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    5843 Harrison Ave Cincinnati, OH 45248

    Sponsored
    For Sale
    $2,600,000

    12-Unit Apartment Building, High ROI

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 12-unit apartment building presents a compelling investment opportunity in Cincinnati, Ohio. Located at 5843 Harrison Ave, this three-story, 1988-built property underwent a complete renovation in 2021, boasting modern units and a strong NOI of $165,000, yielding a 6.35% cap rate. The asking price is $2,600,000, translating to $216,667 per unit. Situated on a 1.29-acre lot (APN 550-0183-0052) with MF zoning, this property benefits from its prime location. Just blocks from I-74, it enjoys high visibility with over 30,000 vehicles passing daily on Harrison Avenue. The building's strategic placement across the street from major anchors like Kroger, Cinemark Theatres, Cincinnati Children's Hospital, and Christ Hospital ensures consistent demand and high occupancy rates. This multifamily investment offers not only strong current returns but also potential for future development on the sizable lot. The property's Class C designation reflects its solid value and potential for appreciation. This is a rare opportunity to acquire a well-maintained, high-performing multifamily asset in a thriving Cincinnati location.

    Property Features for 5843 Harrison Ave

    General Information

    Property type
    Multifamily properties
    Class
    C
    Lot Size
    56,192 SF

    Building Details

    Year Built/Renovated
    1988/2021
    Buildings
    1
    Stories
    3
    Units
    12

    HighLights

    • Excellent investment opportunity.
    • Recently converted multifamily property.
    • Prime commercial location.
    • Twelve modern apartment units.
    • Short distance to I‑74.
    • High traffic count (30,000+ vehicles daily) on Harrison Ave.
    Property Profile Location Intelligence

    Current Use by Public Records

    On the Autism Spectrum Community Center Insurance Planning Systems Insurance Agency Dan Autenrieb - MetLife ... Insurance Agency United Family Services Financial Consultant JL 327 Band ... Band

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cincinnati
    County
    Hamilton
    State
    Ohio
    Longitude
    -84.641636732663
    Latitude
    39.173935584777

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    FAQs

    What type of property is this?
    Multifamily property - 12-Unit Apartment Building, High ROI
    Where is this multifamily property located?
    The property is located at 5843 Harrison Ave Cincinnati, OH.
    What is the asking price?
    The asking price for this property is $2,600,000.
    What are key features of this property?
    This property features: Excellent investment opportunity.; Recently converted multifamily property.; Prime commercial location.
    Request Owner's contact information
    5843 Harrison Ave Cincinnati, OH 45248
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    5843 Harrison Ave Cincinnati, OH 45248
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