8-Unit Apartment
4720 Ridge Ave, Cincinnati, OH 45209
For Sale
$999,900
Eight two-bedroom apartments include hardwood floors and on-site laundry.
Property Size6,102 SF
Price / SF$163.86
Days on Market17
Property Features for 4720 Ridge Ave
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Occupancy
Site & Location
Neighborhood
Highway Access
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Amenities
hardwood flooring
on-site laundry
Building Details
Buildings
Listing Agency:
Keller Williams Advisors
(513) 766-9200
Listed By:
Mitchell Kenney
(513) 288-9394
Source:
Exprealty
Added: Oct 23
Changed: Nov 7
Last Checked: Nov 7 at 4:23PM
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 Keller Williams Advisors
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Investment Insights
Based on property information with market context.
The 6,102-square-foot apartment building contains eight two-bedroom, one-bath units. Hardwood floors are present throughout the apartments, with remodeled bathrooms in some units. On-site laundry provides an additional income source. The property is fully occupied. Heat is paid by the owner, while tenants cover electric service.
Building and site work includes an EPDM roof installed in 2017, replacement vinyl windows, and LED lighting in common areas. Improvements in 2024 included the main gas line, water main with a new pressure valve and shutoff, concrete apron and sidewalks, and exterior paint; electrical updates followed in 2025.
There are 10 off-street parking spaces: six to seven on site, with four additional spaces covered by an agreement for the rear lot. The property is near Rookwood, Hyde Park, and I-71.
Building and site work includes an EPDM roof installed in 2017, replacement vinyl windows, and LED lighting in common areas. Improvements in 2024 included the main gas line, water main with a new pressure valve and shutoff, concrete apron and sidewalks, and exterior paint; electrical updates followed in 2025.
There are 10 off-street parking spaces: six to seven on site, with four additional spaces covered by an agreement for the rear lot. The property is near Rookwood, Hyde Park, and I-71.
Key Highlights
- Eight units, each configured with two bedrooms and one bathroom
- 6,102‑square‑foot apartment building; fully occupied
- On‑site laundry offers an additional income source
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,337
Cap Rate
4.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$906,740
$906.7K
Cap Rate 7%
$647,671
$647.7K
Cap Rate 9%
$503,744
$503.7K
Market Conditions
NOI Build-Up for 6,102 SF
Gross rent
$87.1K $14.28/SF
− Vacancy
−$4.7K −$0.77/SF
EGI
$82.4K $13.51/SF
− OpEx
−$37.1K −$6.08/SF
NOI
$45.3K $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%
$906,740
Cap Rate 7%
$647,671
Cap Rate 9%
$503,744
Alternative Uses
Best Use
Apartment 5plus
$647.7K
$566.7K – $755.6K
NOI $45,337 @ 7.0% cap · market cap 4.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.21M
$1.06M – $1.42M
NOI $84,909 @ 7.0% cap · market cap 8.49%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
8
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
892
Businesses Nearby
Explore this area
Business Placement
Demographics for 45209, OH
10,708
Population
6,592
Households
1.6
Avg Household Size
32
Median Age
75%
College-Educated
96%
High-School Grad
2.3 sq mi
ZIP Area
4,656
Density / Sq Mi
$87,841
Median Household Income
$67,356
Median Earnings
$1,291
Median Rent
$386,600
Median Home Value
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Market
Properties on Market for Apartment buildings in Cincinnati
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Eight two-bedroom apartments include hardwood floors and on-site laundry.
Where is this apartment building located?
The property is located at 4720 Ridge Ave Cincinnati, OH.
What is the asking price?
The asking price for this property is $999,900.
What are key features of this property?
This property features: Eight units, each configured with two bedrooms and one bathroom; 6,102‑square‑foot apartment building; fully occupied; On‑site laundry offers an additional income source
