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6011 Madison Rd 7 Unit Apartment Building $2,950,000 ($421,429/Unit) 7.47% Cap Rate Cincinnati, OH 45227
Executive Summary
Completely gutted in 2022, remodeled with a new addition in 2023 and 2024. Commercial Tenant, Dance Factory Fitness, is on the 1st floor with great financials. Has several years and options left on their lease with 2% annual increases. The 2nd and 3rd floor are brand new apartments with high end amenities and over 1000/SF each with a dedicated parking spot, with a total of 12 Parking spots for the building. Located in the heart of Madisonville with many new shops and restaurants moving in/announced. Surrounded by many high-end neighborhoods in Cincinnati. Building has a LEED Silver 15 year CRA Tax Abatement. Building is located in the Qualified Opportunity Zone and eligible for this program.
Property Facts
| Price | $2,950,000 | Apartment Style | Low-Rise |
| Price Per Unit | $421,429 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.18 AC |
| Cap Rate | 7.47% | Building Size | 16,080 SF |
| No. Units | 7 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1925 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | Form Based Code | ||
| Price | $2,950,000 |
| Price Per Unit | $421,429 |
| Sale Type | Investment |
| Cap Rate | 7.47% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 16,080 SF |
| No. Stories | 3 |
| Year Built | 1925 |
| Opportunity Zone |
Yes |
| Zoning | Form Based Code |
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 036-0003-0110 | Improvements Assessment | $424,953 |
| Land Assessment | $11,116 | Total Assessment | $436,069 |
Property Taxes
Parcel Number
036-0003-0110
Land Assessment
$11,116
Improvements Assessment
$424,953
Total Assessment
$436,069
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Presented by
Dawaher, Jiries T.
6011 Madison Rd
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