2315 Portland Ave, Louisville, KY 40212
PORTLAND · Jefferson County
Key Facts
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 (12.8% 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 has 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, gutter, 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, brand new roof replacement in 2024 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. Also available is another 4-plex at 2201 Griffiths Ave with similar cap rate, perfect for adding all 8 units to your portfolio, buy all 8 units and get a discount. Schedule your tour today.
Property Information
Property Type
Residential Income
Sub-Type
Quadruplex
Style
Traditional
Year Built
1900
Living Area
3,338 sq ft
Lot Dimensions
0
Parking Spaces
1
Days on Market
44
MLS® Listing#
1716415
Property Features
Exterior
Cooling
Heating
Patio
Construction
Roof
Utilities
Sewer
Water Source
Financial Details
HOA
None
Parcel Number
005G00080000
Directions
I64 to 22nd St. Right on Portland Ave to property on right.
Affordability Calculator
$55,980
Estimated monthly payment
$1,490/mo
Principal $223,920 · Est. interest $312,388 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Louisville, KY
- $298,513
- Median Listing Price
- 40
- Median Days on Market
- 1,708
- Median Sq Ft
- $164
- Median Price / Sq Ft
- 2,171
- Active Listings
- This home’s price is 6% below the area median.
- Its price per sq ft is 49% below the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Louisville, KY.
Location
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Points of Interest in Louisville, KY
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|---|---|---|---|---|
| 2008 W Jefferson St, Louisville, KY | $199,000 | 6 | 6 | 5,446 |
| 343 Glendora Ave, Louisville, KY | $199,000 | 4 | 1 | 1,458 |
| 3722 Vermont Ave, Louisville, KY | $199,000 | 7 | 3 | 2,880 |
| 1505 Larchmont Avenue, Louisville, KY | $199,749 | 4 | 2 | 1,494 |
| 1505 Larchmont Avenue, Louisville, KY | $199,749 | 4 | 2 | 1,494 |
| 1505 Larchmont Ave, Louisville, KY | $199,749 | 4 | 2 | 2,508 |
Moving Cost Estimate
EXIT Agents in Louisville
Listing Courtesy: EXP Realty LLC - 8886246448