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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.

Data Room Click Here to Access

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
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 -
Walk Score ®
Very Walkable (73)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

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.)
  • Listing ID: 31471967

  • Date on Market: 4/10/2024

  • Last Updated:

  • Address: 2813 Ashland Ave, Cincinnati, OH 45206

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