5-Unit Apartment
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For Sale
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2962 BURLINGTON PL CINCINNATI OH 45225, Cincinnati, OH 45225
Fully occupied apartment property in Cincinnati’s Camp Washington neighborhood.
Property Size2,718 SF
Lot Size0.11 Acres
Price / SF$121.38
Days on Market4
Property Features for 2962 BURLINGTON PL CINCINNATI OH 45225
General Information
Standard status
Active
Size
2,718 SF
Class
C
Lot size
0.11 Acres
Property subtype
Multifamily
Occupancy
100%
Investment Type
Stabilized
Financials
Gross Income
$30,000
Average Monthly Rent
$500
Additional Details
Multifamily Units
5
Building Details
Year Built
1875
Buildings
1
Units
5
Tenancy
Multi
Listing Agency:
Dwyer Commercial Real Estate
Listed By:
John Dwyer · License #OH BRKP.0000209660
(513) 784-1776
Source:
Crexi
Added: Aug 31
Changed: Sep 1
Last Checked: Sep 2 at 8:16PM
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 Dwyer Commercial Real Estate
Investment Insights
Based on property information with market context.
This five-unit apartment building contains 2718 SF and was built in 1875. All five units are currently leased, providing an occupied residential configuration within an established multifamily property.
The building occupies a 0.114-acre lot at 2962 Burlington Pl in Cincinnati’s Camp Washington neighborhood. The property is registered as a rental with Hamilton County, adding an established administrative framework for its residential use.
The building occupies a 0.114-acre lot at 2962 Burlington Pl in Cincinnati’s Camp Washington neighborhood. The property is registered as a rental with Hamilton County, adding an established administrative framework for its residential use.
Key Highlights
- Five‑unit apartment building with all units currently leased
- 2718 SF building constructed in 1875
- Situated on a 0.114‑acre lot
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
$20,194
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
6.12%
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%
$403,880
$403.9K
Cap Rate 7%
$288,486
$288.5K
Cap Rate 9%
$224,378
$224.4K
Market Conditions
NOI Build-Up for 2,718 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
$38.8K $14.28/SF
− Vacancy
−$2.1K −$0.77/SF
EGI
$36.7K $13.51/SF
− OpEx
−$16.5K −$6.08/SF
NOI
$20.2K $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 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%
$403,880
Cap Rate 7%
$288,486
Cap Rate 9%
$224,378
Alternative Uses
Best Use
Apartment 5plus
$288.5K
$252.4K – $336.6K
NOI $20,194 @ 7.0% cap · market cap 6.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$540.3K
$472.8K – $630.4K
NOI $37,821 @ 7.0% cap · market cap 11.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
909
Businesses Nearby
Explore this area
Business Placement
Demographics for 45225, OH
8,006
Population
4,694
Households
1.7
Avg Household Size
28
Median Age
9%
College-Educated
79%
High-School Grad
2.9 sq mi
ZIP Area
2,761
Density / Sq Mi
$22,320
Median Household Income
$20,948
Median Earnings
$639
Median Rent
$108,400
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 - Fully occupied apartment property in Cincinnati’s Camp Washington neighborhood.
Where is this apartment building located?
The property is located at 2962 BURLINGTON PL CINCINNATI OH 45225 Cincinnati, OH.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: Five‑unit apartment building with all units currently leased; 2718 SF building constructed in 1875; Situated on a 0.114‑acre lot
