Under Contract

2201 Griffiths Ave

Louisville, KY 40212
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Bed 7

Bed

Bath 4

Bath

SqFt4,590

Sqft

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-bedr oom 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. Also available is another 4-plex at 2315 Portland Ave with similar cap rate, perfect for adding all 8 units to your portfolio, buy all 8 units and get a discount.

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Detail Ic Property Details

Property Type : Residential Income

Price : $309,900

AD Id : 77966263

MLS Id : 1716279

Beds : 7

Living Area Size : 4,590

Year Built : 1890

County : Jefferson

Subdivision: Portland

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Feature Features

  • Bedroom Information

    Total beds: 7

    Bathroom Information

    Total Baths: 4

    Room Information

    Has Basement: Yes
  • Roofing Information

    Shingle
  • Interior Features

    Roof: Shingle
  • Heating & Cooling

    Has Heating: Yes Heating: Natural Gas Has Cooling: Yes Cooling: Wall/Window Unit(s)

  • Building Information

    Year Built: 1890 Building Area Total: 4590 Construction Materials: Vinyl Siding, Aluminum Siding, Frame Private Pool: No
  • Exterior Features

    Exterior Features: None

  • Lot Information

    Lot Dimensions: <.25 Lot Description: Corner Lot

    Property Information

    Subdivision: PORTLAND Source Property Type: Residential Income MLS Area Minor: 01-Dtwn Old Louisville/Shively/West Lou Property SubType: Quadruplex Property Age: 136

  • Listing Price Information

    Listing Price: $309900 Original Price: $319900

  • Tax Information

    Parcel Number: 004J00170000 Tax Lot: 0017 Tax Block: 004J

  • Parking Information

    Parking Total: 1

  • Utility Information

    Natural Gas Available, Electricity Connected
  • Location Information

    Direction: N/W CORNER OF NORTH 22ND ST. & GRIFFITHS AVE. WaterSource: Public
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Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
2142 Duncan St, Louisville, KY, 40212 $160,000 3 1 1,310 1,310 SqFt
2315 Portland Ave, Louisville, KY, 40212 $279,900 5 4 3,338 3,338 SqFt
2518/2520 Rowan St, Louisville, KY, 40212 $150,000 6 2 2,604 2,604 SqFt
2611 W Market St, Louisville, KY, 40212 $99,900 7 3 3,465 3,465 SqFt
2715 Saint Xavier St, Louisville, KY, 40212 $115,000 3 2 1,152 1,152 SqFt
444 N 28th St, Louisville, KY, 40212 $175,000 2 2 1,440 1,440 SqFt
2754 W Main St, Louisville, KY, 40212 $155,000 5 3 2,335 2,335 SqFt
333 N 29th St, Louisville, KY, 40212 $155,000 8 4 2,432 2,432 SqFt
2751 Alford Ave, Louisville, KY, 40212 $250,000 4 4 2,184 2,184 SqFt
330 N 29th St, Louisville, KY, 40212 $250,000 12 10 --

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ByOwner last updated this listing 07/25/2026 @ 15:24

MLS: 1716279 LISTED BY: Jonathan Klunk, EXP Realty LLC 888-624-6448 SOURCE: Greater Louisville Association of REALTORS

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