Building Details

Year Built 1925

Buildings 1

Construction brick

Listing Agency: Keller Williams Advisors

Listed By: Kristen D Carter · License #2017004048 Show Phone

Source: Cincylivingwithangela

Added: Aug 4 Changed: Oct 7 Last Checked: Oct 16 at 11:10AM

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Investment Insights

Based on property information with market context.

This 3,830-square-foot triplex, built in 1925, is arranged as a three-family residential property within a classic brick building. Each apartment offers spacious living areas, updated finishes, abundant natural light, and well-maintained interiors. River views and off-street parking add to the property’s physical features.

Located at 2515-2517 Hackberry Street in Cincinnati, the property is near downtown, hospitals, universities, neighborhood restaurants, and entertainment. The existing three-apartment configuration provides a clearly defined multifamily layout for residential income use or owner occupancy.

Key Highlights

• 3,830‑square‑foot triplex with three apartments
• Classic brick construction dating to 1925
• Updated finishes and well‑maintained apartment interiors

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$32,090

Cap Rate

5.58%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$641,800 $641.8K

Cap Rate 7%

$458,429 $458.4K

Cap Rate 9%

$356,556 $356.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,830 SF

Gross rent

$48.7K $12.72/SF

− Vacancy

−$2.9K −$0.75/SF

EGI

$45.8K $11.97/SF

− OpEx

−$13.8K −$3.59/SF

NOI

$32.1K $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%

$641,800

Cap Rate 7%

$458,429

Cap Rate 9%

$356,556

Alternative Uses

Best Use

Multifamily LT 5

$458.4K

$401.1K – $534.8K (±1% cap)

NOI $32,090 @ 7.0% cap · market cap 5.58%

Second Best

Apartment 5plus

$406.5K

$355.7K – $474.3K (±1% cap)

NOI $28,456 @ 7.0% cap · market cap 4.95%

Theoretical Best

Office A

$761.3K

$666.2K – $888.2K (±1% cap)

NOI $53,294 @ 7.0% cap · market cap 9.27%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Triplexes

Suggested Use

Top Pick Dental Office (Bike/Boat/Book/etc) Store HVAC Service Locksmith Electrical Service Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Residential units

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

874

Businesses Nearby

Explore this area 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

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Triplex - Three apartments feature refreshed interiors, natural light, river views, and off-street parking.

Where is this triplex located?

The property is located at 2515 2517 Hackberry St Cincinnati, OH.

What is the asking price?

The asking price for this property is $575,000.

What are key features of this property?

This property features: 3,830‑square‑foot triplex with three apartments; Classic brick construction dating to 1925; Updated finishes and well‑maintained apartment interiors