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2315 Portland Ave, Louisville, KY 40212

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For Sale

$329,000

5 beds • 3,338 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • Newly Listed
    Time on Century 21

  • $98.56
    Price per square foot

  • Over 50 Years Old
    Age

Explore this Property

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.
MLS# 1702368

Courtesy Of eXp Realty

(888) 624-6448

Property Features

  • Age
    Over 50 Years Old
  • Amenities
    Porch, Patio
  • Architecture Style
    Other
  • Exterior Type
    Aluminum Siding, Vinyl Siding
  • Roof Type
    Asphalt

Map and Directions

Directions to 2315 Portland Ave, Louisville, KY 40212

Home seller CENTURY 21 Dick Vreeland & Associates

Get to know the neighborhood. A local affiliated CENTURY 21 office will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 Dick Vreeland & Associates

(502) 968-4175
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† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.