Walnut Hills Duplex - Rehab Opportunity | 2813 Ashland Ave
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Walnut Hills Duplex - Rehab Opportunity 2813 Ashland Ave
2 Unit Apartment Building $224,900 ($112,450/Unit) 8.16% Cap Rate Cincinnati, OH 45206
Investment Highlights
- Duplex Home - The only property on the street that has not been renovated
- Desirable Walnut Hills location
- Part of a 5 building / 12 unit portfolio, can be sold separately or together
- Excellent unit mix - possible owner user
- ARV - $450,000+
- TIF Abatement until 2032
Executive Summary
Jennifer M. Donathan of KW Commercial is pleased to present a prime investment opportunity in Walnut Hills.. The property at 2813 Ashland Ave, Cincinnati, OH, 45206 features 1,845 SF, boasting 2 units and a rich historical heritage dating back to its 1910 construction. Zoned RM-1.2, this property offers a flexible canvas for potential development or renovation, providing an ideal environment for multifamily living. With its coveted location, this property presents an attractive investment prospect in the thriving Southwest Ohio real estate market. 2813 Ashland is the only building on the street that has not been renovated. Both buildings to the left of the 2813 have been recently rehabbed with high end finishes and one resold for $421,500 in 2023 and the condo conversion building to the left sold 2/2 bath condo units at an average of $250,000 in 2021. The units are occupied. This property is part of a 4 property, 9 unit portfolio that can be sold separate or together.
Discover the vibrant Southwest Ohio market surrounding the property at 2813 Ashland Ave, Cincinnati, OH, 45206. Nestled in the heart of Cincinnati, this area offers a dynamic mix of commercial and cultural attractions, with a bustling business district and a thriving arts scene. Nearby points of interest include the Cincinnati Art Museum, Eden Park, and the Cincinnati Zoo & Botanical Garden, providing ample opportunities for work-life balance and client entertainment. With easy access to major highways and public transportation, the location offers convenience for both employees and visitors. Explore the endless potential of this prime investment opportunity in the Southwest Ohio market.
Discover the vibrant Southwest Ohio market surrounding the property at 2813 Ashland Ave, Cincinnati, OH, 45206. Nestled in the heart of Cincinnati, this area offers a dynamic mix of commercial and cultural attractions, with a bustling business district and a thriving arts scene. Nearby points of interest include the Cincinnati Art Museum, Eden Park, and the Cincinnati Zoo & Botanical Garden, providing ample opportunities for work-life balance and client entertainment. With easy access to major highways and public transportation, the location offers convenience for both employees and visitors. Explore the endless potential of this prime investment opportunity in the Southwest Ohio market.
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
---|---|---|
Gross Rental Income | $27,468 | $14.89 |
Other Income | - | - |
Vacancy Loss | - | - |
Effective Gross Income | $27,468 | $14.89 |
Taxes | $1,502 | $0.81 |
Operating Expenses | $3,089 | $1.67 |
Total Expenses | $4,591 | $2.49 |
Net Operating Income | $22,877 | $12.40 |
Financial Summary (Actual - 2023)
Gross Rental Income | |
---|---|
Annual | $27,468 |
Annual Per SF | $14.89 |
Other Income | |
---|---|
Annual | - |
Annual Per SF | - |
Vacancy Loss | |
---|---|
Annual | - |
Annual Per SF | - |
Effective Gross Income | |
---|---|
Annual | $27,468 |
Annual Per SF | $14.89 |
Taxes | |
---|---|
Annual | $1,502 |
Annual Per SF | $0.81 |
Operating Expenses | |
---|---|
Annual | $3,089 |
Annual Per SF | $1.67 |
Total Expenses | |
---|---|
Annual | $4,591 |
Annual Per SF | $2.49 |
Net Operating Income | |
---|---|
Annual | $22,877 |
Annual Per SF | $12.40 |
Property Facts
Price | $224,900 | Apartment Style | Garden |
Price Per Unit | $112,450 | Building Class | C |
Sale Type | Investment | Lot Size | 0.06 AC |
Cap Rate | 8.16% | Building Size | 1,845 SF |
No. Units | 2 | Average Occupancy | 100% |
Property Type | Multifamily | No. Stories | 2 |
Property Subtype | Apartment | Year Built | 1910 |
Price | $224,900 |
Price Per Unit | $112,450 |
Sale Type | Investment |
Cap Rate | 8.16% |
No. Units | 2 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Garden |
Building Class | C |
Lot Size | 0.06 AC |
Building Size | 1,845 SF |
Average Occupancy | 100% |
No. Stories | 2 |
Year Built | 1910 |
Unit Mix Information
Description | No. Units | Avg. Rent/Mo | SF |
---|---|---|---|
2+1 | 1 | $1,050 | - |
3+1 | 1 | $1,239 | - |
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Walk Score ®
Very Walkable (73)
PROPERTY TAXES
Parcel Number | 061-0002-0054 | Total Assessment | $38,738 |
Land Assessment | $4,018 | Annual Taxes | $1,502 ($0.81/SF) |
Improvements Assessment | $34,720 | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
061-0002-0054
Land Assessment
$4,018
Improvements Assessment
$34,720
Total Assessment
$38,738
Annual Taxes
$1,502 ($0.81/SF)
Tax Year
2023
zoning
Zoning Code | RM12 (Zoning district is designed to accommodate a variety of residential housing types, including single-family homes, duplexes, triplexes, and fourplexes.) |
RM12 (Zoning district is designed to accommodate a variety of residential housing types, including single-family homes, duplexes, triplexes, and fourplexes.) |
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Walnut Hills Duplex - Rehab Opportunity | 2813 Ashland Ave
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