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Belmont Apartments 5928 Belmont Ave 32 Unit Apartment Building $3,100,000 ($96,875/Unit) 8.44% Cap Rate Cincinnati, OH 45224
Investment Highlights
- Family owned and operated for 23 years
- Well maintained, secure 4 unit brick buildings, low vacancy
- Beautiful, vibrant neighborhood and park-like setting
Executive Summary
We are pleased to announce the listing of the beautiful, well maintained 32 unit multi-family apartment complex in the vibrant College Hill area that has been under our family's care for the last 23 years. With an historically high occupancy rate and gorgeous location surrounded by lovely homes and mansions, this will make a fantastic asset for any buyer. We are also pleased to offer a 2.5% commission to either buyer's agent or agent who brings a successful buyer to closing. This property is For Sale By Owner. We are looking to "retire" after 26 years in the industry. Call or text Lisa at 513-541-8687 or email Lisa@apartmenthome.info and i will send you our Profit and Loss/T12 or set up a showing of common areas or any vacants.
Property Facts In Escrow
| Price | $3,100,000 | Apartment Style | Garden |
| Price Per Unit | $96,875 | Building Class | C |
| Sale Type | Investment | Lot Size | 2.12 AC |
| Cap Rate | 8.44% | Building Size | 18,222 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 95% |
| Gross Rent Multiplier | 7.44 | No. Stories | 2 |
| No. Units | 32 | Year Built | 1952 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | R-4, Cincinnati | ||
| Price | $3,100,000 |
| Price Per Unit | $96,875 |
| Sale Type | Investment |
| Cap Rate | 8.44% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 7.44 |
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.12 AC |
| Building Size | 18,222 SF |
| Average Occupancy | 95% |
| No. Stories | 2 |
| Year Built | 1952 |
| Opportunity Zone |
Yes |
| Zoning | R-4, Cincinnati |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Refrigerator
- Oven
- Range
Site Amenities
- Laundry Facilities
- Laundry Service
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 24 | $950.00 | 600 |
| 3+1 | 8 | $1,500 | 1,050 |
1 1
Fairly walkable
50/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 229-0003-0009 | Improvements Assessment | $360,875 |
| Land Assessment | $70,560 | Total Assessment | $431,435 |
Property Taxes
Parcel Number
229-0003-0009
Land Assessment
$70,560
Improvements Assessment
$360,875
Total Assessment
$431,435
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Presented by
Everingham Properties
Belmont Apartments | 5928 Belmont Ave
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