Building Details

Year Built 1905

Listing Agency: Dwyer Commercial Real Estate

Listed By: Matthew Morris Show Phone

Source: Cincylivingwithangela

Added: May 23 Changed: Oct 3 Last Checked: Oct 15 at 12:06AM

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Investment Insights

Based on property information with market context.

Located at 3825 Eastern Ave in Cincinnati's Columbia-Tusculum corridor, this fully occupied 7-unit brick multifamily property presents a rare investment opportunity. The property consists of six 2-bedroom units and one 1-bedroom unit. The gross monthly income is $9,450. The interiors feature original hardwood floors. Tenants have access to a private side and rear courtyard. Constructed in 1905, the property retains its architectural character while incorporating strategic modern updates. The newly implemented CC-M-B zoning provides enhanced density flexibility and reduced parking requirements for future value-add potential. The property is located near dining options at Columbia Square and is a short distance from Downtown Cincinnati. The property is in a walkable and prestigious neighborhood.

Key Highlights

• Fully occupied 7‑unit multifamily property generating $9,450 gross monthly income.
• Located in the high‑demand Columbia‑Tusculum corridor, steps from Columbia Square dining.
• Newly implemented CC‑M‑B zoning offers enhanced density flexibility and reduced parking requirements.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$62,411

Cap Rate

5.21%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,248,220 $1.2M

Cap Rate 7%

$891,586 $891.6K

Cap Rate 9%

$693,456 $693.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 8,400 SF

Gross rent

$120.0K $14.28/SF

− Vacancy

−$6.5K −$0.77/SF

EGI

$113.5K $13.51/SF

− OpEx

−$51.1K −$6.08/SF

NOI

$62.4K $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 Rate 5%

$1,248,220

Cap Rate 7%

$891,586

Cap Rate 9%

$693,456

Alternative Uses

Best Use

Apartment 5plus

$891.6K

$780.1K – $1.04M (±1% cap)

NOI $62,411 @ 7.0% cap · market cap 5.21%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.67M

$1.46M – $1.95M (±1% cap)

NOI $116,886 @ 7.0% cap · market cap 9.75%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Mayweather Ohio Gym & Fitness Center

Suggested Use

Top Pick Electrical Service Pharmacy HVAC Service Bakery Hair Salon Garden 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

582

Businesses Nearby

Explore this area Business Placement

Demographics for 45226, OH

5,687

Population

3,272

Households

1.7

Avg Household Size

36

Median Age

73%

College-Educated

98%

High-School Grad

5.7 sq mi

ZIP Area

998

Density / Sq Mi

$100,320

Median Household Income

$59,639

Median Earnings

$1,244

Median Rent

$387,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Apartment building - Fully occupied 7-unit multifamily property in Cincinnati's Columbia-Tusculum corridor.

Where is this apartment building located?

The property is located at 3825 Eastern Ave Cincinnati, OH.

What is the asking price?

The asking price for this property is $1,199,000.

What are key features of this property?

This property features: Fully occupied 7‑unit multifamily property generating $9,450 gross monthly income.; Located in the high‑demand Columbia‑Tusculum corridor, steps from Columbia Square dining.; Newly implemented CC‑M‑B zoning offers enhanced density flexibility and reduced parking requirements.