2162 Stratford Ave
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2162 Stratford Ave
9 Unit Apartment Building $825,000 ($91,667/Unit) 6.20% Cap Rate Cincinnati, OH 45219
Investment Highlights
- Close to UC Campus
- Convenient one bedrooms and studios - easy to rent!
Executive Summary
Fully-rented, income-producing rental property in ideal proximity to UC, downtown and hospitals! Highly desirable studios and one bedrooms - easy to rent. Six of the nine units have been renovated by current owner - all units in great condition. Very well-maintained property. Produces $80,000+ gross (approx. $50,000+ net) annually. The perfect investment opportunity you've been waiting for! Can be sold individually or as a package with 258 Warner St. & 2334 W. Clifton Ave.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$80,580
|
$13.25
|
| Other Income |
$1,008
|
$0.17
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$81,588
|
$13.41
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$30,457
|
$5.01
|
| Net Operating Income |
$51,131
|
$8.41
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $80,580 |
| Annual Per SF | $13.25 |
| Other Income | |
|---|---|
| Annual | $1,008 |
| Annual Per SF | $0.17 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $81,588 |
| Annual Per SF | $13.41 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $30,457 |
| Annual Per SF | $5.01 |
| Net Operating Income | |
|---|---|
| Annual | $51,131 |
| Annual Per SF | $8.41 |
Property Facts
| Price | $825,000 | Apartment Style | Mid Rise |
| Price Per Unit | $91,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 6.20% | Building Size | 6,083 SF |
| Sale Conditions | Bulk/Portfolio Sale | Average Occupancy | 91% |
| No. Units | 9 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1885 |
| Property Subtype | Apartment |
| Price | $825,000 |
| Price Per Unit | $91,667 |
| Sale Type | Investment |
| Cap Rate | 6.20% |
| Sale Conditions | Bulk/Portfolio Sale |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 6,083 SF |
| Average Occupancy | 91% |
| No. Stories | 4 |
| Year Built | 1885 |
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Oven
- Range
Site Amenities
- 24 Hour Access
- Controlled Access
- Public Transportation
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 9 | - | 400 - 1,000 |
1 of 1
Walk Score ®
Very Walkable (82)
PROPERTY TAXES
| Parcel Number | 096-0002-0293 | Improvements Assessment | $68,222 |
| Land Assessment | $4,914 | Total Assessment | $73,136 |
PROPERTY TAXES
Parcel Number
096-0002-0293
Land Assessment
$4,914
Improvements Assessment
$68,222
Total Assessment
$73,136
zoning
| Zoning Code | R3 (Designed to accommodate a mix of housing types at a moderate density.) |
| R3 (Designed to accommodate a mix of housing types at a moderate density.) |
-
Daniel Braun -
Comey & Shepherd
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