Historic Italianate Multifamily
For Sale
$725,000
Pending
428 Elizabeth Street, Cincinnati, OH 45203
Apartments offer exposed brick, open layouts, natural light, and individual HVAC systems.
Property Size4,359 SF
Days on Market55
Property Features for 428 Elizabeth Street
General Information
Standard status
Pending
Size
4,359 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
cosmetic updates to some units
Amenities
private yard
deck
exposed brick
open floor plans
spiral staircase
natural light
individual HVAC
Building Details
Year Built
1875
Construction
Italianate
Listing Agency:
Coldwell Banker Realty (513-321-9944)
Listed By:
Tami Holmes · License #2005015284
(937) 506-8360
Source:
Tami-holmes
Added: Aug 24
Changed: Oct 16
Last Checked: Oct 16 at 8:31AM
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 Coldwell Banker Realty (513-321-9944)
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1875, this 4,359-square-foot Italianate multifamily property includes apartments with exposed brick, open floor plans, spiral staircases, and natural light. Each unit has its own HVAC system. The owner's unit has modern finishes, a separate street entrance, a primary suite, a private yard with deck, and reserved parking.
The property is located at 428 Elizabeth Street in Cincinnati's Betts Longworth Historic District, near FC Stadium, Findlay Market, and Washington Park. An additional lot is included with the sale; zoning and buildability require buyer verification. Water service is paid by the owner.
The property is located at 428 Elizabeth Street in Cincinnati's Betts Longworth Historic District, near FC Stadium, Findlay Market, and Washington Park. An additional lot is included with the sale; zoning and buildability require buyer verification. Water service is paid by the owner.
Key Highlights
- 4,359‑square‑foot multifamily property built in 1875
- Italianate building in Cincinnati's Betts Longworth Historic District
- Owner's unit includes modern finishes, private entrance, primary suite, yard, deck, and reserved parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,387
Cap Rate
4.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$647,740
$647.7K
Cap Rate 7%
$462,671
$462.7K
Cap Rate 9%
$359,856
$359.9K
Market Conditions
NOI Build-Up for 4,359 SF
Gross rent
$62.2K $14.28/SF
− Vacancy
−$3.4K −$0.77/SF
EGI
$58.9K $13.51/SF
− OpEx
−$26.5K −$6.08/SF
NOI
$32.4K $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%
$647,740
Cap Rate 7%
$462,671
Cap Rate 9%
$359,856
Alternative Uses
Best Use
Apartment 5plus
$462.7K
$404.8K – $539.8K
NOI $32,387 @ 7.0% cap · market cap 4.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$866.5K
$758.2K – $1.01M
NOI $60,656 @ 7.0% cap · market cap 8.37%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,644
Businesses Nearby
Explore this area
Business Placement
Demographics for 45203, OH
2,365
Population
1,283
Households
1.8
Avg Household Size
34
Median Age
40%
College-Educated
88%
High-School Grad
1.2 sq mi
ZIP Area
1,971
Density / Sq Mi
$33,798
Median Household Income
$50,893
Median Earnings
$749
Median Rent
$296,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Multifamily property - Apartments offer exposed brick, open layouts, natural light, and individual HVAC systems.
Where is this multifamily property located?
The property is located at 428 Elizabeth Street Cincinnati, OH.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 4,359‑square‑foot multifamily property built in 1875; Italianate building in Cincinnati's Betts Longworth Historic District; Owner's unit includes modern finishes, private entrance, primary suite, yard, deck, and reserved parking
