Building Details

Year Built 1900

Listing Agency: Plum Tree Realty

Listed By: Ali Abdur-Rahman · License #2004006274 Show Phone

Source: Cincylivingwithangela

Added: Aug 17 Changed: Sep 24 Last Checked: Oct 5 at 11:01PM

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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 Plum Tree Realty

Investment Insights

Based on property information with market context.

This four-unit property contains 3,752 square feet and offers a mix of two one-bedroom units, one two-bedroom unit, and one three-bedroom unit. Improvements completed in 2020 include windows, electrical, plumbing, flooring, kitchens, and bathrooms. A sewer line replacement was completed in 2023, and one unit is currently vacant.

The property is located at 3636 Reading Rd in Cincinnati’s Avondale area, next to a recreation center and on a bus line. Its unit variety and recent capital improvements provide a clear physical profile for residential income use.

Key Highlights

• Four‑unit property with 3,752 square feet
• Unit mix includes two 1‑bedroom units, one 2‑bedroom unit, and one 3‑bedroom unit
• 2020 updates include windows, electrical, plumbing, flooring, kitchens, and bathrooms

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$31,437

Cap Rate

8.98%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$628,740 $628.7K

Cap Rate 7%

$449,100 $449.1K

Cap Rate 9%

$349,300 $349.3K

Market Conditions

NOI Build-Up for 3,752 SF

Gross rent

$47.7K $12.72/SF

− Vacancy

−$2.8K −$0.75/SF

EGI

$44.9K $11.97/SF

− OpEx

−$13.5K −$3.59/SF

NOI

$31.4K $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%

$628,740

Cap Rate 7%

$449,100

Cap Rate 9%

$349,300

Alternative Uses

Best Use

Multifamily LT 5

$449.1K

$393.0K – $524.0K (±1% cap)

NOI $31,437 @ 7.0% cap · market cap 8.98%

Second Best

Apartment 5plus

$398.2K

$348.5K – $464.6K (±1% cap)

NOI $27,877 @ 7.0% cap · market cap 7.97%

Theoretical Best

Office A

$745.8K

$652.6K – $870.2K (±1% cap)

NOI $52,209 @ 7.0% cap · market cap 14.92%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Quadplexes

Suggested Use

Top Pick Real Estate Agency Law Firm HVAC Service Kitchen & Bath Showroom Pharmacy Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

479

Businesses Nearby

Explore this area Business Placement

Demographics for 45229, OH

12,540

Population

7,813

Households

1.6

Avg Household Size

37

Median Age

31%

College-Educated

87%

High-School Grad

2.7 sq mi

ZIP Area

4,644

Density / Sq Mi

$30,829

Median Household Income

$25,772

Median Earnings

$831

Median Rent

$316,000

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

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What type of property is this? Where is this quadplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Quadplex - Four-unit residential income property with updated interiors, building systems, and convenient transit access.

Where is this quadplex located?

The property is located at 3636 Reading Rd Cincinnati, OH.

What is the asking price?

The asking price for this property is $349,900.

What are key features of this property?

This property features: Four‑unit property with 3,752 square feet; Unit mix includes two 1‑bedroom units, one 2‑bedroom unit, and one 3‑bedroom unit; 2020 updates include windows, electrical, plumbing, flooring, kitchens, and bathrooms