Triplex with Strong Rental
For Sale
$389,900
2332 Sycamore Ave, Louisville, KY 40206
R4-zoned multifamily property near Frankfort Avenue’s dining, retail, and entertainment corridor.
Property Size2,520 SF
Price / SF$154.72
Days on Market137
Property Features for 2332 Sycamore Ave
General Information
Standard status
Active
Size
2,520 SF
Property subtype
Multifamily
Zoning
R6
Additional Details
Multifamily Units
3
Building Details
Year Built
1955
Listing Agency:
Weichert Realtors - ABG
Listed By:
William Friel · License #57228
(502) 609-4778
Source:
Kcrea.resimplifi
Added: May 27
Changed: Oct 7
Last Checked: Oct 9 at 4:18PM
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 Realtors - ABG
Investment Insights
Based on property information with market context.
This triplex contains 2,520 square feet and was built in 1955. The property is zoned R4 and has an established rental record with historically low vacancy. Existing rental performance provides a documented operating history for multifamily ownership.
Located on Sycamore Ave in Louisville’s Crescent Hill area, the property is near Frankfort Avenue, a corridor offering dining, retail, and entertainment. The three-unit configuration and proximity to this commercial destination define the asset’s primary operating and location characteristics.
Located on Sycamore Ave in Louisville’s Crescent Hill area, the property is near Frankfort Avenue, a corridor offering dining, retail, and entertainment. The three-unit configuration and proximity to this commercial destination define the asset’s primary operating and location characteristics.
Key Highlights
- Three‑unit multifamily property
- 2,520 square feet
- R4 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,204
Cap Rate
5.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$424,080
$424.1K
Cap Rate 7%
$302,914
$302.9K
Cap Rate 9%
$235,600
$235.6K
Market Conditions
NOI Build-Up for 2,520 SF
Gross rent
$32.1K $12.72/SF
− Vacancy
−$1.8K −$0.70/SF
EGI
$30.3K $12.02/SF
− OpEx
−$9.1K −$3.61/SF
NOI
$21.2K $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%
$424,080
Cap Rate 7%
$302,914
Cap Rate 9%
$235,600
Alternative Uses
Best Use
Multifamily LT 5
$302.9K
$265.1K – $353.4K
NOI $21,204 @ 7.0% cap · market cap 5.44%
Second Best
Apartment 5plus
$245.0K
$214.4K – $285.8K
NOI $17,150 @ 7.0% cap · market cap 4.40%
Theoretical Best
Office A
$653.2K
$571.5K – $762.1K
NOI $45,723 @ 7.0% cap · market cap 11.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
748
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - R4-zoned multifamily property near Frankfort Avenue’s dining, retail, and entertainment 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 $389,900.
What are key features of this property?
This property features: Three‑unit multifamily property; 2,520 square feet; R4 zoning
