11-Unit Renovated Multifamily
945 Dana Avenue Cincinnati, OH 45229
945 Dana Avenue, Cincinnati, OH, 45229
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For Sale
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Fully renovated 11-unit multifamily property with updated interiors, boiler heat, window AC, and about 20 on-site parking spaces.
Property Size11,533 SF
Price / SF$112.68
Days on Market79
Property Features for 945 Dana Avenue
General Information
- Standard status
- Active
- Size
- 11,533 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1900
Listing agency
KW Commercial Keller Williams Advisor's Realty
Listed by
Adam Curry · License #OH 2014003970
Source
Crexi
Added: May 5 Updated: Jul 21 at 6:11PM Checked: Jul 22 at 7:17AM
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 KW Commercial Keller Williams Advisor's Realty
Investment Insights
Based on property information with market context.
945 Dana Ave is a fully renovated 11-unit multifamily property. The unit mix includes eight two-bedroom units, two one-bedroom units, and one three-bedroom unit, with several units featuring flex dens that can function as additional bedrooms. Common areas have been updated with marble floors, new lighting fixtures, and freshly painted interiors and exteriors.
The building includes boiler heat and window AC units in the apartments and provides approximately 20 on-site parking spaces. The basement is presented as a potential value-add area for adding an additional unit.
Current operations include RUBS in place to help offset expenses and improve NOI. The apartment configurations support tenant flexibility through the flex den layouts, while the overall renovation scope reflects a detail-oriented approach to both interior and exterior improvements.
The building includes boiler heat and window AC units in the apartments and provides approximately 20 on-site parking spaces. The basement is presented as a potential value-add area for adding an additional unit.
Current operations include RUBS in place to help offset expenses and improve NOI. The apartment configurations support tenant flexibility through the flex den layouts, while the overall renovation scope reflects a detail-oriented approach to both interior and exterior improvements.
Key Highlights
- Fully renovated 11‑unit multifamily property (built 1900) in Cincinnati’s North Avondale neighborhood.
- Unit mix includes 8 two‑bedrooms, 2 one‑bedrooms, and 1 three‑bedroom unit.
- Common areas updated with marble floors, new lighting fixtures, and freshly painted interiors and exteriors.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $164.7k | $14.28 |
| − Vacancy | −$8.9k | −$0.77 |
| EGI | $155.8k | $13.51 |
| − OpEx | −$70.1k | −$6.08 |
| NOI | $85.7k | $7.43 |
11,533 SF · lease $14.28/SF/yr · vacancy 5.40% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.22M
$1.07M – $1.43M
NOI $85,689 @ 7.0% cap · market cap 6.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.29M
$2.01M – $2.67M
NOI $160,482 @ 7.0% cap · market cap 12.35%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Fully renovated 11-unit multifamily property with updated interiors, boiler heat, window AC, and about 20 on-site parking spaces.
Where is this apartment building located?
The property is located at 945 Dana Avenue Cincinnati, OH.
What is the asking price?
The asking price for this property is $1,299,500.
What are key features of this property?
This property features: Fully renovated 11‑unit multifamily property (built 1900) in Cincinnati’s North Avondale neighborhood.; Unit mix includes 8 two‑bedrooms, 2 one‑bedrooms, and 1 three‑bedroom unit.; Common areas updated with marble floors, new lighting fixtures, and freshly painted interiors and exteriors.
