Four-Unit Apartment
For Sale
$199,000
1606-1608 W High Street, Springfield, OH 45506
MULTI_FAMILY - Other - Springfield, OH
Property Size2,816 SF
Lot Size0.22 Acres
Price / SF$70.67
Days on Market90
Property Features for 1606-1608 W High Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bedroom 4, Bedroom 2, Bedroom 3, Bedroom 1, Bathroom 2, Bathroom 1, Bathroom 4
Patio and Porch features
Deck, Porch
Basement
Unfinished, Block
Appliances
Gas Water Heater
Lot features
Residential Lot
Elementary school district
1206 Springfield CSD
Middle school district
1206 Springfield CSD
High school district
1206 Springfield CSD
Directions
West High St to address
Subdivision
014 S OF MAIN / W OF LIMESTONE
Standard status
Active
APN
3400600010206017
Size
2,816 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Building Details
Year built
1900
Floors in Building
2
Number of units
4
Flooring type
Hardwood, Vinyl
Building materials
Vinyl Siding
Architectural style
Other
Listing Agency:
Roost Real Estate Co.
(937) 390-3715
Listed By:
Tina Bleything · License #2016002796
(937) 390-3715
Added: May 4
Changed: Jul 28
Last Checked: Aug 1 at 4:06AM
MLS# 1045449
Copyright © 2026 West Metro Board 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.
Investment Insights
Based on property information with market context.
This four-unit apartment building includes four 1-bedroom, 1-bath residences. The units feature wood flooring and wood plank flooring in the kitchen areas, with vinyl flooring in the bathrooms. Each unit has large windows for natural light. Lower units have a private front porch, while the upper residences have a private deck to the back of the home. The property also provides a one-car detached garage for each unit.
The building is located on the west side of Springfield. Two upper units are currently vacant. Tenants are on yearly leases through 2/2027 and 3/2027.
The property is presented for sale with a lot size of 0.22 acres and a total building size of 2,816 square feet. A 48-hour notice is required for showings, and curb offers are encouraged subject to a walkthrough.
The building is located on the west side of Springfield. Two upper units are currently vacant. Tenants are on yearly leases through 2/2027 and 3/2027.
The property is presented for sale with a lot size of 0.22 acres and a total building size of 2,816 square feet. A 48-hour notice is required for showings, and curb offers are encouraged subject to a walkthrough.
Key Highlights
- 4‑unit apartment building with 5,632 SF; each unit has a 1‑bedroom, 1‑bath layout.
- Two upper units are currently vacant for immediate rent‑up; projected total monthly income is about $2,800 (additional est. $1,300/mo).
- Tenants are on yearly leases through 2/2027 and 3/2027 for the occupied units.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $14.9k | $5.28 |
| − Vacancy | −$1.2k | −$0.43 |
| EGI | $13.7k | $4.85 |
| − OpEx | −$4.1k | −$1.45 |
| NOI | $9.6k | $3.39 |
2,816 SF · lease $5.28/SF/yr · vacancy 8.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$136.5K
$119.5K – $159.3K
NOI $9,558 @ 7.0% cap · market cap 4.80%
Second Best
Apartment 5plus
$118.3K
$103.5K – $138.0K
NOI $8,281 @ 7.0% cap · market cap 4.16%
Theoretical Best
Specialty Retail
$785.5K
$687.3K – $916.4K
NOI $54,983 @ 7.0% cap · market cap 27.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
50%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
442
Businesses Nearby
Explore this area
Business Placement
Demographics for 45506, OH
13,330
Population
6,613
Households
2
Avg Household Size
39
Median Age
13%
College-Educated
87%
High-School Grad
12.2 sq mi
ZIP Area
1,093
Density / Sq Mi
$40,132
Median Household Income
$34,774
Median Earnings
$800
Median Rent
$101,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four 1-bedroom, 1-bath units in a 4-unit apartment building with detached garages for each unit.
Where is this quadplex located?
The property is located at 1606-1608 W High Street Springfield, OH.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: 4‑unit apartment building with 5,632 SF; each unit has a 1‑bedroom, 1‑bath layout.; Two upper units are currently vacant for immediate rent‑up; projected total monthly income is about $2,800 (additional est. $1,300/mo).; Tenants are on yearly leases through 2/2027 and 3/2027 for the occupied units.
