**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!
For sale
$385,000
221 E 4th St, London, KY 40741
8beds
4,905sqft
Multi Family
Built in 1947
-- sqft lot
$279,900 Zestimate®
$78/sqft
$-- HOA
What's special
New metal roof
- 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#: 26028525
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
| Date | Event | Price |
|---|---|---|
| 10/15/2026 | Listed for sale | $385,000+6.9%$78/sqft |
Source: | ||
| 5/17/2025 | Listing removed | $360,000$73/sqft |
Source: | ||
| 11/18/2024 | Listed for sale | $360,000$73/sqft |
Source: | ||
| 10/12/2024 | Listing removed | $360,000$73/sqft |
Source: | ||
| 7/22/2024 | Price change | $360,000-1.4%$73/sqft |
Source: | ||
| 5/14/2024 | Listed for sale | $365,000+143.3%$74/sqft |
Source: | ||
| 8/9/2021 | Sold | $150,000-9.1%$31/sqft |
Source: Public Record Report a problem | ||
| 4/16/2021 | Pending sale | $165,000$34/sqft |
Source: | ||
| 10/5/2020 | Price change | $165,000-2.9%$34/sqft |
Source: London - WEICHERT, REALTORS - Ford Brothers #20015362 Report a problem | ||
| 8/3/2020 | Listed for sale | $169,900-5.6%$35/sqft |
Source: WEICHERT REALTORS - Ford Bros #20015362 Report a problem | ||
| 4/26/2020 | Listing removed | $179,900$37/sqft |
Source: Hodges Elite Real Estate, LLC #1925346 Report a problem | ||
| 1/8/2020 | Price change | $179,900-10%$37/sqft |
Source: Hodges Elite Real Estate, LLC #1925346 Report a problem | ||
| 12/4/2019 | Listed for sale | $199,900$41/sqft |
Source: Hodges Elite Real Estate, LLC #1925346 Report a problem | ||
Public tax history
| Year | Property taxes | Tax 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.Climate risks
Neighborhood: 40741
Nearby schools
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.






