Norwood Multifamily Investment
2326 Norwood Avenue, Cincinnati, OH 45212
12-unit multifamily property in Norwood with value-add potential.
Type:Retail, Multifamily
Property size:
11,322 SFPrice / SF:
$101/SF- Added:
- May 21, 2026
- Days on Market:
- 13
- Last Refresh:
- May 27 at 8:13 am
Property Features for 2326 Norwood Avenue
General Information
- Standard status
- Active
- Size
- 11,322 SF
- Property subtype
- Retail, Multifamily
Building Details
- Year Built
- 1915
Listing agent Tony Jenkins License #2001015864
Listing office Keller Williams Seven Hills
Listing date May 21, 2026
Source Crexi
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 Keller Williams Seven Hills
HighLights
- Income‑generating 12‑unit apartment building.
- Opportunity to increase equity by converting 1‑bedroom units into 2‑bedroom units.
- Recent renovations in 2021 including cabinets, granite countertops, flooring, vanities, and toilets.
- Significant capital improvements: rubber roof (2021) and boiler (2016).
- All new gas stoves within the last 4 years.
- Convenient coin laundry on‑site.
Overview
This 12-unit multifamily property is located in Norwood, just off the lateral. The unit mix comprises eleven 1-bedroom units and one 2-bedroom unit. There is a potential equity increase opportunity by converting 1-bedroom units into 2-bedroom units. Several improvements have been made to the property, including a rubber roof installed in 2021 and a boiler replacement in 2016. Coin laundry is available. All new gas stoves have been installed within the last 4 years. Windows and exterior paint were updated in 2020. The units were remodeled in 2021, including new cabinets, granite countertops, flooring, vanities, and toilets. The landlord is responsible for water and heat expenses. The property size is 11,322 square feet.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $161.7k | $14.28 |
| − Vacancy | −$8.7k | −$0.77 |
| EGI | $152.9k | $13.51 |
| − OpEx | −$68.8k | −$6.08 |
| NOI | $84.1k | $7.43 |
11,322 SF · lease $14.28/SF/yr · vacancy 5.40% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.20M
$1.05M – $1.40M
NOI $84,121 @ 7.0% cap · market cap 7.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.25M
$1.97M – $2.63M
NOI $157,546 @ 7.0% cap · market cap 13.76%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Cincinnati
- County
- Clermont
- State
- Ohio
- Longitude
- -84.4484632
- Latitude
- 39.1644371
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 12-unit multifamily property in Norwood with value-add potential.
Where is this apartment building located?
The property is located at 2326 Norwood Avenue Cincinnati, OH.
What is the asking price?
The asking price for this property is $1,145,000.
What are key features of this property?
This property features: Income‑generating 12‑unit apartment building.; Opportunity to increase equity by converting 1‑bedroom units into 2‑bedroom units.; Recent renovations in 2021 including cabinets, granite countertops, flooring, vanities, and toilets.
