Quadplex With
New
For Sale
$795,000
2850 Observatory Ave, Cincinnati, OH 45208
Renovated interiors combine historic character with updated HVAC and garage parking.
Property Size3,689 SF
Days on Market4
Property Features for 2850 Observatory Ave
General Information
Standard status
Active
Size
3,689 SF
Total Parking Spaces
2
Property subtype
Multifamily
Net Operating Income
$40,015
Additional Details
Multifamily Units
4
Building Details
Building Size
3,689 SF
Year Built
1920
Buildings
1
Listing Agency:
SVN Wilson Commercial
Listed By:
Chuck Ciolino, CCIM
(513) 720-1000
Source:
Svnwilson
Added: Oct 14
Changed: Oct 16
Last Checked: Oct 16 at 8:12AM
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 SVN Wilson Commercial
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Investment Insights
Based on property information with market context.
Built in 1920, this four-family property combines historic architectural details with renovated interiors. Kitchens and bathrooms have been updated, and travertine fireplaces add character to the living areas. The building also has updated HVAC systems and a 40-year roof, along with a two-car garage.
The property is on Observatory Avenue in Cincinnati, within walking distance of Hyde Park Square and near Carl’s Deli.
The property is on Observatory Avenue in Cincinnati, within walking distance of Hyde Park Square and near Carl’s Deli.
Key Highlights
- Four‑family property built in 1920
- Renovated kitchens and bathrooms, with Carrera marble finishes
- Travertine fireplaces in the living areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,909
Cap Rate
3.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$618,180
$618.2K
Cap Rate 7%
$441,557
$441.6K
Cap Rate 9%
$343,433
$343.4K
Market Conditions
NOI Build-Up for 3,689 SF
Gross rent
$46.9K $12.72/SF
− Vacancy
−$2.8K −$0.75/SF
EGI
$44.2K $11.97/SF
− OpEx
−$13.2K −$3.59/SF
NOI
$30.9K $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%
$618,180
Cap Rate 7%
$441,557
Cap Rate 9%
$343,433
Alternative Uses
Best Use
Multifamily LT 5
$441.6K
$386.4K – $515.2K
NOI $30,909 @ 7.0% cap · market cap 3.89%
Second Best
Apartment 5plus
$391.6K
$342.6K – $456.8K
NOI $27,409 @ 7.0% cap · market cap 3.45%
Theoretical Best
Office A
$733.3K
$641.7K – $855.5K
NOI $51,332 @ 7.0% cap · market cap 6.46%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,360
Businesses Nearby
Explore this area
Business Placement
Demographics for 45208, OH
18,969
Population
8,928
Households
2.1
Avg Household Size
37
Median Age
83%
College-Educated
99%
High-School Grad
4.3 sq mi
ZIP Area
4,411
Density / Sq Mi
$133,213
Median Household Income
$76,143
Median Earnings
$1,315
Median Rent
$491,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Renovated interiors combine historic character with updated HVAC and garage parking.
Where is this quadplex located?
The property is located at 2850 Observatory Ave Cincinnati, OH.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Four‑family property built in 1920; Renovated kitchens and bathrooms, with Carrera marble finishes; Travertine fireplaces in the living areas
