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Amanda Midkiff

amanda@midkiffteam.com +1(502) 767-9087

$ 319,900

Est. payment | -/mo

7 Beds

4 Baths

4,590 SqFt

Save

$ 319,900

Est. payment | -/mo

Save

7 Beds

4 Baths

4,590 SqFt

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

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) 767-9087

amanda@midkiffteam.com

6500 Glenridge Park Pl, Louisville, KY, 40222, USA

2201 Griffiths Ave Louisville, KY 40212

Amanda Midkiff

Key Details

Location

Interior

Exterior

Building

Nearby Locations

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2201 Griffiths Ave