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1873 Losantiville Ave
Cincinnati, OH 45237
1873 LOSANTIVILLE AVE. · Multifamily Property For Sale
·
5 Units
Property Facts
| No. Units | 5 | Lot Size | 0.20 AC |
| Property Type | Multifamily | Building Size | 5,132 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built/Renovated | 1947/2008 |
| Building Class | C | Parking Ratio | 0.78/1,000 SF |
| Zoning | RM-1.2 | ||
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 5,132 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1947/2008 |
| Parking Ratio | 0.78/1,000 SF |
| Zoning | RM-1.2 |
About 1873 LOSANTIVILLE AVE , CINCINNATI, OH 45237
Re: 1873 Losantiville Ave., Cincinnati Cap Rate 14%, Cash Flow 36% on beginning investment of $45,500. Five units: 1 1BR; 2 3BR/2 BATH, 2 4BR/2BATH Property will be in turnkey condition at closing with a new boiler and hotwater heater. Call for an Investment Analysis and full report. Thank you for your inquiry on this extraordinary opportunity. Cash Flow: 28% and Total Return of 36% The attached Investment Analysis is entirely pro-forma as the building is currently unoccupied. The assumed income is based on prior leases with Sec. 8 that would be higher now. Copies of the expired leases are available for your audit. I estimated the expenses including utilities. The property is owned by Jim Bronzie, who is a high-end builder and renovator of quality residential homes. He explains that this property simply does not conform with his business plan and he has had no time to manage it. He wants to delete it from his portfolio. The property was acquired in 2005, then completely remodeled in 2009 with all new mechanicals, windows, roof, kitchens, etc. The building does need a new boiler and hot water heater that will be installed prior to closing. Everything else will be ready to go for rental. The last rents were $915, 915, 850, 850 and 425. Current rents are estimated to be $900 and $1,000 for the 3 and 4-bedroom units and $500 for the 1-bedrood unit. The seller's bank has indicated that they would consider making a loan to a buyer who buys the LLC that owns the property, provided that the buyer is qualified. A 2006 appraisal is available showing a value of $260,000.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | $500.00 | - |
| 3+2 | 2 | $950.00 | - |
| 4+2 | 2 | $1,200 | - |
Property Taxes
| Parcel Number | 117-0012-0116 | Improvements Assessment | $81,869 |
| Land Assessment | $11,900 | Total Assessment | $93,769 |
Property Taxes
