424 Liberty Hill is a rare opportunity to buy a profitable property with no deferred maintenance in a rapidly appreciating area. 424 Liberty Hill is a corporate and vacation rental housing complex located in Over the Rhine, one of Cincinnati's fastest-growing, walkable downtown neighborhoods. The property has a rare combination of attributes that make it uniquely attractive: i) high profitability; ii) a rarely-found five off-street parking spaces onsite; iii) soaring city views; iv) it is tucked away in one of the city's most popular and walkable neighborhoods in the downtown market. To the best of our knowledge and belief, it is the most profitable building of its size in Cincinnati. Owner is willing to continue managing property after sale for a negotiable fee.
The property is centrally located. It is less than 5-minute walk to several of Cincinnati's most popular destinations: Historic Main Street, Ziegler Park, the Woodward Theater, and the Pendleton Arts District. It is less than a 10-minute walk to a number of entertainment district amenities: Music Hall, Memorial Hall, the Vine Street Entertainment Corridor, Washington Park, and Findlay Market. Additionally it is only a 6-minute drive to the University of Cincinnati, the Aronoff Center, 1 mile from Fountain Square, 1.2 miles to Great American Ballpark and Paul Brown Stadium. In addition, the only major urban grocer opened a half mile away in September, 2019.
At a 10.3% cap rate, the property is listed below value. If listed at the area's standard 7.5% cap rate the building would be worth more than $1.3MM. Owner willing to continue managing the property for a negotiable fee.
