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945 Dana Ave
Cincinnati, OH 45229
Multifamily Property For Sale
·
11 Units
Executive Summary
945 Dana Ave is a fully renovated 11-unit multifamily property sitting at $13,700 in current gross rents, featuring 8 two-bedroom units, 2 one-bedrooms, and 1 three-bedroom in Cincinnati's North Avondale neighborhood. Several units include flex dens that can be used as additional bedrooms, giving tenants flexibility and supporting stronger rents. The building was formerly the residence of Archbishop Henry Moeller of the Archdiocese of Cincinnati, giving it a history and character that stands apart from anything else in the market.
Current ownership approached this renovation with a meticulous attention to detail. Common areas feature marble floors, new lighting fixtures, and freshly painted interiors and exteriors throughout. Unit interiors have been fully updated with modern finishes, boiler heat and window AC units. RUBS is in place to help offset expenses and improve NOI. The property also includes approximately 20 on-site parking spots. The unit mix configurations position the property well for continued rent growth, and the basement presents a value-add opportunity to add an additional unit then further increase income.
Current ownership approached this renovation with a meticulous attention to detail. Common areas feature marble floors, new lighting fixtures, and freshly painted interiors and exteriors throughout. Unit interiors have been fully updated with modern finishes, boiler heat and window AC units. RUBS is in place to help offset expenses and improve NOI. The property also includes approximately 20 on-site parking spots. The unit mix configurations position the property well for continued rent growth, and the basement presents a value-add opportunity to add an additional unit then further increase income.
Property Facts
| Price Per Unit | $118,136 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.64 AC |
| Cap Rate | 7.50% | Building Size | 11,533 SF |
| No. Units | 11 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1900 |
| Property Subtype | Apartment | Parking Ratio | 0.91/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R-4, Cincinnati | ||
| Price Per Unit | $118,136 |
| Sale Type | Investment |
| Cap Rate | 7.50% |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.64 AC |
| Building Size | 11,533 SF |
| No. Stories | 3 |
| Year Built | 1900 |
| Parking Ratio | 0.91/1,000 SF |
| Zoning | R-4, Cincinnati |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Tub/Shower
- Smoke Free
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | 750 |
| 2+1 | 8 | - | 1,000 |
| 3+1 | 1 | - | 1,200 |
Property Taxes
| Parcel Number | 108-0005-0004 | Improvements Assessment | $161,840 |
| Land Assessment | $23,660 | Total Assessment | $185,500 |
Property Taxes
Parcel Number
108-0005-0004
Land Assessment
$23,660
Improvements Assessment
$161,840
Total Assessment
$185,500
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