Quadplex with Four-Car
For Sale
$359,000
7119 Eastlawn Dr, Cincinnati, OH 45237
Four one-bedroom apartments include on-site laundry, recent building updates, and a vacant unit for occupancy or leasing.
Property Size2,536 SF
Days on Market14
Property Features for 7119 Eastlawn Dr
General Information
Standard status
Active
Size
2,536 SF
Total Parking Spaces
4
Property subtype
Multifamily
Occupancy
75%
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Amenities
on-site coin-operated laundry
Building Details
Building Size
2,536 SF
Year Built
1946
Buildings
1
Listing Agency:
3CRE Advisors, LLC - corporate
Listed By:
Tryfon Christoforou · License #SAL.2014001869
(513) 490-6881
Source:
3cre
Added: Aug 26
Changed: Sep 8
Last Checked: Sep 8 at 4:27AM
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 3CRE Advisors, LLC - corporate
Investment Insights
Based on property information with market context.
Built in 1946, this 9,060-square-foot quadplex contains four one-bedroom, one-bathroom apartments. Three units are rented, while the fourth is available for a new owner to occupy, lease, or renovate. The property includes a four-car garage and coin-operated laundry on site. Two apartments have been renovated, and building improvements include updated plumbing and a newer front deck.
The roof was replaced in 2025. Located at 7119 Eastlawn Drive in Cincinnati, Ohio, the property is identified with the Roselawn area and offers a four-unit configuration with a combination of occupied and available apartments.
The roof was replaced in 2025. Located at 7119 Eastlawn Drive in Cincinnati, Ohio, the property is identified with the Roselawn area and offers a four-unit configuration with a combination of occupied and available apartments.
Key Highlights
- Four 1‑bedroom, 1‑bathroom apartments in a quadplex
- Three of four units are currently rented
- 4‑car garage and on‑site coin‑operated laundry
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,248
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.92%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$424,960
$425.0K
Cap Rate 7%
$303,543
$303.5K
Cap Rate 9%
$236,089
$236.1K
Market Conditions
NOI Build-Up for 2,536 SF
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.
Gross rent
$32.3K $12.72/SF
− Vacancy
−$1.9K −$0.75/SF
EGI
$30.4K $11.97/SF
− OpEx
−$9.1K −$3.59/SF
NOI
$21.2K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$424,960
Cap Rate 7%
$303,543
Cap Rate 9%
$236,089
Alternative Uses
Best Use
Multifamily LT 5
$303.5K
$265.6K – $354.1K
NOI $21,248 @ 7.0% cap · market cap 5.92%
Second Best
Apartment 5plus
$269.2K
$235.5K – $314.0K
NOI $18,842 @ 7.0% cap · market cap 5.25%
Theoretical Best
Office A
$504.1K
$441.1K – $588.1K
NOI $35,288 @ 7.0% cap · market cap 9.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
75%
Occupancy
Location Intelligence
Trade Area within ½ mile
548
Businesses Nearby
Explore this area
Business Placement
Demographics for 45237, OH
21,029
Population
10,976
Households
1.9
Avg Household Size
41
Median Age
29%
College-Educated
88%
High-School Grad
6.1 sq mi
ZIP Area
3,447
Density / Sq Mi
$43,598
Median Household Income
$34,276
Median Earnings
$863
Median Rent
$158,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four one-bedroom apartments include on-site laundry, recent building updates, and a vacant unit for occupancy or leasing.
Where is this quadplex located?
The property is located at 7119 Eastlawn Dr Cincinnati, OH.
What is the asking price?
The asking price for this property is $359,000.
What are key features of this property?
This property features: Four 1‑bedroom, 1‑bathroom apartments in a quadplex; Three of four units are currently rented; 4‑car garage and on‑site coin‑operated laundry
