Three-Unit Multifamily
For Sale
$585,000
2733 Stratford Ave, Cincinnati, OH 45220
Triplex with separately metered residences, off-street parking, and leases extending through July 2027.
Property Size3,514 SF
Price / SF$166.48
Days on Market33
Property Features for 2733 Stratford Ave
General Information
Standard status
Active
Size
3,514 SF
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
3 x 2BR
Multifamily Units
3
Additional Details
Utilities to Site
Yes
Listing Agency:
Home Information Network, Inc.
(513) 623-3153
Listed By:
Mark McGrath
(513) 623-3153
Source:
Exprealty
Added: Jul 14
Changed: Aug 12
Last Checked: Aug 14 at 10:10AM
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 Home Information Network, Inc.
Investment Insights
Based on property information with market context.
This 3,514-square-foot triplex contains three two-bedroom residences, each with separate utilities. The property includes off-street parking and is fully leased through July 2027, providing a defined lease term across the building.
Located in Clifton, the property is within walking distance of UC, hospitals, dining, shopping, and entertainment. Its three-unit configuration and individual utility arrangements support straightforward multifamily operations while retaining the character of the existing property.
Located in Clifton, the property is within walking distance of UC, hospitals, dining, shopping, and entertainment. Its three-unit configuration and individual utility arrangements support straightforward multifamily operations while retaining the character of the existing property.
Key Highlights
- Three‑unit triplex with 3,514 SF of building area
- Each residence offers 2 bedrooms
- Separate utilities serve all three units
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
$29,443
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
5.03%
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%
$588,860
$588.9K
Cap Rate 7%
$420,614
$420.6K
Cap Rate 9%
$327,144
$327.1K
Market Conditions
NOI Build-Up for 3,514 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
$44.7K $12.72/SF
− Vacancy
−$2.6K −$0.75/SF
EGI
$42.1K $11.97/SF
− OpEx
−$12.6K −$3.59/SF
NOI
$29.4K $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 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%
$588,860
Cap Rate 7%
$420,614
Cap Rate 9%
$327,144
Alternative Uses
Best Use
Multifamily LT 5
$420.6K
$368.0K – $490.7K
NOI $29,443 @ 7.0% cap · market cap 5.03%
Second Best
Apartment 5plus
$373.0K
$326.4K – $435.2K
NOI $26,109 @ 7.0% cap · market cap 4.46%
Theoretical Best
Office A
$698.5K
$611.2K – $815.0K
NOI $48,897 @ 7.0% cap · market cap 8.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,169
Businesses Nearby
Explore this area
Business Placement
Demographics for 45220, OH
15,466
Population
7,400
Households
2.1
Avg Household Size
28
Median Age
63%
College-Educated
96%
High-School Grad
2.9 sq mi
ZIP Area
5,333
Density / Sq Mi
$51,404
Median Household Income
$26,866
Median Earnings
$954
Median Rent
$385,200
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?
Triplex - Triplex with separately metered residences, off-street parking, and leases extending through July 2027.
Where is this triplex located?
The property is located at 2733 Stratford Ave Cincinnati, OH.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: Three‑unit triplex with 3,514 SF of building area; Each residence offers 2 bedrooms; Separate utilities serve all three units
