Triplex with Varied Unit
New
For Sale
$389,000
204 Claremont Ave, Louisville, KY 40206
The three apartments include two one-bedroom layouts and a multilevel three-bedroom residence.
Property Size2,210 SF
Price / SF$176.02
Days on Market3
Property Features for 204 Claremont Ave
General Information
Standard status
Active
Size
2,210 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Crescent Hill
Units
Unit Mix
2 x 1BR/1BA, 1 x 3BR/1BA
Multifamily Units
3
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Demaree & Hubbard
Listed By:
Key Associates Signature Realty
(812) 686-3268
Source:
Keyassociates
Added: Oct 30
Changed: Oct 31
Last Checked: Oct 30 at 12:25PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Demaree & Hubbard
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Investment Insights
Based on property information with market context.
This 2,210-square-foot triplex contains three apartments: two one-bedroom, one-bathroom units and a multilevel unit with three bedrooms and one bathroom. The building dates to 1900, and updates have been made throughout. Tenants can use off-street parking on a first-come, first-served basis.
The owner covers water service and electricity for the exterior lighting. The property is on Claremont Avenue in Louisville, Kentucky.
The owner covers water service and electricity for the exterior lighting. The property is on Claremont Avenue in Louisville, Kentucky.
Key Highlights
- Three apartments: two 1‑bedroom, 1‑bathroom units and one multilevel 3‑bedroom, 1‑bathroom unit
- 2,210 square feet
- Built in 1900
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,596
Cap Rate
4.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$371,920
$371.9K
Cap Rate 7%
$265,657
$265.7K
Cap Rate 9%
$206,622
$206.6K
Market Conditions
NOI Build-Up for 2,210 SF
Gross rent
$28.1K $12.72/SF
− Vacancy
−$1.5K −$0.70/SF
EGI
$26.6K $12.02/SF
− OpEx
−$8.0K −$3.61/SF
NOI
$18.6K $8.41/SF
Area
Louisville, KY
Vacancy
5.50%
Lease Rate
$12.72 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$371,920
Cap Rate 7%
$265,657
Cap Rate 9%
$206,622
Alternative Uses
Best Use
Multifamily LT 5
$265.7K
$232.5K – $309.9K
NOI $18,596 @ 7.0% cap · market cap 4.78%
Second Best
Apartment 5plus
$214.9K
$188.0K – $250.7K
NOI $15,040 @ 7.0% cap · market cap 3.87%
Theoretical Best
Office A
$572.8K
$501.2K – $668.3K
NOI $40,098 @ 7.0% cap · market cap 10.31%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
462
Businesses Nearby
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Business Placement
Demographics for 40206, KY
20,196
Population
11,637
Households
1.7
Avg Household Size
38
Median Age
55%
College-Educated
95%
High-School Grad
5.8 sq mi
ZIP Area
3,482
Density / Sq Mi
$72,543
Median Household Income
$48,506
Median Earnings
$1,142
Median Rent
$276,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - The three apartments include two one-bedroom layouts and a multilevel three-bedroom residence.
Where is this triplex located?
The property is located at 204 Claremont Ave Louisville, KY.
What is the asking price?
The asking price for this property is $389,000.
What are key features of this property?
This property features: Three apartments: two 1‑bedroom, 1‑bathroom units and one multilevel 3‑bedroom, 1‑bathroom unit; 2,210 square feet; Built in 1900
