2189 Baringer Ave

Description

Located on an upscale residential street in the heart of Cherokee Triangle, one of the most desirable sub-markets in Louisville, 2189 Baringer includes 11 2BR/1BA purpose-built apartments. The walkable location is minutes from Cherokee Park, as well as shopping, dining, and other services in The Highlands. The building has undergone significant recent renovations, including four total unit turns (including all new fixtures, appliances, LVP flooring, tile bathrooms, and granite countertops), and new separate electric meters for all units. The remaining units have benefited from other improvements. There is potential for a 12th apartment - the space is currently used as a coin-op laundry and storage room. Off-street parking is readily available at the rear of the property, plus ample street parking. Value add opportunity for the investor includes continuing to turn units to bring rents up to market rate, potentially adding a 12th unit, instituting a RUBS system, and converting tenants to pay their own electricity.