Cincinnati Multifamily Property Near
421 Southview Avenue Cincinnati, OH 45219
421 Southview Avenue, Cincinnati, OH, 45219
Contact for pricing
For Sale
Contact for pricing
Multifamily property near University of Cincinnati with student housing potential.
Property Size2,276 SF
Price / SF$164.76
Days on Market69
Property Features for 421 Southview Avenue
General Information
- Standard status
- Active
- Size
- 2,276 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1900
Listing Agency
GJS Ohio LLC
Listed by
Garry Schloemer · License #OH SAL.2018005500
Source
Crexi
Added: May 11 Checked: Jul 13 at 11:16 am
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 GJS Ohio LLC
Investment Insights
Based on property information with market context.
This multifamily property, located at 421 Southview Avenue in Cincinnati, OH 45219, is identified by Parcel ID 098-0006-0039-00. The property is suitable for student housing, being located 0.4 miles from the University of Cincinnati campus. The building features two units: one 1x1 unit and one 3x1 unit. The property has a shingle roof (2025), a rubber membrane section (2021), two furnaces (2025) & (2023), vinyl siding (2026), vinyl windows (2015), and PVC & copper plumbing, including a PVC stack. Basement laundry is available. The owner is responsible for water and sewer utilities, while tenants cover gas and electric. The 1x1 unit is leased for the 2026-2027 school year at $800 per month, with a pro forma of $975 per month for the 2027-2028 school year. The 3x1 unit is available for lease for the 2026-2027 school year at $1800 per month, with a pro forma of $2095 per month for the 2027-2028 school year. The property size is 2276 square feet.
Key Highlights
- Prime Location: Only 0.4 miles to the University of Cincinnati campus, ideal for student housing.
- Income Potential: Two units with existing and pro forma leases, including a 1x1 leased for the 2026‑2027 school year at $800/month and a 3x1 for lease at $1800/month.
- Recent Upgrades: Shingle Roof (2025), Rubber Membrane Section (2021), Two Furnaces (2025 & 2023), and Vinyl Siding (2026).
Local Financial Insights For Multifamily LT 5
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 | $29.0k | $12.72 |
| − Vacancy | −$1.7k | −$0.75 |
| EGI | $27.2k | $11.97 |
| − OpEx | −$8.2k | −$3.59 |
| NOI | $19.1k | $8.38 |
2,276 SF · lease $12.72/SF/yr · vacancy 5.90% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$272.4K
$238.4K – $317.8K
NOI $19,070 @ 7.0% cap · market cap 5.09%
Second Best
Apartment 5plus
$241.6K
$211.4K – $281.8K
NOI $16,910 @ 7.0% cap · market cap 4.51%
Theoretical Best
Office A
$452.4K
$395.9K – $527.9K
NOI $31,671 @ 7.0% cap · market cap 8.45%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Multifamily property near University of Cincinnati with student housing potential.
Where is this duplex located?
The property is located at 421 Southview Avenue 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: Prime Location: Only 0.4 miles to the University of Cincinnati campus, ideal for student housing.; Income Potential: Two units with existing and pro forma leases, including a 1x1 leased for the 2026‑2027 school year at $800/month and a 3x1 for lease at $1800/month.; Recent Upgrades: Shingle Roof (2025), Rubber Membrane Section (2021), Two Furnaces (2025 & 2023), and Vinyl Siding (2026).
