Updated Triplex with Off-Street
For Sale
$374,000
Pending
215 Warner St, Cincinnati, OH 45219
Three occupied units offer varied layouts, updated finishes, and parking for eight vehicles.
Property Size1,964 SF
Days on Market55
Property Features for 215 Warner St
General Information
Standard status
Pending
Size
1,964 SF
Total Parking Spaces
8
Property subtype
Residential Income
Site & Location
Neighborhood
Cuf
Units
Unit Mix
1 x 2BR loft, 1 x 1BR, 1 x 4BR/2BA
Multifamily Units
3
Listing Agency:
RE/MAX Preferred Group
(513) 229-7774
Listed By:
Bradley Babiak · License #2021002473
(513) 289-6545
Source:
Exprealty
Added: Sep 3
Changed: Oct 25
Last Checked: Oct 26 at 6:39PM
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 RE/MAX Preferred Group
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Investment Insights
Based on property information with market context.
This 1,964-square-foot triplex contains three occupied residences with a varied unit mix: a two-bedroom loft-style unit, an updated one-bedroom unit, and a larger four-bedroom, two-bath unit. Property improvements include renovated bathrooms, newer appliances, updated kitchen finishes, and durable LVP flooring across much of the building. Off-street parking accommodates eight vehicles.
The property is in Clifton near the University of Cincinnati and is leased through July 2027. Its existing configuration combines compact and larger unit layouts within a three-unit residential income property.
The property is in Clifton near the University of Cincinnati and is leased through July 2027. Its existing configuration combines compact and larger unit layouts within a three-unit residential income property.
Key Highlights
- Three‑unit triplex with leases in place through July 2027
- Unit mix includes 2‑bedroom loft, 1‑bedroom, and 4‑bedroom/2‑bath residences
- 1,964 SF property near the University of Cincinnati in Clifton
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,456
Cap Rate
4.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$329,120
$329.1K
Cap Rate 7%
$235,086
$235.1K
Cap Rate 9%
$182,844
$182.8K
Market Conditions
NOI Build-Up for 1,964 SF
Gross rent
$25.0K $12.72/SF
− Vacancy
−$1.5K −$0.75/SF
EGI
$23.5K $11.97/SF
− OpEx
−$7.1K −$3.59/SF
NOI
$16.5K $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%
$329,120
Cap Rate 7%
$235,086
Cap Rate 9%
$182,844
Alternative Uses
Best Use
Multifamily LT 5
$235.1K
$205.7K – $274.3K
NOI $16,456 @ 7.0% cap · market cap 4.40%
Second Best
Apartment 5plus
$208.5K
$182.4K – $243.2K
NOI $14,592 @ 7.0% cap · market cap 3.90%
Theoretical Best
Office A
$390.4K
$341.6K – $455.5K
NOI $27,329 @ 7.0% cap · market cap 7.31%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,565
Businesses Nearby
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Business Placement
Demographics for 45219, OH
20,644
Population
8,023
Households
2.6
Avg Household Size
25
Median Age
50%
College-Educated
89%
High-School Grad
1.6 sq mi
ZIP Area
12,903
Density / Sq Mi
$35,936
Median Household Income
$12,462
Median Earnings
$1,166
Median Rent
$222,500
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 - Three occupied units offer varied layouts, updated finishes, and parking for eight vehicles.
Where is this triplex located?
The property is located at 215 Warner St Cincinnati, OH.
What is the asking price?
The asking price for this property is $374,000.
What are key features of this property?
This property features: Three‑unit triplex with leases in place through July 2027; Unit mix includes 2‑bedroom loft, 1‑bedroom, and 4‑bedroom/2‑bath residences; 1,964 SF property near the University of Cincinnati in Clifton
