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For sale
  • $385,000

    221 E 4th St, London, KY 40741

    8beds
    4,905sqft
    : 
    $2,566/mo
    Get pre-qualified
    Multi Family
    Built in 1947
    -- sqft lot
    $279,900 Zestimate®
    $78/sqft
    $-- HOA

    What's special

    New metal roof
    **Prime Investment Opportunity in the Heart of Downtown London!** Expand your investment portfolio with this income-producing property featuring **5 rental units across 3 separate buildings**, currently zoned commercial and generating **$3,950 in monthly rental income ($47,400 annually)**! The property consists of two standalone homes, identified as House A and House B, along with a third building containing three additional rental units. **House A features a new metal roof**, and both homes offer basements with potential for conversion into additional efficiency apartments, subject to necessary approvals and permitting. Building 3 features two upstairs apartments, each offering 1 bedroom and 1 bathroom, along with a third rental unit on the lower level. **Apartment 1 has been renovated**, adding to the property's appeal. With a history of minimal vacancy and strong rental demand, this established investment offers consistent income potential. Tenants pay their own electric and water, helping minimize operating expenses. Situated in a convenient downtown location near local businesses, shopping, dining, and amenities, this property offers an attractive combination of **immediate rental income, multiple buildings, and potential for future expansion**. Whether you're growing your investment portfolio or looking for an established multifamily rental property, this downtown London opportunity is one you won't want to miss!
    3 days
    187
    15

    Likely to sell faster than

    Zillow last checked:

    Listing updated:

    Listed by:

    Lindsey A Wagers 606-767-3284,

    Keller Williams Legacy Group,

    Priscilla N Wagers 606-813-2003,

    Keller Williams Legacy Group

    Source: Imagine MLS,MLS#: 26028525MLS Logo

      Facts & features

      Interior

      Bedrooms & bathrooms
      • Bedrooms: 8
      • Bathrooms: 5
      • Full bathrooms: 5
      Heating
      • Heat Pump
      Cooling
      • Heat Pump
      Interior area
      • Total structure area: 4,905
      • Total interior livable area: 4,905 sqft

      Property

      Parking
      • Parking features: On Site, Paved
      Lot
      • Size: 5,227 Square Feet
      Details
      • Parcel number: 0509000071.00
      • Zoning: C-1
      • Zoning description: Commercial (40)
      • Special conditions: Standard

      Construction

      Type & style
      • Home type: MultiFamily
      • Property subtype: Multi Family
      Materials
      • Roof: Metal,Shingle
      Condition
      • Year built: 1947

      Utilities & green energy

      • Utilities for property: Electricity Connected, Sewer Connected, Water Connected

      Community & HOA

      Community
      • Subdivision: City Limits
      Location
      • Region: London

      Financial & listing details

      • Price per square foot: $78/sqft
      • Tax assessed value: $150,000
      • Annual tax amount: $1,167
      • Date on market: 10/15/2026
      • Listing terms: Cash,Conventional

        Estimated market value

        $279,900

        $221,000 - $347,000

        $1,129/mo

        Price history

        DateEventPrice
        10/15/2026Listed for sale$385,000+6.9%$78/sqft
        Source: Imagine MLS #26028525 Report a problem
        5/17/2025Listing removed$360,000$73/sqft
        Source: Imagine MLS #24009569 Report a problem
        11/18/2024Listed for sale$360,000$73/sqft
        Source: Imagine MLS #24009569 Report a problem
        10/12/2024Listing removed$360,000$73/sqft
        Source: Imagine MLS #24009569 Report a problem
        7/22/2024Price change$360,000-1.4%$73/sqft
        Source: Imagine MLS #24009569 Report a problem
        5/14/2024Listed for sale$365,000+143.3%$74/sqft
        Source: Imagine MLS #24009569 Report a problem
        8/9/2021Sold$150,000-9.1%$31/sqft
        Source: Public Record Report a problem
        4/16/2021Pending sale$165,000$34/sqft
        Source: Weichert Pro #20015362 Report a problem
        10/5/2020Price change$165,000-2.9%$34/sqft
        Source: London - WEICHERT, REALTORS - Ford Brothers #20015362 Report a problem
        8/3/2020Listed for sale$169,900-5.6%$35/sqft
        Source: WEICHERT REALTORS - Ford Bros #20015362 Report a problem
        4/26/2020Listing removed$179,900$37/sqft
        Source: Hodges Elite Real Estate, LLC #1925346 Report a problem
        1/8/2020Price change$179,900-10%$37/sqft
        Source: Hodges Elite Real Estate, LLC #1925346 Report a problem
        12/4/2019Listed for sale$199,900$41/sqft
        Source: Hodges Elite Real Estate, LLC #1925346 Report a problem

        Public tax history

        YearProperty taxesTax assessment
        2025$1,167 +0.9%$150,000
        2024$1,157 -2.5%$150,000
        2023$1,187 -0.6%$150,000
        2022$1,194 -12.3%$150,000 -9.1%
        2021$1,361 $165,000 +65%
        2020-- $100,000
        2019$834 +0.2%$100,000
        2018$832 +0.1%$100,000
        2017$831 $100,000 -74.5%
        2015$831 +3.6%$392,700 +292.7%
        2012$802 $100,000
        Find assessor info on the county website

        Monthly payment

        Est. payment

        Payment breakdown

        Explore the cost of this home by adjusting the details. Changes won't be saved.
        All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
        HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
        See how much you could borrow to make a competitive offer.

        Climate risks

        Neighborhood: 40741

        Getting around

        58 / 100
        Somewhat Walkable
        28 / 100
        Somewhat Bikeable

        Nearby schools

        GreatSchools rating
        Schools provided by the listing agent
        • Elementary: London
        • Middle: North Laurel
        • High: North Laurel

        Source: Imagine MLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.

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