Price Reduction
Address
2315 Portland Ave, Louisville, KY
Price
$ 274,900
Property Attributes
- MLS#1726467
- TypeMulti-Family
- Listing Status Active
- CountyJefferson
- CityLouisville
- AreaDtwn Old Louisville-Shively-West Lou
- NeighborhoodPORTLAND
- Zip40212
- StyleTraditional
- Year Built1900
- Price$ 274,900
- Bedrooms5
- Full Bathrooms4
- Half Bathrooms0
- Sqr Footage3338
Data Source:
Metro Search, Inc.
Property Description
Projected 12.9% self-managed cap rate (11.6% professionally managed). This four-unit investment opportunity consists of two adjacent parcels being sold together, including a three-unit apartment building at 2315 Portland Avenue and a detached single-family home with private access and garage at 2316 Tyler Avenue. The property generates $45,984 in annual gross income and $36,084 in annual NOI. One unit is currently vacant and rent-ready, allowing the next owner to immediately increase income while the remaining units continue generating cash flow. The Portland Avenue building (3 units) has undergone extensive improvements, including newer roofing, siding, trim, replacement windows, exterior paint, gutters, exterior lighting, concrete repairs, landscaping, updated PEX plumbing, drain line improvements, and a newer water heater. Each apartment includes laundry connections and individual room heaters for efficient heating and simplified maintenance. The detached Tyler Avenue home ( 1 SFR) was extensively renovated before the current tenancy and features updated flooring, bathroom, lighting, plumbing, electrical devices, replacement siding and windows, a newer roof and gutters, laundry connections, and a spacious detached garage. Both properties utilize window AC units and efficient, low-maintenance heating systems designed to minimize long-term ownership costs. The properties share a water service and are being sold together, creating a turnkey investment with stable long-term tenants, immediate leasing upside, and attractive cash flow from day one. A current rent roll and operating information are available under Documents.
| Price History | |
|---|---|
| 8/17/2026 | Listed $279,900 |
| 9/14/2026 | 2$274,900 |
General Features
| Heating | Electric,Natural Gas,Other |
|---|---|
| Cooling | Wall/Window Unit(s) |
| Utilities | Electricity Connected,Fuel:Natural |
| Roof | Asphalt,Shingle |
| Architectural Style | Traditional |
| Construction Materials | Vinyl Siding,Wood Frame,Aluminum Siding |
| Year Built | 1900 |
| Tenant Pays | Electricity |
| Property Subtype | Quadruplex |
| OwnerPays | Gas,Sewer,Water |
| County | Jefferson |
| Property Type | Multi Family |
| HOA | false |
| Subdivision Name | PORTLAND |
| Garage Y/N | true |
| Status | Active |
| Directions | I64 to 22nd St. Right on Portland Ave to property on right. |
| 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 |
| Tax Lot | 005G |
Interior Features
| Air Conditioning Y/N | true |
|---|---|
| Heating Y/N | true |
| Above Grade Finished Area | 3338 |
| Total Bedrooms | 5 |
| Total Baths | 4 |
Exterior Features
| Exterior Amenities | None |
|---|---|
| Lot Features | Sidewalk |
| Water Source | Public |
| Building Area Total | 3338 |
| Lot Dimensions | 50X130 |
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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