5-Family Brick Apartment
2309 W Clifton Ave, Cincinnati, OH 45219
For Sale
$495,900
Historic character, refreshed units, and tenant-paid utilities support a practical rental configuration.
Property Size2,551 SF
Price / SF$194.39
Days on Market103
Property Features for 2309 W Clifton Ave
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Public Transit
Utilities to Site
Additional Details
Multifamily Units
Building Details
Year Built
Construction
Listing Agency:
Sibcy Cline, Inc.
Listed By:
Brendan S Morrissey
(513) 365-8383
Source:
Lovdalgroup
Added: Jul 30
Changed: Oct 26
Last Checked: Oct 7 at 2:46PM
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 Sibcy Cline, Inc.
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Investment Insights
Based on property information with market context.
This 5-family apartment building at 2309 W Clifton Ave in Cincinnati is a historic 19th-century brick multifamily property. The building features a new roof, newer windows, and fresh Bearcat black-and-red exterior paint. Three units have been refreshed while retaining historic character alongside updated finishes.
The property is located blocks from UC and sits on major bus and shuttle routes serving the surrounding area. Each unit has a separate utility meter, with utilities paid entirely by the tenants. The combination of a five-unit configuration, refreshed interiors, and separately metered utilities provides a straightforward multifamily layout in the Clifton area.
The property is located blocks from UC and sits on major bus and shuttle routes serving the surrounding area. Each unit has a separate utility meter, with utilities paid entirely by the tenants. The combination of a five-unit configuration, refreshed interiors, and separately metered utilities provides a straightforward multifamily layout in the Clifton area.
Key Highlights
- 5‑family historic 19th‑century brick multifamily property
- Three units refreshed with historic character and modern appeal
- New roof and newer windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,954
Cap Rate
3.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$379,080
$379.1K
Cap Rate 7%
$270,771
$270.8K
Cap Rate 9%
$210,600
$210.6K
Market Conditions
NOI Build-Up for 2,551 SF
Gross rent
$36.4K $14.28/SF
− Vacancy
−$2.0K −$0.77/SF
EGI
$34.5K $13.51/SF
− OpEx
−$15.5K −$6.08/SF
NOI
$19.0K $7.43/SF
Area
Cincinnati, OH
Vacancy
5.40%
Lease Rate
$14.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$379,080
Cap Rate 7%
$270,771
Cap Rate 9%
$210,600
Alternative Uses
Best Use
Apartment 5plus
$270.8K
$236.9K – $315.9K
NOI $18,954 @ 7.0% cap · market cap 3.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$507.1K
$443.7K – $591.6K
NOI $35,497 @ 7.0% cap · market cap 7.16%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
5
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,565
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Apartment buildings in Cincinnati
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Historic character, refreshed units, and tenant-paid utilities support a practical rental configuration.
Where is this apartment building located?
The property is located at 2309 W Clifton Ave Cincinnati, OH.
What is the asking price?
The asking price for this property is $495,900.
What are key features of this property?
This property features: 5‑family historic 19th‑century brick multifamily property; Three units refreshed with historic character and modern appeal; New roof and newer windows
