Renovated Four-Unit Apartment
For Sale
$375,000
5855 Lathrop Place, Cincinnati, OH 45224
Four one-bedroom apartments feature individual balconies and updated kitchens, flooring, plumbing, lighting, and paint.
Property Size3,376 SF
Price / SF$111.08
Days on Market102
Property Features for 5855 Lathrop Place
General Information
Standard status
Active
Size
3,376 SF
Property subtype
Multi Family Home
Site & Location
Neighborhood
College Hill
Units
Unit Mix
4 x 1BR
Multifamily Units
4
Amenities
balconies
Building Details
Building Size
3,376 SF
Year Built
1952
Units
4
Construction
Art Deco
Listing Agency:
Keller Williams Advisors
(513) 766-9200
Listed By:
Kim M. Ackerman · License #382903
(513) 368-3719
Source:
Galbraithrealtors
Added: Jul 17
Changed: Oct 25
Last Checked: Oct 23 at 4:58PM
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.
This 1952 apartment property contains four 800-square-foot, one-bedroom units, each with its own balcony. Apartment updates include kitchens, flooring, PVC plumbing stacks, light fixtures, and fresh paint. Tile bathrooms are in very good condition, and the building has an Art Deco character. Mechanical systems are described as newer.
The property totals 3,376 square feet and is located at 5855 Lathrop Place in Cincinnati, Ohio. Split heating and air-conditioning units are a negotiable feature; their installation would remove the boiler heating expense, according to the property information.
The property totals 3,376 square feet and is located at 5855 Lathrop Place in Cincinnati, Ohio. Split heating and air-conditioning units are a negotiable feature; their installation would remove the boiler heating expense, according to the property information.
Key Highlights
- Four 800‑square‑foot, one‑bedroom apartments, each with an individual balcony
- Updated kitchens, flooring, PVC plumbing stacks, light fixtures, and fresh paint in each unit
- Tile bathrooms in very good condition
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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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 kitchens, flooring, plumbing, lighting, and paint.
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 800‑square‑foot, one‑bedroom apartments, each with an individual balcony; Updated kitchens, flooring, PVC plumbing stacks, light fixtures, and fresh paint in each unit; Tile bathrooms in very good condition
