2749 Queen City Ave Cincinnati, OH 45238
- Commercial real estate
- 0.63 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 2749 Queen City Ave
- Year built
- 1967
- Lot size
- 0.63 lot acres
- Property type
- Commercial real estate
- APN
- 208-0063-0077-00 and 208-0036-0050-00
Description
This exceptional investment opportunity presents a well-maintained, 24-unit apartment building situated in Cincinnati, Ohio's desirable Westwood submarket. The property, encompassing 15,600 square feet of net rentable space across two, three-story buildings on a 0.63-acre lot, boasts a strong 92% occupancy rate as of September 16, 2024. Built in 1967 and extensively renovated in 2019, the property features 24 one-bedroom, one-bathroom units. Recent improvements include complete unit renovations, boiler system replacements, roof repairs, hot water heater replacement, parking lot resurfacing, and exterior repainting. The Westwood submarket offers convenient access to Interstates 70 and 75, and is less than fifteen minutes from downtown Cincinnati. This location benefits from strong rental demand, evidenced by a 7.6% rental growth increase in the past year and a healthy 95% overall submarket occupancy. No new apartment construction is anticipated in the next two years, ensuring continued high demand. The property currently averages $875 in monthly rent per unit, establishing a stable and attractive income stream for investors. The Hamilton County property, with APN numbers 208-0063-0077-00 and 208-0036-0050-00, represents a compelling investment in a thriving Cincinnati market.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Cincinnati
- County
- Hamilton
- State
- Ohio
- Longitude
- -84.593457747664
- Latitude
- 39.133322596795
