3-Unit Residential
New
For Sale
$389,000
204 Claremont Ave, Louisville, KY 40206
Multi Family, Louisville, KY
Property Size2,210 SF
Price / SF$176.02
Days on Market3
Property Features for 204 Claremont Ave
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bedroom 5, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 2, Bathroom 3, Bedroom 3
Patio and Porch features
Porch
Subdivision
RESERVOIR PARK
Directions
Frankfort Ave. to Blackburn Ave. to Randolph Ave. to Street
Standard status
Active
APN
05073A00210000
Size
2,210 SF
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1900
Number of units
3
Roof type
Shingle, Rolled Hot Mop
Architectural style
Other
Listing Agency:
Kentucky Select Properties
Listed By:
Clayton Gentile
(502) 271-5000
Added: Oct 29
Last Checked: Oct 31 at 1:06AM
MLS# 1733222
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.
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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 has forced-air heating, central air conditioning, and a porch.
Tenants may use off-street parking on a first-come, first-served basis. The owner covers water service and electricity for the exterior lights. The property is professionally managed and has a reported history of more than 10 years of cash flow.
Tenants may use off-street parking on a first-come, first-served basis. The owner covers water service and electricity for the exterior lights. The property is professionally managed and has a reported history of more than 10 years of cash flow.
Key Highlights
- Three units: two 1‑bedroom, 1‑bathroom apartments and one multilevel 3‑bedroom, 1‑bathroom apartment
- 2,210 square feet
- Off‑street tenant parking available on a first‑come, first‑served basis
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - The apartment mix includes a multilevel three-bedroom residence and two one-bedroom units.
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 units: two 1‑bedroom, 1‑bathroom apartments and one multilevel 3‑bedroom, 1‑bathroom apartment; 2,210 square feet; Off‑street tenant parking available on a first‑come, first‑served basis
