2201 Griffiths Ave

High-Yield 4-Unit Multifamily | 13.5% Cap Rate | Stabilized Asset | Louisville, KY

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 NOI, delivering a 13.5% cap rate at the current list price of $319,900. Financials are supported by a clean T-12 with consistent collections and minimal vacancy, making this a highly financeable asset with an estimated DSCR of ~2.0+ under typical lending terms.

The property has undergone extensive renovations over the past 4 years, contributing to tenant retention and reducing near-term capital expenditure needs. The unit mix (1BR, 2BR, and 3BR) supports broad rental demand, and long-term tenants provide additional income stability.

Operationally efficient, with tenants paying separately metered utilities and ownership responsible only for water/sewer, resulting in a low ~21% expense ratio and high NOI margin (~79%). 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 strong demand for workforce housing, with convenient access to major employment centers, logistics corridors, and transportation routes.

Investment Highlights:

• 4-unit multifamily property (100% occupied)
• 13.5% cap rate | ~$43K NOI
• Estimated DSCR ~2.0+ (easy to finance)
• Low expense ratio (~21%)
• Proven income history (not pro forma)
• Recent renovations
• Strong unit mix (1BR / 2BR / 3BR)
• Tenant-paid utilities (separately metered)
• Minutes to Downtown Louisville

Ideal for cash flow investors, 1031 exchange buyers, or those seeking a stabilized multifamily asset with immediate returns.