Building Details

Building Size 1,686 SF

Year Built 1982

Listing Agency: Comey & Shepherd

Listed By: Peter Duffy · License #0000265025 Show Phone

Source: Kw

Added: Jun 17, 2025 Changed: Oct 4 Last Checked: Oct 5 at 5:02PM

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Investment Insights

Based on property information with market context.

This two-bedroom, 2.5-bath condo at Princeton Lake features an open layout with over 1,680 sq. ft. of living space, including a finished basement with a spacious family room and study. The kitchen includes granite countertops, stainless steel appliances, and ample cabinet space. The primary suite offers two closets. Located in a lake and pool community, the HOA includes water and trash services. Rentals are allowed, making this a potential opportunity for both homeowners and investors. It is located minutes from Union Center's shopping, dining, and entertainment. The property has been refreshed with new paint and flooring throughout, along with updated lighting. Immediate occupancy is available.

Key Highlights

• Over 1,680 sq. ft. of living space including finished basement with family room and study.
• Located in a desirable lake and pool community with HOA including water and trash.
• Updated kitchen with GRANITE countertops and STAINLESS STEEL appliances.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$15,131

Cap Rate

7.07%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$302,620 $302.6K

Cap Rate 7%

$216,157 $216.2K

Cap Rate 9%

$168,122 $168.1K

Market Conditions

NOI Build-Up for 1,686 SF

Gross rent

$29.7K $17.64/SF

− Vacancy

−$2.2K −$1.32/SF

EGI

$27.5K $16.32/SF

− OpEx

−$12.4K −$7.34/SF

NOI

$15.1K $8.97/SF

Area

Butler County, OH

Vacancy

7.50%

Lease Rate

$17.64 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$302,620

Cap Rate 7%

$216,157

Cap Rate 9%

$168,122

Alternative Uses

Best Use

Apartment 5plus

$216.2K

$189.1K – $252.2K (±1% cap)

NOI $15,131 @ 7.0% cap · market cap 7.07%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$333.4K

$291.7K – $388.9K (±1% cap)

NOI $23,335 @ 7.0% cap · market cap 10.90%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick Restaurant Real Estate Agency Law Firm Hair Salon Spa & Massage Center Storage Facility

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

25

Businesses Nearby

Explore this area Business Placement

Demographics for 45011, OH

73,596

Population

28,470

Households

2.6

Avg Household Size

38

Median Age

31%

College-Educated

88%

High-School Grad

60.4 sq mi

ZIP Area

1,218

Density / Sq Mi

$90,360

Median Household Income

$45,147

Median Earnings

$1,005

Median Rent

$272,000

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 apartment buildings located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Apartment building - Two-bedroom condo with finished basement, ideal for homeowners or investors.

Where is this apartment building located?

The property is located at 4923 Columbia Circle West Chester, OH.

What is the asking price?

The asking price for this property is $214,000.

What are key features of this property?

This property features: Over 1,680 sq. ft. of living space including finished basement with family room and study.; Located in a desirable lake and pool community with HOA including water and trash.; Updated kitchen with GRANITE countertops and STAINLESS STEEL appliances.