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203 W McMillan St 6 Unit Apartment Building $825,000 ($137,500/Unit) 6.89% Cap Rate Cincinnati, OH 45219
INVESTMENT HIGHLIGHTS
- Five apartments with great rental history sit above a longstanding restaurant (tenant) just a block from University of Cincinnati
- Just steps away from Metro Bus stop
- Designated parking for the restaurant in the rear of the buidling
EXECUTIVE SUMMARY
This commercial property features a long-standing restaurant tenant on the main level with 5 residential apartments above, 4 of which are already rented (one vacant for immediate showing), providing immediate income. Additionally a storage unit is located on the second floor. Half of the parking spaces in the back are designated for the restaurant. Gross rental income in 2024 of $107,580. Located in a popular area near the University of Cincinnati, this property offers strong rental demand and high visibility. As-is sale.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$107,580
|
$11.97
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$107,580
|
$11.97
|
| Taxes |
$15,164
|
$1.69
|
| Operating Expenses |
$35,537
|
$3.95
|
| Total Expenses |
$50,701
|
$5.64
|
| Net Operating Income |
$56,879
|
$6.33
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $107,580 |
| Annual Per SF | $11.97 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $107,580 |
| Annual Per SF | $11.97 |
| Taxes | |
|---|---|
| Annual | $15,164 |
| Annual Per SF | $1.69 |
| Operating Expenses | |
|---|---|
| Annual | $35,537 |
| Annual Per SF | $3.95 |
| Total Expenses | |
|---|---|
| Annual | $50,701 |
| Annual Per SF | $5.64 |
| Net Operating Income | |
|---|---|
| Annual | $56,879 |
| Annual Per SF | $6.33 |
PROPERTY FACTS Under Contract
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- Controlled Access
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Smoke Detector
Walk Score®
Walker's Paradise (92)
PROPERTY TAXES
| Parcel Number | 100-0002-0402 | Total Assessment | $183,001 |
| Land Assessment | $20,461 | Annual Taxes | $15,164 ($1.69/SF) |
| Improvements Assessment | $162,540 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
100-0002-0402
Land Assessment
$20,461
Improvements Assessment
$162,540
Total Assessment
$183,001
Annual Taxes
$15,164 ($1.69/SF)
Tax Year
2024
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203 W McMillan St
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