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 Market49
Property Features for 5855 Lathrop Place
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Garage, On Street, Off Street
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
Radiant, Natural Gas
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
(513) 766-9200
Listed By:
Kim Ackerman · License #382903
(770) 880-6192
Added: Jul 17
Changed: Sep 2
Last Checked: Sep 3 at 4:06AM
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.
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$28,286
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.54%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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.
Property Analytics
Property Profile
Current Use
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
