4-Unit Brick
1132 Franklin Ave, Cincinnati, OH 45217
For Sale
New
$320,000
Four one-bedroom apartments include an updated unit and another undergoing renovation for occupancy before closing.
Property Size3,264 SF
Price / SF$98.04
Days on Market5
Property Features for 1132 Franklin Ave
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Additional Details
Gross Income
Tenant in Place
Building Details
Buildings
Construction
Tenancy
Listing Agency:
Keller Williams Seven Hills Re
(513) 371-5070
Listed By:
Jennifer Pope
(513) 907-0299
Source:
Exprealty
Added: Nov 3
Changed: Nov 7
Last Checked: Nov 7 at 5:35PM
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 Keller Williams Seven Hills Re
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Investment Insights
Based on property information with market context.
This 3,264-square-foot brick quadplex contains four one-bedroom apartments. The roof was replaced in 2021, and the boiler and water heater were updated in 2020. Unit 1 is nearing the end of a full renovation and is expected to be ready for owner occupancy before closing.
Unit 2 has a bathroom remodeled in 2025 and is rented month to month. Unit 3 has been renovated and is under lease through April 2027. Unit 4 is also rented month to month. Together, the three occupied apartments currently generate rental income; no rental amounts are included here.
Unit 2 has a bathroom remodeled in 2025 and is rented month to month. Unit 3 has been renovated and is under lease through April 2027. Unit 4 is also rented month to month. Together, the three occupied apartments currently generate rental income; no rental amounts are included here.
Key Highlights
- Four one‑bedroom apartments in a 3,264‑square‑foot brick building
- Roof replaced in 2021; boiler and water heater updated in 2020
- Unit 1 renovation nearing completion, with owner occupancy planned before closing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,348
Cap Rate
8.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$546,960
$547.0K
Cap Rate 7%
$390,686
$390.7K
Cap Rate 9%
$303,867
$303.9K
Market Conditions
NOI Build-Up for 3,264 SF
Gross rent
$41.5K $12.72/SF
− Vacancy
−$2.4K −$0.75/SF
EGI
$39.1K $11.97/SF
− OpEx
−$11.7K −$3.59/SF
NOI
$27.3K $8.38/SF
Area
Cincinnati, OH
Vacancy
5.90%
Lease Rate
$12.72 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$546,960
Cap Rate 7%
$390,686
Cap Rate 9%
$303,867
Alternative Uses
Best Use
Multifamily LT 5
$390.7K
$341.9K – $455.8K
NOI $27,348 @ 7.0% cap · market cap 8.55%
Second Best
Apartment 5plus
$346.4K
$303.1K – $404.2K
NOI $24,251 @ 7.0% cap · market cap 7.58%
Theoretical Best
Office A
$648.8K
$567.7K – $757.0K
NOI $45,419 @ 7.0% cap · market cap 14.19%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
428
Businesses Nearby
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Business Placement
Demographics for 45217, OH
6,177
Population
2,852
Households
2.2
Avg Household Size
39
Median Age
34%
College-Educated
94%
High-School Grad
2.2 sq mi
ZIP Area
2,808
Density / Sq Mi
$67,974
Median Household Income
$45,789
Median Earnings
$923
Median Rent
$149,200
Median Home Value
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Market
Properties on Market for Quadplexes in Cincinnati
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Four one-bedroom apartments include an updated unit and another undergoing renovation for occupancy before closing.
Where is this quadplex located?
The property is located at 1132 Franklin Ave Cincinnati, OH.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: Four one‑bedroom apartments in a 3,264‑square‑foot brick building; Roof replaced in 2021; boiler and water heater updated in 2020; Unit 1 renovation nearing completion, with owner occupancy planned before closing
