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    2315 Portland Ave Louisville, KY 40212

    Sponsored
    For Sale
    $319,900

    MULTI_FAMILY - Louisville, KY

    Property size:
    3,338 SF
    Days on Market:
    3
    Last Refresh:
    Feb 21 at 2:06 pm

    Property Features for 2315 Portland Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bathroom 1, Bedroom 3, Bathroom 2, Bathroom 4, Basement, Bedroom 1, Bathroom 3, Bedroom 5, Bedroom 4, Bedroom 2
    Bedrooms
    5
    Bathrooms
    4
    APN
    005G00080000
    Patio and Porch features
    Patio, Porch
    Size
    3,338 SF

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Natural Gas
    Cooling system
    Wall/Window Unit(s), Window Unit(s)
    Water source
    Public

    Building Details

    Year built
    1900
    Number of units
    4
    Building materials
    Vinyl Siding, Wood Frame, Aluminum Siding
    Roof type
    Asphalt, Shingle

    We can help!

    Listing Contact
    Jonathan D Klunk

    eXp Realty (888) 624-6448

    Listing agent Jonathan D Klunk (888) 624-6448

    Listing date Feb 19, 2026

    MLS# 1709097 Listing URL

    Copyright © 2026 Greater Louisville Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Four-Unit Investment Opportunity in Louisville

    This investment opportunity includes two separate parcels being sold together. The properties feature three units on Portland Avenue and a two-bedroom single-family home with private access and a garage on Tyler Avenue. The combined properties generate a 12-month net operating income of $39,220. The Portland Avenue building contains three updated units, each equipped with laundry connections and individual floor heaters in every room. Unit 2 has long-term tenants, and Unit 1 was newly leased in October 2025. Updates to the Portland Avenue building include a new roof, siding and trim, 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 remodeled in 2024 and features laundry connections, a gas wall heater with a built-in blower fan, a new roof and gutters, siding and window replacements, exterior paint, landscaping, new flooring, an updated bathroom, new lighting, and replaced PEX plumbing with updated electrical outlets and switches. Both properties use window air conditioning units and have been outfitted with two new water heaters and new heating systems. The Tyler Avenue tenant pays consistently on time and plans to renew. The properties must be sold together due to a shared water meter, offering a turnkey investment with a solid rental history and strong cash flow. The property size is 3,338 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Louisville
    County
    Jefferson
    State
    Kentucky
    Longitude
    -85.786363
    Latitude
    38.270052

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    FAQs

    What type of property is this?
    Quadplex - Two parcels with strong rental history and cash flow.
    Where is this quadplex located?
    The property is located at 2315 Portland Ave Louisville, KY.
    What is the asking price?
    The asking price for this property is $319,900.
    What are key features of this property?
    This property features: - High 12% CAP Rate with $39,220 NOI, indicating strong cash flow potential.; - Extensive renovations inside and out, reducing future maintenance costs.; - Turnkey investment opportunity with a solid rental history and consistently on-time tenants.
    (888) 624-6448
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    2315 Portland Ave Louisville, KY 40212
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    Louisville, KY 40212
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2315 Portland Ave Louisville, KY 40212
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    We can help!
    Listing Contact
    Jonathan D Klunk
    (888) 624-6448
    Learn more
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