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Salvador Point 2301 Salvador St 20 Unit Apartment Building $2,000,000 ($100,000/Unit) 8.64% Cap Rate Cincinnati, OH 45230
Executive Summary
Stabilized 6-Unit Asset in Strong East Cincinnati Submarket
2301 Salvador Street is a 20-unit multifamily property located in Cincinnati's Mt. Washington
neighborhood, offered at an 8.64% cap rate. The property consists of 14 two-beds and 6 one-bed
units, with 19 of 20 units currently occupied. At full occupancy, the property produces strong
stabilized rental income supported by a consistent tenant base. With strong in-place cash flow and
proven occupancy, the asset delivers immediate returns from day one.
The property features include boiler heat, through-the-wall air conditioning, separately metered
electric, and an implemented RUBS program to help offset utility expenses. An electronic lock system
is installed throughout the property, and residents benefit from an off-street parking lot with
approximately 30 spaces.
With a strong rental history, desirable unit mix, and efficient operations, 2301 Salvador Street
offers investors a stable multifamily asset in a well-established East Side submarket.
2301 Salvador Street is a 20-unit multifamily property located in Cincinnati's Mt. Washington
neighborhood, offered at an 8.64% cap rate. The property consists of 14 two-beds and 6 one-bed
units, with 19 of 20 units currently occupied. At full occupancy, the property produces strong
stabilized rental income supported by a consistent tenant base. With strong in-place cash flow and
proven occupancy, the asset delivers immediate returns from day one.
The property features include boiler heat, through-the-wall air conditioning, separately metered
electric, and an implemented RUBS program to help offset utility expenses. An electronic lock system
is installed throughout the property, and residents benefit from an off-street parking lot with
approximately 30 spaces.
With a strong rental history, desirable unit mix, and efficient operations, 2301 Salvador Street
offers investors a stable multifamily asset in a well-established East Side submarket.
Property Facts Under Contract
| Price | $2,000,000 | Apartment Style | Low-Rise |
| Price Per Unit | $100,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.46 AC |
| Cap Rate | 8.64% | Building Size | 16,602 SF |
| No. Units | 20 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1966 |
| Property Subtype | Apartment | Parking Ratio | 1.81/1,000 SF |
| Zoning | RM-1.2, Cincinatti | ||
| Price | $2,000,000 |
| Price Per Unit | $100,000 |
| Sale Type | Investment |
| Cap Rate | 8.64% |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.46 AC |
| Building Size | 16,602 SF |
| No. Stories | 3 |
| Year Built | 1966 |
| Parking Ratio | 1.81/1,000 SF |
| Zoning | RM-1.2, Cincinatti |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- 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 | 6 | - | 600 |
| 2+1 | 14 | - | 800 |
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Fairly walkable
40/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 001-0005-0044 | Improvements Assessment | $159,653 |
| Land Assessment | $42,000 | Total Assessment | $201,653 |
Property Taxes
Parcel Number
001-0005-0044
Land Assessment
$42,000
Improvements Assessment
$159,653
Total Assessment
$201,653
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Contact the Sale Advisor
Salvador Point | 2301 Salvador St