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7508 Elizabeth St 5 Unit Apartment Building $345,000 ($69,000/Unit) 8.27% Cap Rate Cincinnati, OH 45231
Investment Highlights
- Cap Rate - 8.27%
- Total SqFt: 3,370 SqFt
- Fully Occupied
- Mount Healthy submarket
Executive Summary
3CRE is pleased to present the Elizabeth Street Apartments for sale, a well-maintained 5-unit multifamily property consisting of one 2-bedroom, 1-bath unit and four 1-bedroom, 1-bath units. Each unit has separately metered electric, with tenants responsible for electric, gas, and heat, while the landlord covers water and trash. Recently the landlord has implemented a water fee and recoup the water expense. Major upgrades include the installation of five high-efficiency furnaces and insulated vinyl windows in 2020, three new water heaters in 2019 and 2020, and a new roof within the last ten years. The property also features a full basement with individual storage bays for each unit, and new coin-operated washer and dryer machines in the basement. All units have been fully renovated with updated flooring, kitchens, countertops, bathrooms, and decks. This offering presents a strong in-place cash flow with the opportunity to increase value through continued rent growth.
Property Facts
| Price | $345,000 | Apartment Style | Low-Rise |
| Price Per Unit | $69,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 8.27% | Building Size | 3,370 SF |
| No. Units | 5 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built | 1900 |
| Zoning | Commercial | ||
| Price | $345,000 |
| Price Per Unit | $69,000 |
| Sale Type | Investment |
| Cap Rate | 8.27% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 3,370 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1900 |
| Zoning | Commercial |
Amenities
Unit Amenities
- Heating
- Eat-in Kitchen
- Refrigerator
- Oven
- Vinyl Flooring
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
| 2+1 | 1 | - | - |
1 1
Walk Score®
Very Walkable (72)
Property Taxes
| Parcel Number | 593-0008-0332 | Improvements Assessment | $62,794 |
| Land Assessment | $12,600 | Total Assessment | $75,394 |
Property Taxes
Parcel Number
593-0008-0332
Land Assessment
$12,600
Improvements Assessment
$62,794
Total Assessment
$75,394
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7508 Elizabeth St
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