Prime Athens Multifamily Redevelopment
253 W Union St Athens, OH 45701
For Sale
$900,000
MULTI_FAMILY - Athens, OH
Property Size6,746 SF
Price / SF$133.41
Days on Market89
Property Features for 253 W Union St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi-Family
Bedrooms
12
Bathrooms
6
Rooms
Bathroom 6, Bedroom 11, Bathroom 3, Bedroom 6, Bedroom 7, Bedroom 2, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 9, Bedroom 12, Bathroom 4, Bedroom 8, Bathroom 5, Bedroom 5, Bedroom 10, Bedroom 1
Interior features
Flooring- Carpet, Flooring- Linoleum
Standard status
Active
APN
A027250001800, 1900,
Size
6,746 SF
Taxes and HOA fees
Tax Annual Amount
11350
Utilities
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Building Details
Year built
1900
Number of units
4
Roof type
Shingle
Architectural style
Other
Listing Agency:
e-Merge Real Estate
(614) 678-5505
Listed By:
Dan Abdella · License #0000441791
(740) 591-7797
Added: May 2
Changed: Jun 10
Last Checked: Jul 29 at 8:06AM
MLS# 2434848
Copyright © 2026 Athens County 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 offering presents an investment and redevelopment opportunity featuring four adjacent properties located in a desirable area of Athens, Ohio. The properties are situated within walking distance of the Ohio University campus, offering close proximity to the campus, historic Court Street, and the OhioHealth O'Bleness Hospital complex. The location also provides access to the city bus line, making it suitable for tenants or redevelopment plans. Encompassing 6,746 square feet, the properties are zoned for multi-family use and are not located in a floodplain. The site benefits from two existing curb cuts off Union Street and ATO. The properties are positioned for long-term rental income with improvements or a complete tear-down and new construction, subject to city permits. Opportunities to acquire multiple side-by-side properties near campus and uptown Athens are rare, presenting a chance to invest, reimagine, or redevelop in a sought-after area.
Key Highlights
- Two existing curb cuts off W Union St and ATO; property is reported to be out of the floodplain
- Four adjacent properties included: 253, 255, 257, and 259 W Union St
- Central air and forced‑air natural gas heating
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 | $99.6k | $14.76 |
| − Vacancy | −$14.8k | −$2.20 |
| EGI | $84.7k | $12.56 |
| − OpEx | −$25.4k | −$3.77 |
| NOI | $59.3k | $8.79 |
6,746 SF · lease $14.76/SF/yr · vacancy 14.89% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$847.4K
$741.5K – $988.7K
NOI $59,321 @ 7.0% cap · market cap 6.59%
Second Best
Apartment 5plus
$777.8K
$680.5K – $907.4K
NOI $54,443 @ 7.0% cap · market cap 6.05%
Theoretical Best
Office A
$1.54M
$1.35M – $1.80M
NOI $107,847 @ 7.0% cap · market cap 11.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Quadplex - Four adjacent properties near Ohio University with redevelopment potential.
Where is this quadplex located?
The property is located at 253 W Union St Athens, OH.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Two existing curb cuts off W Union St and ATO; property is reported to be out of the floodplain; Four adjacent properties included: 253, 255, 257, and 259 W Union St; Central air and forced‑air natural gas heating
