48
See all 48 photos
$319,900
Est. payment /mo
7 Beds
4 Baths
4,590 SqFt
New
2201 Griffiths Ave Louisville, KY 40212
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Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 4,590 sqft
Price per Sqft $69
Subdivision Portland
MLS Listing ID 1716279
Style Traditional
Bedrooms 7
HOA Y/N No
Abv Grd Liv Area 4,590
Year Built 1890
Property Sub-Type Quadruplex
Source APEX MLS (Greater Louisville Association of REALTORS®)
Land Area 4590
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.
Location
State KY
County Jefferson
Direction N/W CORNER OF NORTH 22ND ST. & GRIFFITHS AVE.
Interior
Heating Natural Gas
Cooling Wall/Window Unit(s)
Exterior
Exterior Feature None
View Y/N No
Roof Type Shingle
Garage No
Building
Lot Description Corner Lot, Sidewalk
Sewer Public Sewer
Water Public
Architectural Style Traditional
Structure Type Vinyl Siding,Wood Frame,Aluminum Siding
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Listed by EXP Realty LLC