Renovated Four-Unit Apartment
For Sale
$420,000
3025 Gilbert Avenue, Cincinnati, OH 45206
Three apartments have updated interiors, while shared areas include refreshed flooring and the basement offers coin laundry.
Property Size3,384 SF
Price / SF$124.11
Days on Market59
Property Features for 3025 Gilbert Avenue
General Information
Standard status
Active
Size
3,384 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
4
Amenities
coin operated laundry
Building Details
Year Built
1916
Listing Agency:
Sibcy Cline, Inc. (513-777-8100)
Listed By:
Tami Holmes · License #2005015284
(937) 506-8360
Source:
Tami-holmes
Added: Aug 9
Changed: Oct 6
Last Checked: Oct 5 at 6:17PM
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 Sibcy Cline, Inc. (513-777-8100)
Investment Insights
Based on property information with market context.
This four-unit apartment property has all units rented and includes access from both the front and rear of the building. Three apartments have received renovations encompassing flooring, paint, bathrooms, and kitchens. Unit 3 also has new windows, and the common areas feature new flooring. A basement with coin-operated laundry provides an on-site resident amenity.
The property sits between Xavier University and the University of Cincinnati, with shopping, hospitals, and highways nearby. Downtown Cincinnati is also readily accessible. The seller has pursued city approval for a curb cut that would support development of a four-car parking pad at the rear of the property; approval is not represented as complete.
The property sits between Xavier University and the University of Cincinnati, with shopping, hospitals, and highways nearby. Downtown Cincinnati is also readily accessible. The seller has pursued city approval for a curb cut that would support development of a four-car parking pad at the rear of the property; approval is not represented as complete.
Key Highlights
- All 4 units are rented
- 3 of 4 units renovated with new flooring, paint, baths, and kitchens
- Unit 3 has new windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,353
Cap Rate
6.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$567,060
$567.1K
Cap Rate 7%
$405,043
$405.0K
Cap Rate 9%
$315,033
$315.0K
Market Conditions
NOI Build-Up for 3,384 SF
Gross rent
$43.0K $12.72/SF
− Vacancy
−$2.5K −$0.75/SF
EGI
$40.5K $11.97/SF
− OpEx
−$12.2K −$3.59/SF
NOI
$28.4K $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 Rate 5%
$567,060
Cap Rate 7%
$405,043
Cap Rate 9%
$315,033
Alternative Uses
Best Use
Multifamily LT 5
$405.0K
$354.4K – $472.6K
NOI $28,353 @ 7.0% cap · market cap 6.75%
Second Best
Apartment 5plus
$359.2K
$314.3K – $419.1K
NOI $25,143 @ 7.0% cap · market cap 5.99%
Theoretical Best
Office A
$672.7K
$588.6K – $784.8K
NOI $47,088 @ 7.0% cap · market cap 11.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
809
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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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Quadplex - Three apartments have updated interiors, while shared areas include refreshed flooring and the basement offers coin laundry.
Where is this quadplex located?
The property is located at 3025 Gilbert Avenue Cincinnati, OH.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: All 4 units are rented; 3 of 4 units renovated with new flooring, paint, baths, and kitchens; Unit 3 has new windows
