Value-Add Triplex
2332 SYCAMORE AVE Louisville, KY 40206
2332 SYCAMORE AVE, Louisville, KY, 40206
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For Sale
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A three-unit rental property configured for income-focused ownership near Frankfort Avenue’s retail corridor.
Property Size2,520 SF
Price / SF$158.69
Days on Market50
Property Features for 2332 SYCAMORE AVE
General Information
- Standard status
- Active
- Size
- 2,520 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1955
Listing agency
Weichert Commercial Brokerage Inc Louisville
(502) 609-4778
Listed by
William Friel · License #KY 57228
Source
Crexi
Added: Jun 2 Updated: Jul 10 at 1:50PM Checked: Jul 21 at 9:36AM
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 Weichert Commercial Brokerage Inc Louisville
Investment Insights
Based on property information with market context.
This Crescent Hill triplex is offered as a value-add multifamily investment with three residential units under one ownership structure. The property size is listed at 2,520 square feet, supporting a compact, manageable footprint for operators looking for a three-unit setup.
The address is 2332 Sycamore Ave in Louisville, Kentucky, with the seller describing the area as a tight rental market. The property is positioned just minutes from Frankfort Avenue’s dining, retail, and entertainment strip, which can be a practical consideration for tenant demand in the surrounding sub-market.
For investors and owner-operators, the three-unit configuration offers multiple income-producing units within a single asset rather than spreading the investment across separate buildings. This can simplify property management decisions while keeping the ownership strategy centered on a neighborhood triplex format. Prospective buyers should review unit-level details, current rents, and expenses as part of underwriting to fully assess the value-add opportunity referenced in the offering materials.
The address is 2332 Sycamore Ave in Louisville, Kentucky, with the seller describing the area as a tight rental market. The property is positioned just minutes from Frankfort Avenue’s dining, retail, and entertainment strip, which can be a practical consideration for tenant demand in the surrounding sub-market.
For investors and owner-operators, the three-unit configuration offers multiple income-producing units within a single asset rather than spreading the investment across separate buildings. This can simplify property management decisions while keeping the ownership strategy centered on a neighborhood triplex format. Prospective buyers should review unit-level details, current rents, and expenses as part of underwriting to fully assess the value-add opportunity referenced in the offering materials.
Key Highlights
- 3‑unit rental triplex near Frankfort Avenue’s retail corridor
- Year built: 1955
- Value‑add opportunity with rents described as below‑market, offering a path to increased cash flow
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
NOI $21,204 @ 7.0% cap · market cap 5.30%
Second Best
Apartment 5plus
$245.0K
$214.4K – $285.8K
NOI $17,150 @ 7.0% cap · market cap 4.29%
Theoretical Best
Office A
$653.2K
$571.5K – $762.1K
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
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FAQs
What type of property is this?
Triplex - A three-unit rental property configured for income-focused ownership near Frankfort Avenue’s retail corridor.
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: 3‑unit rental triplex near Frankfort Avenue’s retail corridor; Year built: 1955; Value‑add opportunity with rents described as below‑market, offering a path to increased cash flow
