Historic Multifamily Property with Loft
For Sale
$660,000
5508 Arnsby Place, Cincinnati, OH 45227
Updated one-bedroom rentals offer open eat-in kitchens, on-site laundry, and private tenant parking.
Property Size3,400 SF
Price / SF$194.12
Days on Market187
Property Features for 5508 Arnsby Place
General Information
Standard status
Active
Size
3,400 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
laundry
Fireplace
Window Unit
Forced Air
Gas
Deck, Patio, Porch, Shingle
Building Details
Year Built
1890
Listing Agency:
Coldwell Banker Realty
Listed By:
Meg Perez · License #2016002909
(513) 658-7478
Source:
Kw
Added: Apr 14
Changed: Oct 16
Last Checked: Oct 16 at 7:43AM
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
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Investment Insights
Based on property information with market context.
This 3,400+ square foot multifamily property, built in 1890, sits on almost 2/3 of an acre and includes updated one-bedroom, one-bath rentals. The units feature open eat-in kitchens with substantial cabinet storage and newer appliances, oversized living areas, large bedrooms, and updated bathrooms. Historic character remains throughout, while one residence offers a loft-style two-level layout. Laundry facilities are located on site, and off-street parking is available for tenants.
Outdoor features include a deck, patio, porch, and shingle exterior. Interior systems include fireplaces, window units, forced air, and gas service. The property is near the Murray Bike/Run Trail and Cincy Sports Club, with Mom n' Em Coffee/Wine two blocks away. Element Eatery, Red Dog/3-Acre Dog Park, Hyde Park, Oakley, Mariemont Squares, and I-71 are also within the stated nearby area.
Outdoor features include a deck, patio, porch, and shingle exterior. Interior systems include fireplaces, window units, forced air, and gas service. The property is near the Murray Bike/Run Trail and Cincy Sports Club, with Mom n' Em Coffee/Wine two blocks away. Element Eatery, Red Dog/3-Acre Dog Park, Hyde Park, Oakley, Mariemont Squares, and I-71 are also within the stated nearby area.
Key Highlights
- 3,400+ square feet on almost 2/3 of an acre
- Updated one‑bedroom, one‑bath rental units
- One unit features a loft‑style two‑level layout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,262
Cap Rate
3.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$505,240
$505.2K
Cap Rate 7%
$360,886
$360.9K
Cap Rate 9%
$280,689
$280.7K
Market Conditions
NOI Build-Up for 3,400 SF
Gross rent
$48.6K $14.28/SF
− Vacancy
−$2.6K −$0.77/SF
EGI
$45.9K $13.51/SF
− OpEx
−$20.7K −$6.08/SF
NOI
$25.3K $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%
$505,240
Cap Rate 7%
$360,886
Cap Rate 9%
$280,689
Alternative Uses
Best Use
Apartment 5plus
$360.9K
$315.8K – $421.0K
NOI $25,262 @ 7.0% cap · market cap 3.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$675.9K
$591.4K – $788.5K
NOI $47,311 @ 7.0% cap · market cap 7.17%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
795
Businesses Nearby
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Business Placement
Demographics for 45227, OH
18,427
Population
9,425
Households
2
Avg Household Size
38
Median Age
53%
College-Educated
94%
High-School Grad
5.8 sq mi
ZIP Area
3,177
Density / Sq Mi
$70,614
Median Household Income
$50,011
Median Earnings
$1,220
Median Rent
$256,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Multifamily property - Updated one-bedroom rentals offer open eat-in kitchens, on-site laundry, and private tenant parking.
Where is this multifamily property located?
The property is located at 5508 Arnsby Place Cincinnati, OH.
What is the asking price?
The asking price for this property is $660,000.
What are key features of this property?
This property features: 3,400+ square feet on almost 2/3 of an acre; Updated one‑bedroom, one‑bath rental units; One unit features a loft‑style two‑level layout
