2201 Griffiths Ave
Louisville, KY, 40212
$
309,900
Bedrooms7
Baths4.0
Sq
4,590
Monthly Estimate*
$
1,957
for $309,900 with 7 bedrooms and 4 full baths. This 4,590 square foot home was built in 1890.
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. 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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Features
General
Heating
Natural Gas
Cooling
Wall/Window Unit(s)
Utilities
Electricity Connected
Fuel:Natural
Roof
Shingle
HOA Fee
0
Architectural Style
Traditional
Construction Materials
Vinyl Siding
Wood Frame
Aluminum Siding
Year Built
1890
Tenant Pays
Electricity
Gas
Property Subtype
Quadruplex
County
Jefferson
Property Type
Multi Family
HOA
false
Subdivision Name
PORTLAND
Garage Y/N
false
Status
Active Under Contract
Directions
N/W CORNER OF NORTH 22ND ST. & GRIFFITHS AVE.
City
Louisville
Number Of Units Total
4
MLS Area
01-Dtwn Old Louisville/Shively/West Lou
Lot Size Square Feet
0
MLS Area Minor
01-Dtwn Old Louisville/Shively/West Lou
Standard Status
Active Under Contract
Tax Lot
0017
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Interior
Air Conditioning Y/N
true
Heating Y/N
true
Above Grade Finished Area
4590
Total Bedrooms
7
Below Grade Finished Area
0
Total Baths
4
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Exterior
Exterior Amenities
None
Lot Features
Corner Lot
Sidewalk
Water Source
Public
Building Area Total
4590
Lot Dimensions
<.25
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* Excluded Features
List By
jonathan@gokeysource.com
Email
Affordability Calculator
- Monthly Principal & Interest
- $1,957
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.49% 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. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
Multi-family listings in Louisville, KY
Average List Price
$545,042
Percent of Sale Price
76%
About Louisville, KY
240,969
Population
-5%
Since 2002
$
37,029
Median Income
37.52
Median Age
22%
Households with Children
Trends Information provided by ATTOM Data Solutions.
0
Elementary School
0
Middle School
Unknown High School
High School
Pricing History
| Date |
Price |
Price Change |
Description |
|
6/8/2026
|
$309,900
|
-1.59%
|
Price Down
|
|
5/22/2026
|
$314,900
|
-1.56%
|
Price Down
|
|
5/5/2026
|
$319,900
|
|
Listed Price
|