Four-Unit Apartment
1606-1608 W High Street, Springfield, OH 45506
For Sale
$199,000
Multi-Family, Springfield, OH
Property Size2,816 SF
Lot Size0.22 Acres
Price / SF$70.67
Days on Market188
Property Features for 1606-1608 W High Street
General Information
Property type
Property subtype
Zoning description
Bedrooms
Bathrooms
Full bathrooms
Rooms
Patio and Porch features
Basement
Appliances
Lot features
Elementary school district
Middle school district
High school district
Directions
Subdivision
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Year
Utilities
Sewer type
Heating system
Amenities
private front porch
private deck
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Architectural style
Buildings
Listing Agency:
Roost Real Estate Co.
Listed By:
Tina Bleything · License #2016002796
(937) 390-3715
Added: May 4
Changed: Oct 25
Last Checked: Nov 7 at 11:06PM
MLS# 1045449
Copyright © 2026 Western Regional Information System & Technology, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This four-unit apartment property includes 1-bedroom, 1-bath residences within a building constructed in 1900. Two upper-level units are vacant, while the occupied units are under yearly leases extending through 2/2027 and 3/2027. Interior finishes include hardwood flooring in the bedrooms and living areas, wood plank flooring in the kitchens, vinyl bathroom flooring, and large windows that bring natural light into each residence.
The lower units have private front porches, and the upper units include rear decks. Each apartment is accompanied by a one-car detached garage. The property sits on 0.22 acres at 1606-1608 W High Street in Springfield, Ohio, with vinyl siding, natural-gas forced-air heating, a gas water heater, and public sewer service.
The lower units have private front porches, and the upper units include rear decks. Each apartment is accompanied by a one-car detached garage. The property sits on 0.22 acres at 1606-1608 W High Street in Springfield, Ohio, with vinyl siding, natural-gas forced-air heating, a gas water heater, and public sewer service.
Key Highlights
- Four 1‑bedroom, 1‑bath apartment units
- Two upper units currently vacant
- Yearly leases extend through 2/2027 and 3/2027
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,558
Cap Rate
4.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$191,160
$191.2K
Cap Rate 7%
$136,543
$136.5K
Cap Rate 9%
$106,200
$106.2K
Market Conditions
NOI Build-Up for 2,816 SF
Gross rent
$14.9K $5.28/SF
− Vacancy
−$1.2K −$0.43/SF
EGI
$13.7K $4.85/SF
− OpEx
−$4.1K −$1.45/SF
NOI
$9.6K $3.39/SF
Area
Clark County, OH
Vacancy
8.17%
Lease Rate
$5.28 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$191,160
Cap Rate 7%
$136,543
Cap Rate 9%
$106,200
Alternative Uses
Best Use
Multifamily LT 5
$136.5K
$119.5K – $159.3K
NOI $9,558 @ 7.0% cap · market cap 4.80%
Second Best
Apartment 5plus
$118.3K
$103.5K – $138.0K
NOI $8,281 @ 7.0% cap · market cap 4.16%
Theoretical Best
Specialty Retail
$785.5K
$687.3K – $916.4K
NOI $54,983 @ 7.0% cap · market cap 27.63%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
252
Businesses Nearby
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Business Placement
Demographics for 45506, OH
13,330
Population
6,613
Households
2
Avg Household Size
39
Median Age
13%
College-Educated
87%
High-School Grad
12.2 sq mi
ZIP Area
1,093
Density / Sq Mi
$40,132
Median Household Income
$34,774
Median Earnings
$800
Median Rent
$101,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Quadplex with four one-bedroom residences, private outdoor areas, and a detached garage assigned to each unit.
Where is this quadplex located?
The property is located at 1606-1608 W High Street Springfield, OH.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Four 1‑bedroom, 1‑bath apartment units; Two upper units currently vacant; Yearly leases extend through 2/2027 and 3/2027
