Student Housing
For Sale
Contact for pricing
2720 Eden Avenue, Cincinnati, OH 45219
Forty-five unit student housing portfolio near the University of Cincinnati, currently 94% occupied during renovation of one house.
Property Size52,060 SF
Price / SF$165.19
Days on Market123
Property Features for 2720 Eden Avenue
General Information
Standard status
Active
Size
52,060 SF
Property subtype
Multifamily
Occupancy
94%
Net Operating Income
$626,295
Building Details
Buildings
18
Listing Agency:
Franklin Street
Listed By:
Joel Dumes · License #63818
(513) 212-6335
Source:
Crexi
Added: May 6
Changed: Aug 31
Last Checked: Sep 2 at 8:47AM
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 Franklin Street
Investment Insights
Based on property information with market context.
The Bearcat Portfolio is a scattered site student housing portfolio consisting of 45 units and 119 bedrooms, currently housing 176 tenants. Historical occupancy has been close to 100%, and the portfolio is currently 94% occupied due to one house being renovated.
Properties are pedestrian to the University of Cincinnati, with most buildings concentrated along Eden Avenue and Bellevue Avenue, and one property located on W McMillan Street.
This offering is presented as 100 percent fee-simple interest in The Bearcat Portfolio, free and clear of any debt.
Properties are pedestrian to the University of Cincinnati, with most buildings concentrated along Eden Avenue and Bellevue Avenue, and one property located on W McMillan Street.
This offering is presented as 100 percent fee-simple interest in The Bearcat Portfolio, free and clear of any debt.
Key Highlights
- 45‑unit, 119‑bedroom student housing portfolio in Cincinnati near the University of Cincinnati
- Houses 176 total tenants with historically near 100% occupancy
- Currently 94% occupied due to one house being renovated
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$386,800
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.50%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$7,736,000
$7.7M
Cap Rate 7%
$5,525,714
$5.5M
Cap Rate 9%
$4,297,778
$4.3M
Market Conditions
NOI Build-Up for 52,060 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$743.4K $14.28/SF
− Vacancy
−$40.1K −$0.77/SF
EGI
$703.3K $13.51/SF
− OpEx
−$316.5K −$6.08/SF
NOI
$386.8K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$7,736,000
Cap Rate 7%
$5,525,714
Cap Rate 9%
$4,297,778
Alternative Uses
Best Use
Apartment 5plus
$5.53M
$4.84M – $6.45M
NOI $386,800 @ 7.0% cap · market cap 4.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.35M
$9.06M – $12.07M
NOI $724,415 @ 7.0% cap · market cap 8.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,695
Businesses Nearby
Explore this area
Business Placement
Demographics for 45219, OH
20,644
Population
8,023
Households
2.6
Avg Household Size
25
Median Age
50%
College-Educated
89%
High-School Grad
1.6 sq mi
ZIP Area
12,903
Density / Sq Mi
$35,936
Median Household Income
$12,462
Median Earnings
$1,166
Median Rent
$222,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Forty-five unit student housing portfolio near the University of Cincinnati, currently 94% occupied during renovation of one house.
Where is this apartment building located?
The property is located at 2720 Eden Avenue Cincinnati, OH.
What is the asking price?
The asking price for this property is $8,600,000.
What are key features of this property?
This property features: 45‑unit, 119‑bedroom student housing portfolio in Cincinnati near the University of Cincinnati; Houses 176 total tenants with historically near 100% occupancy; Currently 94% occupied due to one house being renovated
