14-Unit Renovated Apartment
2346 Boone St, Cincinnati, OH 45206
For Sale
New
$2,200,000
Separate electric and gas meters serve each residence, alongside updated HVAC, security, and entry-control systems.
Property Size10,248 SF
Days on Market2
Property Features for 2346 Boone St
General Information
Standard status
Size
Property subtype
Occupancy
Net Operating Income
Financials
Asking Price
Cap Rate
Site & Location
Neighborhood
Units
Multifamily Units
Individually Metered Utilities
Additional Details
Tenant in Place
Building Details
Building Size
Year Built
Year Renovated
Buildings
Listed By:
Gueorgui Chikov · License #OH #SAL.2017002265
(513) 331-0920
Source:
Corfac
Added: Nov 6
Last Checked: Nov 6 at 2:24PM
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 Gueorgui Chikov
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Investment Insights
Based on property information with market context.
This 14-unit apartment property dates to 1929 and received a comprehensive interior renovation in 2022–2023. Improvements include HVAC, security, and building access-control systems. Electric and gas service are separately metered for each unit, and the property was fully occupied at the time described. An adjacent parking lot is included in the offering.
The building is in Cincinnati’s Walnut Hills submarket, with proximity to the University of Cincinnati, downtown Cincinnati, and Xavier University. A CRA tax abatement runs through 2030.
The building is in Cincinnati’s Walnut Hills submarket, with proximity to the University of Cincinnati, downtown Cincinnati, and Xavier University. A CRA tax abatement runs through 2030.
Key Highlights
- 14 apartment units; fully occupied at the time described
- Comprehensive renovation completed in 2022–2023
- Individual electric and gas meters for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$76,141
Cap Rate
3.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,522,820
$1.5M
Cap Rate 7%
$1,087,729
$1.1M
Cap Rate 9%
$846,011
$846.0K
Market Conditions
NOI Build-Up for 10,248 SF
Gross rent
$146.3K $14.28/SF
− Vacancy
−$7.9K −$0.77/SF
EGI
$138.4K $13.51/SF
− OpEx
−$62.3K −$6.08/SF
NOI
$76.1K $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%
$1,522,820
Cap Rate 7%
$1,087,729
Cap Rate 9%
$846,011
Alternative Uses
Best Use
Apartment 5plus
$1.09M
$951.8K – $1.27M
NOI $76,141 @ 7.0% cap · market cap 3.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.04M
$1.78M – $2.38M
NOI $142,601 @ 7.0% cap · market cap 6.48%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
14
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,611
Businesses Nearby
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Business Placement
Demographics for 45206, OH
10,670
Population
7,191
Households
1.5
Avg Household Size
37
Median Age
49%
College-Educated
87%
High-School Grad
2.0 sq mi
ZIP Area
5,335
Density / Sq Mi
$51,128
Median Household Income
$44,936
Median Earnings
$849
Median Rent
$269,900
Median Home Value
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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 - Separate electric and gas meters serve each residence, alongside updated HVAC, security, and entry-control systems.
Where is this apartment building located?
The property is located at 2346 Boone St Cincinnati, OH.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 14 apartment units; fully occupied at the time described; Comprehensive renovation completed in 2022–2023; Individual electric and gas meters for each unit
