Cincinnati Multifamily Property Near
For Sale
Contact for pricing
Pending
SOUTHVIEW AVENUE CINCINNATI OH 45219, Cincinnati, OH 45219
Multifamily property near University of Cincinnati with student housing potential.
Property Size2,276 SF
Days on Market115
Property Features for SOUTHVIEW AVENUE CINCINNATI OH 45219
General Information
Standard status
Pending
Size
2,276 SF
Property subtype
Multifamily
Occupancy
50%
Building Details
Year Built
1900
Buildings
1
Units
2
Listing Agency:
GJS Ohio LLC
Listed By:
Garry Schloemer · License #OH SAL.2018005500
Source:
Crexi
Added: May 11
Changed: Aug 31
Last Checked: Aug 31 at 10:40PM
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).
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$19,070
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.09%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$381,400
$381.4K
Cap Rate 7%
$272,429
$272.4K
Cap Rate 9%
$211,889
$211.9K
Market Conditions
NOI Build-Up for 2,276 SF
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.
Gross rent
$29.0K $12.72/SF
− Vacancy
−$1.7K −$0.75/SF
EGI
$27.2K $11.97/SF
− OpEx
−$8.2K −$3.59/SF
NOI
$19.1K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$381,400
Cap Rate 7%
$272,429
Cap Rate 9%
$211,889
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 authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,302
Businesses Nearby
Explore this area
Business Placement
Demographics for 45219, OH
20,644
Population
8,023
Households
2.6
Avg Household Size
25
Median Age
50%
College-Educated
89%
High-School Grad
1.6 sq mi
ZIP Area
12,903
Density / Sq Mi
$35,936
Median Household Income
$12,462
Median Earnings
$1,166
Median Rent
$222,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
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 SOUTHVIEW AVENUE CINCINNATI OH 45219 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).
