Three-Unit
For Sale
$395,000
2131 Colerain Avenue, Cincinnati, OH 45214
Multifamily property with one three-bedroom residence and two one-bedroom residences.
Property Size3,664 SF
Price / SF$107.81
Days on Market68
Property Features for 2131 Colerain Avenue
General Information
Standard status
Active
Size
3,664 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR, 2 x 1BR (one 1.5BA)
Multifamily Units
3
Building Details
Year Built
1890
Listing Agency:
Coldwell Banker Realty (513-321-9944)
Listed By:
Tami Holmes · License #2005015284
(937) 506-8360
Source:
Tami-holmes
Added: Aug 11
Changed: Oct 16
Last Checked: Oct 16 at 8:26AM
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 Coldwell Banker Realty (513-321-9944)
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Investment Insights
Based on property information with market context.
Built in 1890, this Cincinnati triplex contains 3,664 square feet across three residential units. The unit mix includes one three-bedroom apartment and two one-bedroom apartments, with one of the one-bedroom units offering 1.5 bathrooms.
The property is located at 2131 Colerain Avenue in Cincinnati’s West End, near Downtown Cincinnati. Its three-unit configuration provides a defined multifamily layout with varied residential floor plans.
The property is located at 2131 Colerain Avenue in Cincinnati’s West End, near Downtown Cincinnati. Its three-unit configuration provides a defined multifamily layout with varied residential floor plans.
Key Highlights
- Three‑unit multifamily property
- 3,664 square feet
- Unit mix includes one 3BR unit and two 1BR units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,699
Cap Rate
7.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$613,980
$614.0K
Cap Rate 7%
$438,557
$438.6K
Cap Rate 9%
$341,100
$341.1K
Market Conditions
NOI Build-Up for 3,664 SF
Gross rent
$46.6K $12.72/SF
− Vacancy
−$2.7K −$0.75/SF
EGI
$43.9K $11.97/SF
− OpEx
−$13.2K −$3.59/SF
NOI
$30.7K $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%
$613,980
Cap Rate 7%
$438,557
Cap Rate 9%
$341,100
Alternative Uses
Best Use
Multifamily LT 5
$438.6K
$383.7K – $511.7K
NOI $30,699 @ 7.0% cap · market cap 7.77%
Second Best
Apartment 5plus
$388.9K
$340.3K – $453.7K
NOI $27,223 @ 7.0% cap · market cap 6.89%
Theoretical Best
Office A
$728.4K
$637.3K – $849.8K
NOI $50,985 @ 7.0% cap · market cap 12.91%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
862
Businesses Nearby
Explore this area
Business Placement
Demographics for 45214, OH
8,901
Population
5,028
Households
1.8
Avg Household Size
32
Median Age
23%
College-Educated
88%
High-School Grad
2.7 sq mi
ZIP Area
3,297
Density / Sq Mi
$26,348
Median Household Income
$27,243
Median Earnings
$762
Median Rent
$102,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Triplex - Multifamily property with one three-bedroom residence and two one-bedroom residences.
Where is this triplex located?
The property is located at 2131 Colerain Avenue Cincinnati, OH.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Three‑unit multifamily property; 3,664 square feet; Unit mix includes one 3BR unit and two 1BR units
