Homes for sale - 2315 Portland Ave, Louisville, KY 40212

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Tommy Arnold

tommy@aspirelouisville.com +1(502) 442-1133

$ 329,000

Est. payment | -/mo

5 Beds

4 Baths

3,338 SqFt

Save

$ 329,000

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 $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.

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

Greater Louisville MLS (Metro Search Inc)

Listed by EXP Realty LLC

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

+1(502) 442-1133

tommy@aspirelouisville.com

2420 Lime Kiln Lane - STE E, Louisville, KY, 40222

2315 Portland Ave Louisville, KY 40212