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1032 Columbia St 5 Unit Apartment Building $370,000 ($74,000/Unit) 8.04% Cap Rate Newport, KY 41071
Investment Highlights
- A mix of spacious 1 bedroom layouts.
- Less than 10 minutes to Downtown Cincinnati, with easy access to I-471.
- Separate electric meters; landlord currently pays water.
- Walkable to Newport on the Levee, Ovation, and the future site of the new Entertainment District.
- Current leases in place with solid tenant history.
- Market rents trending higher; additional value-add through cosmetic renovations or utility bill-back.
Executive Summary
Located just minutes from Downtown Cincinnati, 1032 Columbia St presents a rare opportunity to acquire a stabilized 5-unit multifamily building in one of Northern Kentucky’s fastest-growing urban corridors. This well-maintained brick property features a desirable unit mix, strong rental history, and significant upside potential through rent increases or light value-add upgrades.
Property Facts
| Price | $370,000 | Apartment Style | Low-Rise |
| Price Per Unit | $74,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 8.04% | Building Size | 4,389 SF |
| Gross Rent Multiplier | 6.3 | No. Stories | 2 |
| No. Units | 5 | Year Built | 1874 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment |
| Price | $370,000 |
| Price Per Unit | $74,000 |
| Sale Type | Investment |
| Cap Rate | 8.04% |
| Gross Rent Multiplier | 6.3 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 4,389 SF |
| No. Stories | 2 |
| Year Built | 1874 |
| Opportunity Zone |
Yes |
Amenities
Unit Amenities
- Air Conditioning
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 5 | - | - |
1 1
Walk Score®
Very Walkable (85)
Property Taxes
| Parcel Number | 999-99-03-061.00 | Improvements Assessment | $206,500 |
| Land Assessment | $30,000 | Total Assessment | $236,500 |
Property Taxes
Parcel Number
999-99-03-061.00
Land Assessment
$30,000
Improvements Assessment
$206,500
Total Assessment
$236,500
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1032 Columbia St
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