Historic Quadplex
For Sale
$679,000
1637 Hughes Street, Cincinnati, OH 45202
Advanced plans support four townhome-style rental residences with gated off-street parking.
Property Size6,501 SF
Price / SF$104.45
Days on Market55
Property Features for 1637 Hughes Street
General Information
Standard status
Active
Size
6,501 SF
Total Parking Spaces
8
Property subtype
Multi-Family
Site & Location
Neighborhood
Otr
Building Details
Year Built
1900
Listing Agency:
Comey & Shepherd
Listed By:
Tim Roberts · License #2014003132
(513) 237-4982
Source:
Trulyremarkableservice.kw
Added: Sep 11
Changed: Oct 26
Last Checked: Nov 3 at 3:10AM
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 Comey & Shepherd
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Investment Insights
Based on property information with market context.
This 1900 historic building is being repositioned as a four-residence rental project with townhome-style layouts. The existing structure contains approximately 8,400 SF, while plans call for approximately 6,835 SF of finished living space. Substantial pre-development work has been completed, and the adjacent vacant parcel at 209 Schiller Street is included for planned gated parking.
The project is located in Cincinnati’s urban core near downtown. Planned parking provides approximately two spaces per residence. The current historic tax-credit structure requires the completed residences to remain rentals, and the project includes anticipated Federal and Ohio historic tax credits.
The project is located in Cincinnati’s urban core near downtown. Planned parking provides approximately two spaces per residence. The current historic tax-credit structure requires the completed residences to remain rentals, and the project includes anticipated Federal and Ohio historic tax credits.
Key Highlights
- 1900 historic building with approximately 8,400 SF
- Plans call for four townhome‑style rental residences
- Approximately 6,835 SF of proposed finished living space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,467
Cap Rate
8.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,089,340
$1.1M
Cap Rate 7%
$778,100
$778.1K
Cap Rate 9%
$605,189
$605.2K
Market Conditions
NOI Build-Up for 6,501 SF
Gross rent
$82.7K $12.72/SF
− Vacancy
−$4.9K −$0.75/SF
EGI
$77.8K $11.97/SF
− OpEx
−$23.3K −$3.59/SF
NOI
$54.5K $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%
$1,089,340
Cap Rate 7%
$778,100
Cap Rate 9%
$605,189
Alternative Uses
Best Use
Multifamily LT 5
$778.1K
$680.8K – $907.8K
NOI $54,467 @ 7.0% cap · market cap 8.02%
Second Best
Apartment 5plus
$690.0K
$603.7K – $805.0K
NOI $48,299 @ 7.0% cap · market cap 7.11%
Theoretical Best
Office A
$1.29M
$1.13M – $1.51M
NOI $90,456 @ 7.0% cap · market cap 13.32%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
3,977
Businesses Nearby
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Business Placement
Demographics for 45202, OH
16,883
Population
11,432
Households
1.5
Avg Household Size
34
Median Age
63%
College-Educated
91%
High-School Grad
2.7 sq mi
ZIP Area
6,253
Density / Sq Mi
$87,930
Median Household Income
$63,901
Median Earnings
$1,524
Median Rent
$444,000
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 - Advanced plans support four townhome-style rental residences with gated off-street parking.
Where is this quadplex located?
The property is located at 1637 Hughes Street Cincinnati, OH.
What is the asking price?
The asking price for this property is $679,000.
What are key features of this property?
This property features: 1900 historic building with approximately 8,400 SF; Plans call for four townhome‑style rental residences; Approximately 6,835 SF of proposed finished living space
