Two-Story Triplex Under
For Sale
Contact for pricing
Pending
2450 River Road, Cincinnati, OH 45204
Historic multifamily property with a covered porch and interior framing underway.
Property Size2,740 SF
Days on Market51
Property Features for 2450 River Road
General Information
Standard status
Pending
Size
2,740 SF
Property subtype
Multi-Family
Property Condition
Severity
Major Repairs Needed
Evidence
full renovation
Site & Location
Neighborhood
Lower Price Hill
Additional Details
Multifamily Units
3
Building Details
Building Size
2,740 SF
Year Built
1890
Stories
2
Listing Agency:
Prodigy Properties
Listed By:
Kurt Polter · License #2004005101
(513) 841-7001
Source:
Trulyremarkableservice.kw
Added: Sep 8
Changed: Oct 26
Last Checked: Oct 26 at 12:48PM
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 Prodigy Properties
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Investment Insights
Based on property information with market context.
Built in 1890, this two-story triplex is being fully renovated and is offered in its current as-is condition. Interior work has opened the structure to the studs, with portions of the new framing already installed. A full-length covered front porch and established tree canopy add exterior character.
The property is located at 2450 River Road in Cincinnati, Ohio. The sale is conducted exclusively through an online auction, scheduled to conclude September 29, 2026. Its unfinished renovation allows the next owner to determine the remaining improvements and final specifications.
The property is located at 2450 River Road in Cincinnati, Ohio. The sale is conducted exclusively through an online auction, scheduled to conclude September 29, 2026. Its unfinished renovation allows the next owner to determine the remaining improvements and final specifications.
Key Highlights
- Two‑story triplex built in 1890
- Full renovation underway; interior exposed to the studs
- New framing is already in place in portions of the interior
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,358
Suggested Prices Based on Cap Rates
Cap Rate 5%
$407,160
$407.2K
Cap Rate 7%
$290,829
$290.8K
Cap Rate 9%
$226,200
$226.2K
Market Conditions
NOI Build-Up for 2,740 SF
Gross rent
$39.1K $14.28/SF
− Vacancy
−$2.1K −$0.77/SF
EGI
$37.0K $13.51/SF
− OpEx
−$16.7K −$6.08/SF
NOI
$20.4K $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%
$407,160
Cap Rate 7%
$290,829
Cap Rate 9%
$226,200
Alternative Uses
Best Use
Multifamily LT 5
$328.0K
$287.0K – $382.6K
NOI $22,958 @ 7.0% cap · market cap 91.83%
Second Best
Apartment 5plus
$290.8K
$254.5K – $339.3K
NOI $20,358 @ 7.0% cap · market cap 81.43%
Theoretical Best
Office A
$544.7K
$476.6K – $635.5K
NOI $38,127 @ 7.0% cap · market cap 152.51%
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
487
Businesses Nearby
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Business Placement
Demographics for 45204, OH
5,818
Population
3,709
Households
1.6
Avg Household Size
33
Median Age
21%
College-Educated
79%
High-School Grad
3.1 sq mi
ZIP Area
1,877
Density / Sq Mi
$30,579
Median Household Income
$26,178
Median Earnings
$771
Median Rent
$93,100
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 - Historic multifamily property with a covered porch and interior framing underway.
Where is this triplex located?
The property is located at 2450 River Road Cincinnati, OH.
What are key features of this property?
This property features: Two‑story triplex built in 1890; Full renovation underway; interior exposed to the studs; New framing is already in place in portions of the interior
