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1610 Queen City Avenue 1610 Queen City Ave 6 Unit Apartment Building $575,000 ($95,833/Unit) 9.08% Cap Rate Cincinnati, OH 45214
Investment Highlights
- Strong In-Place Income with Upside – 5 of 6 units occupied with immediate value-add through lease-up and rent growth
- Pro Forma NOI Growth Opportunity – Ability to increase rents to market levels and stabilize returns
Executive Summary
1610 Queen City Ave is a 6-unit multifamily investment opportunity offering strong inplace cash flow with a clear path to increased income and forced appreciation. The
property is currently 83% occupied with five income-producing units, including a topperforming unit achieving $1,500 per month, validating the asset’s rental upside.
The investment presents a compelling value-add opportunity through the activation of an additional 3-bedroom unit and strategic rent increases on under-market units. Upon
stabilization, the property is projected to generate over $80,000 in annual gross income, significantly enhancing overall returns. Located along the highly trafficked Queen City Avenue corridor, the property benefits from strong connectivity to I-75 and downtown Cincinnati, positioning it within a dense workforce housing market with consistent rental demand. This is an ideal opportunity for investors seeking a manageable multifamily asset with both immediate cash flow and meaningful upside through operational improvements.
property is currently 83% occupied with five income-producing units, including a topperforming unit achieving $1,500 per month, validating the asset’s rental upside.
The investment presents a compelling value-add opportunity through the activation of an additional 3-bedroom unit and strategic rent increases on under-market units. Upon
stabilization, the property is projected to generate over $80,000 in annual gross income, significantly enhancing overall returns. Located along the highly trafficked Queen City Avenue corridor, the property benefits from strong connectivity to I-75 and downtown Cincinnati, positioning it within a dense workforce housing market with consistent rental demand. This is an ideal opportunity for investors seeking a manageable multifamily asset with both immediate cash flow and meaningful upside through operational improvements.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $575,000 | Building Class | C |
| Price Per Unit | $95,833 | Lot Size | 0.05 AC |
| Sale Type | Investment | Building Size | 4,924 SF |
| Cap Rate | 9.08% | Average Occupancy | 83% |
| No. Units | 6 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1900 |
| Property Subtype | Apartment | Parking Ratio | 0.81/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | CC-A - Open | ||
| Price | $575,000 |
| Price Per Unit | $95,833 |
| Sale Type | Investment |
| Cap Rate | 9.08% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.05 AC |
| Building Size | 4,924 SF |
| Average Occupancy | 83% |
| No. Stories | 4 |
| Year Built | 1900 |
| Parking Ratio | 0.81/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | CC-A - Open |
Amenities
Unit Amenities
- Air Conditioning
- Heating
Site Amenities
- 24 Hour Access
- Furnished Units Available
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | - |
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 202-0031-0142 | Improvements Assessment | $30,835 |
| Land Assessment | $4,407 | Total Assessment | $35,242 |
Property Taxes
Parcel Number
202-0031-0142
Land Assessment
$4,407
Improvements Assessment
$30,835
Total Assessment
$35,242
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1610 Queen City Avenue | 1610 Queen City Ave
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