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Gated 9-Unit Apartment Community 2244 Salvador St 9 Unit Apartment Building $810,000 ($90,000/Unit) 8.50% Cap Rate Cincinnati, OH 45230
Executive Summary
2244 Salvador Street is a 9-unit turnkey multifamily property offered at an 8.5% cap rate, located in Cincinnati's established Mt. Washington neighborhood. The property features eight one-bedroom apartments and one studio, with one current vacancy. At 100% occupancy, monthly rents total $8,864, with RUBS implemented and charged back to tenants, reducing owner utility cost.
Each unit is equipped with PTAC heating and cooling systems, with electric paid directly by tenants, keeping operational costs lean. The building features secure gated access and nine on-site parking spaces, amenities that support tenant retention and occupancy.
Situated near retail, dining, and major commuter routes, 2244 Salvador Street benefits from Mt. Washington's strong rental demand and historically low vacancy. This opportunity offers investors a stabilized asset in one of Cincinnati's most consistent East Side submarkets.
Each unit is equipped with PTAC heating and cooling systems, with electric paid directly by tenants, keeping operational costs lean. The building features secure gated access and nine on-site parking spaces, amenities that support tenant retention and occupancy.
Situated near retail, dining, and major commuter routes, 2244 Salvador Street benefits from Mt. Washington's strong rental demand and historically low vacancy. This opportunity offers investors a stabilized asset in one of Cincinnati's most consistent East Side submarkets.
Property Facts
| Price | $810,000 | Building Class | C |
| Price Per Unit | $90,000 | Lot Size | 0.30 AC |
| Sale Type | Investment | Building Size | 4,274 SF |
| Cap Rate | 8.50% | No. Stories | 1 |
| No. Units | 9 | Year Built | 1986 |
| Property Type | Multifamily | Parking Ratio | 0.78/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | RM 1.2 - Designed for multi-family housing, such as apartments, townhouses, and sometimes duplexes, allowing higher density than single-family zones. | ||
| Price | $810,000 |
| Price Per Unit | $90,000 |
| Sale Type | Investment |
| Cap Rate | 8.50% |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.30 AC |
| Building Size | 4,274 SF |
| No. Stories | 1 |
| Year Built | 1986 |
| Parking Ratio | 0.78/1,000 SF |
| Zoning | RM 1.2 - Designed for multi-family housing, such as apartments, townhouses, and sometimes duplexes, allowing higher density than single-family zones. |
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Fairly walkable
50/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 001-0002-0149 | Improvements Assessment | $86,713 |
| Land Assessment | $18,900 | Total Assessment | $105,613 |
Property Taxes
Parcel Number
001-0002-0149
Land Assessment
$18,900
Improvements Assessment
$86,713
Total Assessment
$105,613
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Gated 9-Unit Apartment Community | 2244 Salvador St
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