REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 329,000
Est. payment /mo
New
2315 Portland Ave Louisville, KY 40212
5 Beds
4 Baths
3,338 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 3,338 sqft
Price per Sqft $98
Subdivision Portland
MLS Listing ID 1702368
Bedrooms 5
HOA Y/N No
Abv Grd Liv Area 3,338
Year Built 1900
Property Sub-Type Quadruplex
Source APEX MLS (Greater Louisville Association of REALTORS®)
Land Area 3338
Property Description
This rare four-unit investment opportunity consists of two separate parcels sold together, featuring three large units on Portland Avenue and a spacious two-bedroom single-family home with private access and a garage at 2316 Tyler Avenue. The combined properties generate an impressive 12-month NOI of $39,220 (12% CAP) under self-management and have undergone extensive renovations inside and out. The Portland Avenue building includes three fully updated units, each with laundry connections and individual floor heaters in every room for efficient and consistent heating. Units 2 and 3 have long-term tenants of over two years who plan to stay, and Unit 1 was newly leased in October 2025. Updates to Portland include new roofing, siding and trim, all-new windows, exterior painting, gutters.. exterior lighting, concrete repairs, landscaping, new PEX plumbing, new drain lines, and a 2024 water heater replacement. The Tyler Avenue home was completely remodeled in 2024 prior to the current tenant moving in and features laundry connections, a powerful gas wall heater with a built-in blower fan as the main heat source, new shingles and gutters, full siding and window replacements, exterior paint, landscaping, new flooring, updated bathroom, new lighting, and fully replaced PEX plumbing with updated electrical outlets and switches throughout.
Both properties use window air conditioning units and have been outfitted with two new water heaters (only.1 unit in Portland and 1 in Tyler) and new heating systems, reducing HVAC maintenance needs for many years. This efficient setup creates long-term ease of ownership for investors and minimal upkeep. The Tyler Avenue tenant has paid consistently on time and plans to renew, further strengthening the property's performance. These two parcels must be sold together due to a shared water meter, offering a turnkey, low-maintenance investment with a solid rental history and strong cash flow.
Both properties use window air conditioning units and have been outfitted with two new water heaters (only.1 unit in Portland and 1 in Tyler) and new heating systems, reducing HVAC maintenance needs for many years. This efficient setup creates long-term ease of ownership for investors and minimal upkeep. The Tyler Avenue tenant has paid consistently on time and plans to renew, further strengthening the property's performance. These two parcels must be sold together due to a shared water meter, offering a turnkey, low-maintenance investment with a solid rental history and strong cash flow.
Location
State KY
County Jefferson
Direction I64 to 22nd St. Right on Portland Ave to property on right.
Interior
Heating Electric, Natural Gas, Other
Cooling Wall/Window Unit(s)
Exterior
Exterior Feature None
View Y/N No
Roof Type Asphalt,Shingle
Porch Patio, Porch
Garage Yes
Building
Lot Description Sidewalk
Sewer Public Sewer
Water Public
Structure Type Vinyl Siding,Wood Frame,Aluminum Siding
Copyright 2025 Metro Search, Inc.
Listed by EXP Realty LLC