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Colby Bentley

colby@colbybentley.com +1(502) 681-3572

$ 279,900

Est. payment | -/mo

5 Beds

4 Baths

3,338 SqFt

Save

$ 279,900

Est. payment | -/mo

Save

5 Beds

4 Baths

3,338 SqFt

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

Square Footage 3,338 sqft

Price per Sqft $83

Subdivision Portland

MLS Listing ID 1716415

Style Traditional

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

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.

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

Architectural Style Traditional

Structure Type Vinyl Siding,Wood Frame,Aluminum Siding

Greater Louisville MLS (Metro Search Inc)

Listed by EXP Realty LLC

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(502) 681-3572

colby@colbybentley.com

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2315 Portland Ave Louisville, KY 40212