Price Reduction
Address
2201 Griffiths Ave, Louisville, KY
Price
$ 304,900
Property Attributes
- MLS#1726465
- TypeMulti-Family
- Listing Status Active Under Contract
- CountyJefferson
- CityLouisville
- AreaDtwn Old Louisville-Shively-West Lou
- NeighborhoodPORTLAND
- Zip40212
- StyleTraditional
- Year Built1890
- Price$ 304,900
- Bedrooms7
- Full Bathrooms4
- Half Bathrooms0
- Sqr Footage4590
Data Source:
Metro Search, Inc.
Property Description
Turnkey, income-producing 4-unit multifamily property located at 2201 Griffiths Ave in Louisville's Portland neighborhood, offering strong in-place cash flow and proven operational stability. This fully occupied investment property generates $54,324 in gross annual income and $43,044 in net operating income, delivering a 13.5% cap rate at the current list price of $319,900. The financial performance is supported by a clean T-12 with consistent collections and minimal vacancy, making this a highly financeable asset with an estimated DSCR of approximately 2.0+ under typical lending terms. The property has undergone extensive renovations over the past four years, contributing to tenant retention and reducing near-term capital expenditure needs. The unit mix includes one-, two-, and three-bedroom units, supporting broad rental demand, while long-term tenants provide additional income stability. Operationally, the property is efficient and easy to manage, with owner paying utilities per long-term Section 8 leases (but separately metered) as well as water and sewer (included in T-12 financials and CAP rate), resulting in a low expense ratio of approximately 21% and a strong NOI margin near 79%. There is no significant exterior or landscaping maintenance required, making this a low-management, high-yield investment opportunity. Located just minutes from Downtown Louisville, the property benefits from consistent demand for workforce housing and offers convenient access to major employment centers, logistics corridors, and transportation routes. This is an ideal opportunity for cash flow investors, 1031 exchange buyers, or anyone seeking a stabilized multifamily asset with immediate returns and strong financing fundamentals. Also available is another 4-plex at 2315 Portland Ave with similar cap rate, perfect for adding all 8 units to your portfolio, buy all 8 units and get a discount.
| Price History | |
|---|---|
| 8/17/2026 | Listed $309,900 |
| 9/14/2026 | 2$304,900 |
General Features
| Heating | Natural Gas |
|---|---|
| Cooling | Wall/Window Unit(s) |
| Utilities | Electricity Connected,Fuel:Natural |
| Roof | Shingle |
| Architectural Style | Traditional |
| Construction Materials | Vinyl Siding,Wood Frame,Aluminum Siding |
| Year Built | 1890 |
| Tenant Pays | Electricity,Gas |
| Property Subtype | Quadruplex |
| OwnerPays | Electricity,Sewer,Water |
| County | Jefferson |
| Property Type | Multi Family |
| HOA | false |
| Subdivision Name | PORTLAND |
| Garage Y/N | false |
| Status | Active Under Contract |
| Directions | N/W CORNER OF NORTH 22ND ST. & GRIFFITHS AVE. |
| City | Louisville |
| Number Of Units Total | 4 |
| MLS Area | 01-Dtwn Old Louisville/Shively/West Lou |
| MLS Area Minor | 01-Dtwn Old Louisville/Shively/West Lou |
| Standard Status | Active Under Contract |
| Tax Lot | 0017 |
Interior Features
| Air Conditioning Y/N | true |
|---|---|
| Heating Y/N | true |
| Above Grade Finished Area | 4590 |
| Total Bedrooms | 7 |
| Total Baths | 4 |
Exterior Features
| Exterior Amenities | None |
|---|---|
| Lot Features | Corner Lot,Sidewalk |
| Water Source | Public |
| Building Area Total | 4590 |
| Lot Dimensions |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in 40212
Price
Year Built
Data last updated: September 25, 2026 3:27 AM UTC and updating occurs daily
The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of Metro Search, Inc. Real estate listings held by brokerage firms other than eXp Realty in Kentucky are marked with the Internet Data Exchange logo or the Internet Data Exchange thumbnail logo and detailed information about each listing includes the name of the listing broker.
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