Renovated Norwood Four-Unit Investment
2033 Maple Avenue Norwood, OH 45212
2033 Maple Avenue, Norwood, OH, 45212
$575,000
Pending
For Sale
$575,000
Pending
MULTI_FAMILY - Norwood, OH
Property Size2,942 SF
Lot Size0.13 Acres
Days on Market103
Property Features for 2033 Maple Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- Driveway, Off Street
- Window features
- Vinyl Frames
- Patio and Porch features
- Deck, Porch
- Exterior features
- Deck, Porch, Balcony, Wood Fence
- Fencing
- Wood
- Fireplace
- 1
- Standard status
- Pending
- APN
- 651-0025-0012-00
- Size
- 2,942 SF
- Lot size
- 0.13 Acres
Utilities
- Heating system
- Forced Air
Building Details
- Year built
- 1910
- Number of units
- 4
- Building materials
- Vinyl Siding
- Roof type
- Shingle
Listing agency
Keller Williams Advisors
(513) 766-9200
Listed by
Daniel Baron
(513) 766-9200
Added: Apr 11 Updated: Jul 22 at 5:13AM Checked: Jul 22 at 4:06PM
MLS# 1874718
Copyright © 2026 MLS of Greater Cincinnati, Inc. 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 fully renovated four-unit property in Norwood presents an investment opportunity. The turnkey property features three 1-bedroom units and one studio unit. Three of the four units are currently occupied, generating a total rental income of $4,070 per month. Unit 1 is rented for $1,490 per month, Unit 2 for $1,280 per month, and Unit 3 for $1,300 per month. The lease for Unit 3 ends in July. The studio unit, Unit 4, is currently vacant and used as a short-term rental, with an estimated rental income of $1,100 per month, bringing the projected total income to $5,170 per month. Tenants are responsible for utilities. Each unit is equipped with its own washer and dryer. The building was completely renovated in 2021 with a new roof, A/C, and electrical panel. A new water heater was installed in 2022, along with new HVAC/split units. The property is situated in a convenient location near shopping, dining, and highways. The property size is 2,942 square feet and the lot size is 0.13 acres.
Key Highlights
- Fully renovated 4‑unit property with three 1‑bedroom units and one studio unit; Unit 3 lease ends in July
- Three units currently occupied with monthly rents of $1,490 (Unit 1), $1,280 (Unit 2), and $1,300 (Unit 3); total current rents $4,070/month
- Studio Unit 4 is vacant and used as a short‑term rental with estimated rent of $1,100/month and projected income to $5,170/month
Local 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 | $42.0k | $14.28 |
| − Vacancy | −$2.4k | −$0.80 |
| EGI | $39.7k | $13.48 |
| − OpEx | −$11.9k | −$4.04 |
| NOI | $27.8k | $9.44 |
2,942 SF · lease $14.28/SF/yr · vacancy 5.61% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$396.5K
$347.0K – $462.6K
NOI $27,758 @ 7.0% cap · market cap 4.83%
Second Best
Apartment 5plus
$362.8K
$317.5K – $423.3K
NOI $25,398 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$527.4K
$461.5K – $615.4K
NOI $36,921 @ 7.0% cap · market cap 6.42%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Isalis
(Bike/Boat/Book/etc) Store
Party City
Party Supply Store
Skunk Funk
Big Box & Wholesale Store
Carl's Trading Co
Hat Shop
Bushka's Kitchen LLC
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Fully renovated four-unit property in Norwood with strong income potential.
Where is this quadplex located?
The property is located at 2033 Maple Avenue Norwood, OH.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Fully renovated 4‑unit property with three 1‑bedroom units and one studio unit; Unit 3 lease ends in July; Three units currently occupied with monthly rents of $1,490 (Unit 1), $1,280 (Unit 2), and $1,300 (Unit 3); total current rents $4,070/month; Studio Unit 4 is vacant and used as a short‑term rental with estimated rent of $1,100/month and projected income to $5,170/month
