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    Crescent Hill Value-Add Triplex

    2332 Sycamore Ave Louisville, KY 40206

    Claim this Listing
    For Sale
    $399,900

    MULTI_FAMILY - Other - Louisville, KY

    Property size:
    2,520 SF
    Lot size:
    0.21 Acres
    Price / SF:
    $158/SF
    Added:
    May 27, 2026
    Days on Market:
    47
    Last Refresh:
    Jul 12 at 12:06 am

    Property Features for 2332 Sycamore Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    4
    Bathrooms
    3
    Rooms
    Bedroom 2, Bathroom 3, Bedroom 4, Bedroom 3, Bathroom 2, Bedroom 1, Bathroom 1
    Standard status
    Active
    APN
    05072B00610000
    Size
    2,520 SF
    Lot size
    0.21 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Electric (Heating)
    Cooling system
    Window Unit(s), Wall/Window Unit(s), Central Air
    Water source
    Public

    Building Details

    Year built
    1955
    Number of units
    3
    Building materials
    Brick
    Roof type
    Asphalt
    Architectural style
    Other
    Additional Structures
    Outbuilding

    Listing agent William M Friel License #57228

    Listing office Weichert Realtors - ABG 252 Whittington Pkwy S-A, Louisville, KY

    Listing date May 27, 2026

    MLS# 1718597 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.

    Investment Insights

    Based on property information with market context.

    This triplex is located minutes from Frankfort Avenue's dining, retail, and entertainment strip. It features a strong rental history with historically low vacancy rates. The property offers an immediate path to increased cash flow and capitalization due to below-market rents. This multifamily property is located in the Crescent Hill neighborhood of Louisville, Kentucky. The lot size is 0.21 acres and the property size is 2,520 square feet.

    Key Highlights

    • Value‑add triplex in the desirable Crescent Hill neighborhood.
    • Immediate upside potential through increasing below‑market rents.
    • Strong rental history with historically low vacancy rates.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    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.

    Component $ $/SF
    Gross rent $32.1k $12.72
    − Vacancy −$1.8k −$0.70
    EGI $30.3k $12.02
    − OpEx −$9.1k −$3.61
    NOI $21.2k $8.41
    2,520 SF · lease $12.72/SF/yr · vacancy 5.50% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $302.9K
    $265.1K – $353.4K (±1% cap)
    NOI $21,204 @ 7.0% cap · market cap 5.30%
    Second Best
    Apartment 5plus
    $245.0K
    $214.4K – $285.8K (±1% cap)
    NOI $17,150 @ 7.0% cap · market cap 4.29%
    Theoretical Best
    Office A
    $653.2K
    $571.5K – $762.1K (±1% cap)
    NOI $45,723 @ 7.0% cap · market cap 11.43%
    Zoning and permitted uses should be independently verified with local authorities.

    Property Analytics

    Property Profile Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Dental Office Law Firm Parking Lot & Garage Building Supply HVAC Service Kitchen & Bath Showroom Computer & Electronic Repair Garden Center Carpet & Flooring Store Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

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    FAQs

    What type of property is this?
    Triplex - Louisville triplex with rental upside in high-barrier Crescent Hill.
    Where is this triplex located?
    The property is located at 2332 Sycamore Ave Louisville, KY.
    What is the asking price?
    The asking price for this property is $399,900.
    What are key features of this property?
    This property features: Value‑add triplex in the desirable Crescent Hill neighborhood.; Immediate upside potential through increasing below‑market rents.; Strong rental history with historically low vacancy rates.
    Contact an agent
    (502) 893-1900
    We can help!
    Contact an agent
    William M Friel
    William M Friel
    Real Estate License ID: 57228
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