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Louisville Rental Portfolio: 16 Units

602 Colorado Ave, Louisville, KY 40208

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For Sale

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16-unit rental portfolio in Louisville, 100% occupied, $225,036 annual rent.

Type:Multifamily

Property size:

17,100 SF

Price / SF:

$130/SF

HighLights

100% Occupancy: Portfolio is fully occupied, ensuring immediate rental income.
Strong Cash Flow: Generates $18,753 monthly gross rent ($225,036 annually).
Scale in One Closing: 16‑door portfolio (14 single‑family homes and 1 duplex) allows for immediate scaling.
Recent Capital Improvements: $226,120 invested in updates like new AC units, furnaces, kitchen improvements, flooring, and roof replacements.
Established Tenant Base: Average tenant tenure of 26.9 months indicates stability.
Desirable Unit Mix: Consists of 3 and 4‑bedroom homes and one duplex, appealing to families.

We can help!

Contact an agent

Stephanie Gilezan

For Sale

Contact for pricing

16-unit rental portfolio in Louisville, 100% occupied, $225,036 annual rent.

Type:Multifamily

Property size:

17,100 SF

Price / SF:

$130/SF

Added:: Feb 16, 2026
Days on Market:: 132
Last Refresh:: Mar 17 at 1:16 pm

Property Features for 602 Colorado Ave

General Information

Standard status: Active
Size: 17,100 SF
Property subtype: Multifamily

We can help!

Contact an agent

Stephanie Gilezan

Listing office eXp Commercial LLC

Listing date Feb 16, 2026

Source Crexi

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of eXp Commercial LLC

HighLights

100% Occupancy: Portfolio is fully occupied, ensuring immediate rental income.
Strong Cash Flow: Generates $18,753 monthly gross rent ($225,036 annually).
Scale in One Closing: 16‑door portfolio (14 single‑family homes and 1 duplex) allows for immediate scaling.
Recent Capital Improvements: $226,120 invested in updates like new AC units, furnaces, kitchen improvements, flooring, and roof replacements.
Established Tenant Base: Average tenant tenure of 26.9 months indicates stability.
Desirable Unit Mix: Consists of 3 and 4‑bedroom homes and one duplex, appealing to families.

Overview

This 16-door rental portfolio is located in the Taylor-Berry submarket of Louisville, KY. The portfolio consists of fourteen single-family homes and one duplex, totaling 16 units and 17,100 square feet. The properties are currently 100% occupied, generating $18,753 in monthly gross rent, which equates to $225,036 annually. The portfolio features an average tenant tenure of 26.9 months and includes 3 and 4-bedroom homes, as well as one duplex. Under current ownership, many of the homes have been updated with new AC units, furnaces, kitchen improvements, LVP/wood flooring, and roof replacements, representing a total capital expenditure of $226,120. This portfolio is suitable for investors seeking scale in one closing, operators looking to expand their Louisville presence, buy-and-hold cash flow investors, and 1031-exchange buyers.

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$217.5k	$12.72
− Vacancy	−$12.0k	−$0.70
EGI	$205.5k	$12.02
− OpEx	−$61.7k	−$3.61
NOI	$143.9k	$8.41

17,100 SF · lease $12.72/SF/yr · vacancy 5.50% · expense 30.00%

Alternative Uses

Best Use

Multifamily LT 5

$2.06M

$1.80M – $2.40M (±1% cap)

NOI $143,884 @ 7.0% cap · market cap 6.44%

Second Best

Apartment 5plus

$1.66M

$1.45M – $1.94M (±1% cap)

NOI $116,374 @ 7.0% cap · market cap 5.21%

Theoretical Best

Office A

$4.43M

$3.88M – $5.17M (±1% cap)

NOI $310,262 @ 7.0% cap · market cap 13.88%

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

Property Profile Location Intelligence

Current Use by Public Records

Duplexes

Suggested Use

Location Insight

Map
Local Demand

City: Louisville
County: Jefferson
State: Kentucky
Longitude: -85.7676527
Latitude: 38.2144382

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For sale
Apartment buildings
KY
Louisville
40208
602 Colorado Ave

What type of property is this?

Apartment building - 16-unit rental portfolio in Louisville, 100% occupied, $225,036 annual rent.

Where is this apartment building located?

The property is located at 602 Colorado Ave Louisville, KY.

What is the asking price?

The asking price for this property is $2,235,000.

What are key features of this property?

This property features: 100% Occupancy: Portfolio is fully occupied, ensuring immediate rental income.; Strong Cash Flow: Generates $18,753 monthly gross rent ($225,036 annually).; Scale in One Closing: 16‑door portfolio (14 single‑family homes and 1 duplex) allows for immediate scaling.