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2189 Baringer Ave 11 Unit Apartment Building $1,599,999 ($145,454/Unit) Louisville, KY 40204
Executive Summary
Welcome to 2189 Baringer Ave an exceptional 11 unit trophy multifamily asset located in the heart of Cherokee Triangle / The Highlands, one of Louisville's most sought-after and walkable neighborhoods. This legacy property presents a rare opportunity to acquire a premier asset in a location known for its historic charm, vibrant dining scene, and proximity to parks and local amenities. The property consists of eleven spacious 2-bedroom, 1-bath units, appealing to a broad and stable tenant base. Four units have been recently renovated, featuring granite countertops, new cabinetry, stainless steel appliances, LVP flooring, and updated tile bathrooms offering immediate upside and a clear path for continued value-add improvements. Current rents total $10,567/month with one unit vacant, providing both in-place cash flow and the opportunity to further increase revenue through lease-up, rental growth, utility bill-back implementation, and additional renovations. The property has consistently demonstrated strong tenant demand, low turnover, and ease of leasing. Additional highlights include off-street rear parking, dedicated storage for each unit, and on-site coin-operated laundry enhancing tenant convenience and long-term retention. Opportunities to acquire an asset of this scale and quality in Cherokee Triangle are exceedingly rare, making this a standout addition to any investor's portfolio. See attached virtual tour, rent roll and floor plan for unit layouts.
Property Facts
| Price | $1,599,999 | Building Class | C |
| Price Per Unit | $145,454 | Lot Size | 0.15 AC |
| Sale Type | Investment | Building Size | 5,000 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 90% |
| No. Units | 11 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1969 |
| Property Subtype | Apartment | Parking Ratio | 0.8/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R6 | ||
| Price | $1,599,999 |
| Price Per Unit | $145,454 |
| Sale Type | Investment |
| Sale Condition | 1031 Exchange |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 5,000 SF |
| Average Occupancy | 90% |
| No. Stories | 3 |
| Year Built | 1969 |
| Parking Ratio | 0.8/1,000 SF |
| Zoning | R6 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Security System
- Kitchen
- Refrigerator
Site Amenities
- 24 Hour Access
- Security System
- Smoke Free
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 11 | - | 650 |
1 1
Moderately walkable
60/100
Very drivable
80/100
Limited public transit
30/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 077B00490000 | Improvements Assessment | $699,020 |
| Land Assessment | $160,000 | Total Assessment | $859,020 |
Property Taxes
Parcel Number
077B00490000
Land Assessment
$160,000
Improvements Assessment
$699,020
Total Assessment
$859,020
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
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2189 Baringer Ave
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