Renovated Multifamily
For Sale
$625,000
1669 Blue Rock St, Cincinnati, OH 45223
Three leased residences plus an available office-efficiency support a flexible small-scale rental configuration.
Property Size3,059 SF
Price / SF$204.32
Days on Market47
Property Features for 1669 Blue Rock St
General Information
Standard status
Active
Size
3,059 SF
Property subtype
Multi-Family
Units
Unit Mix
3 x 2BR, 1 x Office/Efficiency
Multifamily Units
4
Additional Details
Cap Rate
8%
Building Details
Year Built
1895
Listing Agency:
Keller Williams Advisors
Listed By:
Jerry T. Garrison, Lace Walther · License #433588
(513) 325-2245
Source:
Missyfriede
Added: Aug 21
Changed: Sep 11
Last Checked: Oct 5 at 8:11PM
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 Advisors
Investment Insights
Based on property information with market context.
This 3,059-square-foot multifamily property contains three leased two-bedroom residences along with an office-efficiency space currently available. The building dates to 1895 and has undergone extensive renovation, including new roofing, electrical, plumbing, windows, HVAC systems, kitchens, appliances, and bathrooms. Exterior brick tuckpointing and painting were also completed, with required permits obtained for the work.
Residents pay their own utilities, including heat and air conditioning, while the property’s reported operating profile includes an 8% CAP rate. The property is located at 1669 Blue Rock St in Cincinnati, Ohio, near Urban Artifacts Brewery. Its compact unit count and updated building systems provide a straightforward configuration for continued multifamily operation.
Residents pay their own utilities, including heat and air conditioning, while the property’s reported operating profile includes an 8% CAP rate. The property is located at 1669 Blue Rock St in Cincinnati, Ohio, near Urban Artifacts Brewery. Its compact unit count and updated building systems provide a straightforward configuration for continued multifamily operation.
Key Highlights
- 3,059 SF multifamily property
- Three 2 bedroom leased units
- Office/Efficiency available
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,630
Cap Rate
4.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$512,600
$512.6K
Cap Rate 7%
$366,143
$366.1K
Cap Rate 9%
$284,778
$284.8K
Market Conditions
NOI Build-Up for 3,059 SF
Gross rent
$38.9K $12.72/SF
− Vacancy
−$2.3K −$0.75/SF
EGI
$36.6K $11.97/SF
− OpEx
−$11.0K −$3.59/SF
NOI
$25.6K $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%
$512,600
Cap Rate 7%
$366,143
Cap Rate 9%
$284,778
Alternative Uses
Best Use
Multifamily LT 5
$366.1K
$320.4K – $427.2K
NOI $25,630 @ 7.0% cap · market cap 4.10%
Second Best
Apartment 5plus
$324.7K
$284.1K – $378.8K
NOI $22,728 @ 7.0% cap · market cap 3.64%
Theoretical Best
Office A
$608.1K
$532.1K – $709.4K
NOI $42,566 @ 7.0% cap · market cap 6.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
884
Businesses Nearby
Explore this area
Business Placement
Demographics for 45223, OH
13,174
Population
6,765
Households
1.9
Avg Household Size
33
Median Age
43%
College-Educated
91%
High-School Grad
4.6 sq mi
ZIP Area
2,864
Density / Sq Mi
$46,930
Median Household Income
$41,482
Median Earnings
$914
Median Rent
$203,800
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?
Multifamily property - Three leased residences plus an available office-efficiency support a flexible small-scale rental configuration.
Where is this multifamily property located?
The property is located at 1669 Blue Rock St Cincinnati, OH.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 3,059 SF multifamily property; Three 2 bedroom leased units; Office/Efficiency available
