Renovated Triplex Apartment
For Sale
$445,000
2600 Melrose Avenue, Cincinnati, OH 45206
Three-unit property renovated in 2022 with restaurants, retail, and transit nearby.
Property Size5,270 SF
Days on Market103
Property Features for 2600 Melrose Avenue
General Information
Standard status
Active
Size
5,270 SF
Property subtype
Multifamily
Net Operating Income
$35,556
Additional Details
Public Transit
Yes
Multifamily Units
3
Building Details
Building Size
5,270 SF
Year Built
1914
Year Renovated
2022
Buildings
1
Listing Agency:
J. A. Trautmann Realtors
Listed By:
Ben Trautmann
(513) 315-8629
Source:
Jatrealtors
Added: Jun 25
Changed: Sep 12
Last Checked: Oct 5 at 4:24PM
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 J. A. Trautmann Realtors
Investment Insights
Based on property information with market context.
This three-unit apartment property was built in 1914 and renovated in 2022. The low-rise building occupies the corner of Melrose Avenue and William Howard Taft, with three residential units within the structure.
Residents have walking access to restaurants, bars, retail, banks, and a library. The property is positioned on a city bus stop, approximately one mile from the University of Cincinnati and two miles from Xaivier University. Its East Walnut Hills setting places the building near established neighborhood services and institutional destinations.
Residents have walking access to restaurants, bars, retail, banks, and a library. The property is positioned on a city bus stop, approximately one mile from the University of Cincinnati and two miles from Xaivier University. Its East Walnut Hills setting places the building near established neighborhood services and institutional destinations.
Key Highlights
- Three‑unit apartment building
- Renovated in 2022
- Built in 1914
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,155
Cap Rate
8.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$783,100
$783.1K
Cap Rate 7%
$559,357
$559.4K
Cap Rate 9%
$435,056
$435.1K
Market Conditions
NOI Build-Up for 5,270 SF
Gross rent
$75.3K $14.28/SF
− Vacancy
−$4.1K −$0.77/SF
EGI
$71.2K $13.51/SF
− OpEx
−$32.0K −$6.08/SF
NOI
$39.2K $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%
$783,100
Cap Rate 7%
$559,357
Cap Rate 9%
$435,056
Alternative Uses
Best Use
Multifamily LT 5
$630.8K
$552.0K – $735.9K
NOI $44,156 @ 7.0% cap · market cap 9.92%
Second Best
Apartment 5plus
$559.4K
$489.4K – $652.6K
NOI $39,155 @ 7.0% cap · market cap 8.80%
Theoretical Best
Office A
$1.05M
$916.7K – $1.22M
NOI $73,332 @ 7.0% cap · market cap 16.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,886
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
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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?
Triplex - Three-unit property renovated in 2022 with restaurants, retail, and transit nearby.
Where is this triplex located?
The property is located at 2600 Melrose Avenue Cincinnati, OH.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: Three‑unit apartment building; Renovated in 2022; Built in 1914
