Four-Unit Apartment
For Sale
$375,000
5855 Lathrop Place, Cincinnati, OH 45224
Residential Income, Cincinnati, OH
Property Size3,376 SF
Lot Size0.21 Acres
Price / SF$111.08
Days on Market97
Property Features for 5855 Lathrop Place
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Off Street, On Street, Garage
High school district
Cincinnati City SD
Directions
Hamilton to Belmont. Belmont to Cedar. Right on Cedar. Left on Lathrop.
Subdivision
Hamilton-W06
Standard status
Active
APN
229-0004-0009-00
Size
3,376 SF
Lot size
0.21 Acres
Utilities
Heating system
Natural Gas, Radiant
Amenities
individual balconies
Building Details
Year built
1952
Number of units
4
Building materials
Brick
Roof type
Composition
Listing Agency:
Keller Williams Advisors · Keller Williams Realty
Listed By:
Kim Ackerman
(513) 766-9200
Added: Jul 17
Changed: Oct 16
Last Checked: Oct 21 at 12:06AM
MLS# 1887227
Copyright © 2026 MLS of Greater Cincinnati, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 3,376-square-foot quadplex contains four one-bedroom apartments of approximately 800 square feet each. Individual units include updated kitchens, flooring, light fixtures, PVC plumbing stacks, tile bathrooms, and fresh paint, with an Art Deco-inspired interior character. Each apartment also has its own balcony. Newer mechanical systems support the property, which uses natural gas and radiant heating.
Built in 1952 on a 0.211-acre parcel, the brick building is located at 5855 Lathrop Place in Cincinnati, Ohio. Parking is available through garage, off-street, and on-street options. The composition roof completes the existing building improvements.
Built in 1952 on a 0.211-acre parcel, the brick building is located at 5855 Lathrop Place in Cincinnati, Ohio. Parking is available through garage, off-street, and on-street options. The composition roof completes the existing building improvements.
Key Highlights
- Four one‑bedroom apartments, approximately 800 square feet each
- 3,376‑square‑foot quadplex on a 0.211‑acre parcel
- Individual balconies for each apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,286
Cap Rate
7.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$565,720
$565.7K
Cap Rate 7%
$404,086
$404.1K
Cap Rate 9%
$314,289
$314.3K
Market Conditions
NOI Build-Up for 3,376 SF
Gross rent
$42.9K $12.72/SF
− Vacancy
−$2.5K −$0.75/SF
EGI
$40.4K $11.97/SF
− OpEx
−$12.1K −$3.59/SF
NOI
$28.3K $8.38/SF
Area
Cincinnati, OH
Vacancy
5.90%
Lease Rate
$12.72 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$565,720
Cap Rate 7%
$404,086
Cap Rate 9%
$314,289
Alternative Uses
Best Use
Multifamily LT 5
$404.1K
$353.6K – $471.4K
NOI $28,286 @ 7.0% cap · market cap 7.54%
Second Best
Apartment 5plus
$358.3K
$313.5K – $418.1K
NOI $25,083 @ 7.0% cap · market cap 6.69%
Theoretical Best
Office A
$671.1K
$587.2K – $783.0K
NOI $46,977 @ 7.0% cap · market cap 12.53%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
465
Businesses Nearby
Explore this area
Business Placement
Demographics for 45224, OH
20,214
Population
9,886
Households
2
Avg Household Size
45
Median Age
34%
College-Educated
92%
High-School Grad
6.1 sq mi
ZIP Area
3,314
Density / Sq Mi
$57,754
Median Household Income
$39,579
Median Earnings
$895
Median Rent
$174,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Four one-bedroom apartments feature individual balconies and updated interiors.
Where is this quadplex located?
The property is located at 5855 Lathrop Place Cincinnati, OH.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Four one‑bedroom apartments, approximately 800 square feet each; 3,376‑square‑foot quadplex on a 0.211‑acre parcel; Individual balconies for each apartment
