11-Unit Renovated Multifamily
For Sale
$1,199,000
945 Dana Avenue, Cincinnati, OH 45229
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$103.96
Days on Market173
Property Features for 945 Dana Avenue
General Information
Standard status
Active
Size
11,533 SF
Total Parking Spaces
20
Property subtype
Multi-Family
Site & Location
Neighborhood
Avondale - North Avondale
Building Details
Year Built
1900
Listing Agency:
Ownerland Realty, Inc. (513-600-2512)
Listed By:
Tami Holmes · License #2005015284
(937) 506-8360
Source:
Tami-holmes
Added: May 8
Changed: Oct 27
Last Checked: Oct 26 at 3:57PM
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 Ownerland Realty, Inc. (513-600-2512)
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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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$85,689
Cap Rate
7.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,713,780
$1.7M
Cap Rate 7%
$1,224,129
$1.2M
Cap Rate 9%
$952,100
$952.1K
Market Conditions
NOI Build-Up for 11,533 SF
Gross rent
$164.7K $14.28/SF
− Vacancy
−$8.9K −$0.77/SF
EGI
$155.8K $13.51/SF
− OpEx
−$70.1K −$6.08/SF
NOI
$85.7K $7.43/SF
Area
Cincinnati, OH
Vacancy
5.40%
Lease Rate
$14.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,713,780
Cap Rate 7%
$1,224,129
Cap Rate 9%
$952,100
Alternative Uses
Best Use
Apartment 5plus
$1.22M
$1.07M – $1.43M
NOI $85,689 @ 7.0% cap · market cap 7.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.29M
$2.01M – $2.67M
NOI $160,482 @ 7.0% cap · market cap 13.38%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
490
Businesses Nearby
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Business Placement
Demographics for 45229, OH
12,540
Population
7,813
Households
1.6
Avg Household Size
37
Median Age
31%
College-Educated
87%
High-School Grad
2.7 sq mi
ZIP Area
4,644
Density / Sq Mi
$30,829
Median Household Income
$25,772
Median Earnings
$831
Median Rent
$316,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
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 $1,199,000.
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.
