$572.2K
NOI $28,609 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $43.2k | $12.72 |
| − Vacancy | −$2.4k | −$0.70 |
| EGI | $40.9k | $12.02 |
| − OpEx | −$12.3k | −$3.61 |
| NOI | $28.6k | $8.41 |
3,400 SF · lease $12.72/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$408.7K
$357.6K – $476.8K
NOI $28,609 @ 7.0% cap · market cap 5.45%
Second Best
Apartment 5plus
$330.6K
$289.2K – $385.7K
NOI $23,139 @ 7.0% cap · market cap 4.41%
Theoretical Best
Office A
$881.3K
$771.1K – $1.03M
NOI $61,690 @ 7.0% cap · market cap 11.75%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Jessica Gaines Jarboe, ...
Real Estate Agency
Location Insight
- Map
- Local Demand
- City
- Louisville
- County
- Jefferson
- State
- Kentucky
- Longitude
- -85.712687
- Latitude
- 38.236572
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Well-maintained triplex with strong income in a desirable location.
Where is this triplex located?
The property is located at 2124 Longest Ave Louisville, KY.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Turnkey triplex generating $4,150/month in a high‑demand location (Cherokee Triangle).; Stable and proven rental history with consistent ownership and renovations since 2017.; Desirable unit mix: one 2‑bedroom/1‑bath unit and two 1‑bedroom/1‑bath units, all with washer and dryer.
