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3331 Parkcrest Ln
Cincinnati, OH 45211
Multifamily Property For Sale
·
11 Units
Investment Highlights
- Well-maintained 11-unit asset with long-term ownership since 2011
- Major capital improvements recently completed, including a full flat-rubber roof replacement in 2026 and gas-fired central boiler replacement in 2025
- Clear rent-growth opportunity with average in-place rents of approximately $655 compared with nearby comparable rents of $750
- Located directly behind the Glenway Avenue retail corridor and within walking distance of Kroger, Target, Home Depot, and Planet Fitness
Executive Summary
Marcus & Millichap is pleased to present 3331 Parkcrest, an 11-unit multifamily investment opportunity located at 3331 Parkcrest Lane in Cincinnati, Ohio, within Hamilton County. Constructed in 1966, the all-brick property is located on a quiet residential lane in Cincinnati’s Westwood neighborhood. The asset features an all-studio unit mix consisting of ten approximately 400-square-foot units and one approximately 550-square-foot unit, along with off-street surface parking.
3331 Parkcrest is currently operating at 90.9% occupancy, with 10 of 11 units occupied as of August 10, 2026, and an average in-place rent of approximately $655. Seven residents renewed at $675 between March and May 2026 without any move-outs, while a nearby comparable property is achieving $750, providing a clear path to approximately $95 per unit in monthly rent growth. Eight of the 11 leases expire by May 2027, allowing a new owner to increase rents as leases roll. The property also benefits from a new flat-rubber roof installed in 2026, a gas-fired central boiler replaced in 2025, and walkable access to Kroger, Target, Home Depot, Planet Fitness, and the Glenway Avenue retail corridor. With West Side apartment occupancy of approximately 96.5% and limited competing supply under development, the property is well positioned for stable renter demand and continued income growth.
Deal vault link to view OM, RR and T12: https://www.marcusmillichap.com/properties/306871/3331-parkcrest
3331 Parkcrest is currently operating at 90.9% occupancy, with 10 of 11 units occupied as of August 10, 2026, and an average in-place rent of approximately $655. Seven residents renewed at $675 between March and May 2026 without any move-outs, while a nearby comparable property is achieving $750, providing a clear path to approximately $95 per unit in monthly rent growth. Eight of the 11 leases expire by May 2027, allowing a new owner to increase rents as leases roll. The property also benefits from a new flat-rubber roof installed in 2026, a gas-fired central boiler replaced in 2025, and walkable access to Kroger, Target, Home Depot, Planet Fitness, and the Glenway Avenue retail corridor. With West Side apartment occupancy of approximately 96.5% and limited competing supply under development, the property is well positioned for stable renter demand and continued income growth.
Deal vault link to view OM, RR and T12: https://www.marcusmillichap.com/properties/306871/3331-parkcrest
Property Facts
| Price Per Unit | $53,636 | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 7,000 SF |
| No. Units | 11 | Average Occupancy | 91% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1966 |
| Building Class | B | ||
| Zoning | RM12 | ||
| Price Per Unit | $53,636 |
| Sale Type | Investment |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 0.16 AC |
| Building Size | 7,000 SF |
| Average Occupancy | 91% |
| No. Stories | 3 |
| Year Built | 1966 |
| Zoning | RM12 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 11 | $675.00 | 400 |
Property Taxes
| Parcel Number | 212-0063-0001 | Improvements Assessment | $73,381 |
| Land Assessment | $29,645 | Total Assessment | $103,026 |
Property Taxes
Parcel Number
212-0063-0001
Land Assessment
$29,645
Improvements Assessment
$73,381
Total Assessment
$103,026
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