8-Unit Ranch Apartment
For Sale
$649,900
101 115 Race St, Hamilton, OH 45011
Single-bedroom residences feature separated utilities, with off-street parking serving the property.
Property Size4,480 SF
Price / SF$145.07
Days on Market9
Property Features for 101 115 Race St
General Information
Standard status
Active
Size
4,480 SF
Units
Unit Mix
8 x 1BR
Multifamily Units
8
Building Details
Year Built
1973
Buildings
1
Construction
ranch style
Listing Agency:
Combs Group DC Realty
Listed By:
Courtney E Combs
(513) 236-0798
Source:
Lovdalgroup
Added: Sep 28
Last Checked: Oct 5 at 9:53PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Combs Group DC Realty
Investment Insights
Based on property information with market context.
This 8-unit ranch-style apartment building contains 8 single-bedroom apartments across 4,480 square feet. Utilities are separated by apartment, and the property includes off-street parking. Built in 1973, the building has received kitchen and bathroom updates: 6 kitchens and 5 bathrooms are new.
The property is at 101 115 Race St in Hamilton, Ohio, along a river and within German Village.
The property is at 101 115 Race St in Hamilton, Ohio, along a river and within German Village.
Key Highlights
- 8 single‑bedroom apartments in a 4,480‑square‑foot building
- Utilities separated by apartment
- 6 new kitchens and 5 new bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,205
Cap Rate
6.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$804,100
$804.1K
Cap Rate 7%
$574,357
$574.4K
Cap Rate 9%
$446,722
$446.7K
Market Conditions
NOI Build-Up for 4,480 SF
Gross rent
$79.0K $17.64/SF
− Vacancy
−$5.9K −$1.32/SF
EGI
$73.1K $16.32/SF
− OpEx
−$32.9K −$7.34/SF
NOI
$40.2K $8.97/SF
Area
Butler County, OH
Vacancy
7.50%
Lease Rate
$17.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$804,100
Cap Rate 7%
$574,357
Cap Rate 9%
$446,722
Alternative Uses
Best Use
Apartment 5plus
$574.4K
$502.6K – $670.1K
NOI $40,205 @ 7.0% cap · market cap 6.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$885.8K
$775.1K – $1.03M
NOI $62,005 @ 7.0% cap · market cap 9.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
1,087
Businesses Nearby
Explore this area
Business Placement
Demographics for 45011, OH
73,596
Population
28,470
Households
2.6
Avg Household Size
38
Median Age
31%
College-Educated
88%
High-School Grad
60.4 sq mi
ZIP Area
1,218
Density / Sq Mi
$90,360
Median Household Income
$45,147
Median Earnings
$1,005
Median Rent
$272,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - Single-bedroom residences feature separated utilities, with off-street parking serving the property.
Where is this apartment building located?
The property is located at 101 115 Race St Hamilton, OH.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: 8 single‑bedroom apartments in a 4,480‑square‑foot building; Utilities separated by apartment; 6 new kitchens and 5 new bathrooms
