Turnkey Fourplex with Off-Street
For Sale
$275,000
1246 Quebec Rd, Cincinnati, OH 45205
Fully occupied fourplex with four spacious 1-bedroom units, recent major mechanical upgrades, and dedicated tenant off-street parking.
Property Size2,269 SF
Price / SF$121.20
Days on Market107
Property Features for 1246 Quebec Rd
General Information
Standard status
Active
Size
2,269 SF
Property subtype
Residential Income
Occupancy
100%
Additional Details
Business Included
Yes
Highway Access
Yes
Multifamily Units
4
Building Details
Year Renovated
2024
Listing Agency:
eXp Realty
(216) 242-2322
Listed By:
Luana King · License #2024005617
(323) 994-9346
Source:
Exprealty
Added: Jun 22
Changed: Oct 5
Last Checked: Oct 5 at 7:37PM
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 eXp Realty
Investment Insights
Based on property information with market context.
This fully occupied fourplex includes four spacious one-bedroom units designed with comfortable layouts and exceptionally large rooms. Recent major upgrades provide added operational reliability, including new water heaters and furnaces installed in 2024, along with a brand-new gas line installed in 2025. The property also supports straightforward utility management with separate tenant utilities for gas and electric, while the owner covers water and sewer.
The building sits on a prominent corner lot and includes dedicated off-street parking spots for tenants. The property is located conveniently with access to I-75 just minutes away, and downtown Cincinnati is about 15 minutes from the site.
With all units currently in place, the asset offers immediate occupancy for an owner-operator or investor seeking a stabilized residential income property. Tenant utility separation can also simplify monthly operations by clearly allocating gas and electric to residents. The combination of four one-bedroom units, dedicated parking, and recent mechanical improvements supports practical day-to-day management.
The building sits on a prominent corner lot and includes dedicated off-street parking spots for tenants. The property is located conveniently with access to I-75 just minutes away, and downtown Cincinnati is about 15 minutes from the site.
With all units currently in place, the asset offers immediate occupancy for an owner-operator or investor seeking a stabilized residential income property. Tenant utility separation can also simplify monthly operations by clearly allocating gas and electric to residents. The combination of four one-bedroom units, dedicated parking, and recent mechanical improvements supports practical day-to-day management.
Key Highlights
- Fully occupied fourplex with four 1‑bedroom units and spacious layouts
- Major mechanical upgrades: new water heaters and furnaces installed in 2024
- New gas line installed in 2025
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,011
Cap Rate
6.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$380,220
$380.2K
Cap Rate 7%
$271,586
$271.6K
Cap Rate 9%
$211,233
$211.2K
Market Conditions
NOI Build-Up for 2,269 SF
Gross rent
$28.9K $12.72/SF
− Vacancy
−$1.7K −$0.75/SF
EGI
$27.2K $11.97/SF
− OpEx
−$8.1K −$3.59/SF
NOI
$19.0K $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%
$380,220
Cap Rate 7%
$271,586
Cap Rate 9%
$211,233
Alternative Uses
Best Use
Multifamily LT 5
$271.6K
$237.6K – $316.9K
NOI $19,011 @ 7.0% cap · market cap 6.91%
Second Best
Apartment 5plus
$240.8K
$210.7K – $281.0K
NOI $16,858 @ 7.0% cap · market cap 6.13%
Theoretical Best
Office A
$451.0K
$394.7K – $526.2K
NOI $31,573 @ 7.0% cap · market cap 11.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
419
Businesses Nearby
Explore this area
Business Placement
Demographics for 45205, OH
19,517
Population
7,874
Households
2.5
Avg Household Size
31
Median Age
17%
College-Educated
82%
High-School Grad
2.8 sq mi
ZIP Area
6,970
Density / Sq Mi
$41,357
Median Household Income
$32,537
Median Earnings
$855
Median Rent
$112,600
Median Home Value
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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?
Quadplex - Fully occupied fourplex with four spacious 1-bedroom units, recent major mechanical upgrades, and dedicated tenant off-street parking.
Where is this quadplex located?
The property is located at 1246 Quebec Rd Cincinnati, OH.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Fully occupied fourplex with four 1‑bedroom units and spacious layouts; Major mechanical upgrades: new water heaters and furnaces installed in 2024; New gas line installed in 2025
