Renovated Four-Unit Apartment
For Sale
$395,000
2390 W North Bend Rd, Cincinnati, OH 45224
Four apartments feature individual HVAC systems and updated kitchens and bathrooms; all units are leased.
Property Size3,606 SF
Price / SF$109.54
Days on Market14
Property Features for 2390 W North Bend Rd
General Information
Standard status
Active
Size
3,606 SF
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
2 x 2BR, 2 x 1BR
Multifamily Units
4
Additional Details
Gross Income
$51,360
Amenities
individual HVAC
Building Details
Construction
brick
Listing Agency:
Keller Williams Advisors
(513) 766-9200
Listed By:
Jerry T. Garrison · License #433588
3252245
Source:
Exprealty
Added: Oct 1
Changed: Oct 7
Last Checked: Oct 12 at 11:43PM
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 Advisors
Investment Insights
Based on property information with market context.
This renovated brick apartment building contains four units: two two-bedroom apartments and two one-bedroom apartments. Each unit has its own HVAC system, and the kitchens and bathrooms have been updated. The building totals 3,606 square feet and is fully leased.
Located at 2390 W North Bend Rd in Cincinnati, the property offers a four-unit residential configuration with a mix of one- and two-bedroom apartments.
Located at 2390 W North Bend Rd in Cincinnati, the property offers a four-unit residential configuration with a mix of one- and two-bedroom apartments.
Key Highlights
- Four apartments totaling 3,606 square feet
- Unit mix: two 2‑bedroom apartments and two 1‑bedroom apartments
- Individual HVAC systems for each apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,213
Cap Rate
7.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$604,260
$604.3K
Cap Rate 7%
$431,614
$431.6K
Cap Rate 9%
$335,700
$335.7K
Market Conditions
NOI Build-Up for 3,606 SF
Gross rent
$45.9K $12.72/SF
− Vacancy
−$2.7K −$0.75/SF
EGI
$43.2K $11.97/SF
− OpEx
−$12.9K −$3.59/SF
NOI
$30.2K $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%
$604,260
Cap Rate 7%
$431,614
Cap Rate 9%
$335,700
Alternative Uses
Best Use
Multifamily LT 5
$431.6K
$377.7K – $503.6K
NOI $30,213 @ 7.0% cap · market cap 7.65%
Second Best
Apartment 5plus
$382.7K
$334.9K – $446.5K
NOI $26,792 @ 7.0% cap · market cap 6.78%
Theoretical Best
Office A
$716.8K
$627.2K – $836.3K
NOI $50,178 @ 7.0% cap · market cap 12.70%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
325
Businesses Nearby
Explore this area
Business Placement
Demographics for 45224, OH
20,214
Population
9,886
Households
2
Avg Household Size
45
Median Age
34%
College-Educated
92%
High-School Grad
6.1 sq mi
ZIP Area
3,314
Density / Sq Mi
$57,754
Median Household Income
$39,579
Median Earnings
$895
Median Rent
$174,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four apartments feature individual HVAC systems and updated kitchens and bathrooms; all units are leased.
Where is this quadplex located?
The property is located at 2390 W North Bend Rd 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: Four apartments totaling 3,606 square feet; Unit mix: two 2‑bedroom apartments and two 1‑bedroom apartments; Individual HVAC systems for each apartment
