2315 Portland Ave, Louisville, KY 40212

• 5 beds |
• 4 baths |
• 3,338 sqft

Property Description

Projected 12.9% self-managed cap rate (11.6% professionally managed). This four-unit investment opportunity consists of two adjacent parcels being sold together, including a three-unit apartment building at 2315 Portland Avenue and a detached single-family home with private access and garage at 2316 Tyler Avenue. The property generates $45,984 in annual gross income and $36,084 in annual NOI. One unit is currently vacant and rent-ready, allowing the next owner to immediately increase income while the remaining units continue generating cash flow. The Portland Avenue building (3 units) has undergone extensive improvements, including newer roofing, siding, trim, replacement windows, exterior paint, gutters, exterior lighting, concrete repairs, landscaping, updated PEX plumbing, drain line improvements, and a newer water heater. Each apartment includes laundry connections and individual room heaters for efficient heating and simplified maintenance. The detached Tyler Avenue home ( 1 SFR) was extensively renovated before the current tenancy and features updated flooring, bathroom, lighting, plumbing, electrical devices, replacement siding and windows, a newer roof and gutters, laundry connections, and a spacious detached garage. Both properties utilize window AC units and efficient, low-maintenance heating systems designed to minimize long-term ownership costs. The properties share a water service and are being sold together, creating a turnkey investment with stable long-term tenants, immediate leasing upside, and attractive cash flow from day one. A current rent roll and operating information are available under Documents.

Listing Status:

Active

Date Added:

May 6, 2026

Data Last Updated:

August 6, 2026 at 2:39AM

Listing Office:

EXP Realty LLC : 888-624-6448

MLS ID:

1716415

Interior

• A/C: Wall/Window Unit(s)
• Heating: Natural GasOtherElectric

Exterior

• General: None
• Style: Traditional

Construction

• Roofing: ShingleAsphalt
• General: Wood FrameAluminum SidingVinyl Siding

Location

• HOA Amenities: 0.0
• Originating MLS: APEX MLS (Greater Louisville Association of REALTORS®)
• County: Jefferson

Lot

• Zoning: 005G00080000

Utilities

• Utilities: Electricity ConnectedFuel:Natural
• Water: Public

Financial

• Source: APEX MLS (Greater Louisville Association of REALTORS®)