Renovated 11-Unit Apartment
2189 Baringer Avenue Louisville, KY 40204
2189 Baringer Avenue, Louisville, KY, 40204
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For Sale
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An 11-unit, 2BR/1BA apartment building with recent renovations and off-street parking at the rear.
Property Size9,144 SF
Price / SF$163.50
Days on Market35
Property Features for 2189 Baringer Avenue
General Information
- Standard status
- Active
- Size
- 9,144 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1969
Listing agency
Colliers
(502) 645-1729
Listed by
Jenny Johnston · License #KY 246944
Source
Crexi
Added: Jun 18 Updated: Jul 21 at 2:28PM Checked: Jul 21 at 2:28PM
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 Colliers
Investment Insights
Based on property information with market context.
2189 Baringer is an 11-unit, purpose-built apartment building offering 2-bedroom, 1-bath floorplans. Recent renovations include unit turns with new fixtures, appliances, LVP flooring, tile bathrooms, and granite countertops, along with new separate electric meters for all units. Additional improvements have been made in remaining units, and there is an existing area currently used as a coin-op laundry and storage room that could potentially support a 12th apartment.
The property is located on an upscale residential street in Cherokee Triangle in Louisville, with access to nearby shopping, dining, and services in The Highlands. Off-street parking is available at the rear, with additional ample street parking.
The building’s current configuration and renovation history provide a straightforward operations base, while the existing laundry/storage area offers the option to explore adding another unit. Newer electrical metering is already in place across all units.
The property is located on an upscale residential street in Cherokee Triangle in Louisville, with access to nearby shopping, dining, and services in The Highlands. Off-street parking is available at the rear, with additional ample street parking.
The building’s current configuration and renovation history provide a straightforward operations base, while the existing laundry/storage area offers the option to explore adding another unit. Newer electrical metering is already in place across all units.
Key Highlights
- 11‑unit apartment building built in 1969, offering all units as 2BR/1BA purpose‑built layouts
- Recent renovations include four total unit turns with new fixtures, appliances, LVP flooring, tile bathrooms, and granite countertops
- New separate electric meters installed for all units
Local Financial Insights For Apartment 5plus
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 | $119.6k | $13.08 |
| − Vacancy | −$6.5k | −$0.71 |
| EGI | $113.1k | $12.37 |
| − OpEx | −$50.9k | −$5.57 |
| NOI | $62.2k | $6.81 |
9,144 SF · lease $13.08/SF/yr · vacancy 5.40% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$889.0K
$777.9K – $1.04M
NOI $62,230 @ 7.0% cap · market cap 4.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.37M
$2.07M – $2.77M
NOI $165,909 @ 7.0% cap · market cap 11.10%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - An 11-unit, 2BR/1BA apartment building with recent renovations and off-street parking at the rear.
Where is this apartment building located?
The property is located at 2189 Baringer Avenue Louisville, KY.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: 11‑unit apartment building built in 1969, offering all units as 2BR/1BA purpose‑built layouts; Recent renovations include four total unit turns with new fixtures, appliances, LVP flooring, tile bathrooms, and granite countertops; New separate electric meters installed for all units
