5208 Globe Ave
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5208 Globe Ave
3 Unit Apartment Building $224,900 ($74,967/Unit) 4.30% Cap Rate Cincinnati, OH 45212
Investment Highlights
- Triplex - ARV of $300,000+
- Desirable Norwood location
- Part of a portfolio of 4 buildings / 9 units, can be sold separately or together
- Value add opportunity - below market rents
Executive Summary
Value add triplex, 1 one bedroom and 2 studio apartments. Rents are $650, $800 and $500. Owner pays heat and water. Tenants pay electric. All brick exterior with pitched roof. Parking is on street. Window units for cooling. Gross income is $23,400/annually. Tenants month to month. Part of a portfolio of 4 properties and 9 units total, can be sold together or separate.
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$23,400
|
$15.19
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$23,400
|
$15.19
|
| Taxes |
$2,277
|
$1.48
|
| Operating Expenses |
$11,597
|
$7.53
|
| Total Expenses |
$13,874
|
$9.01
|
| Net Operating Income |
$9,526
|
$6.19
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $23,400 |
| Annual Per SF | $15.19 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $23,400 |
| Annual Per SF | $15.19 |
| Taxes | |
|---|---|
| Annual | $2,277 |
| Annual Per SF | $1.48 |
| Operating Expenses | |
|---|---|
| Annual | $11,597 |
| Annual Per SF | $7.53 |
| Total Expenses | |
|---|---|
| Annual | $13,874 |
| Annual Per SF | $9.01 |
| Net Operating Income | |
|---|---|
| Annual | $9,526 |
| Annual Per SF | $6.19 |
Property Facts
| Price | $224,900 | Building Class | C |
| Price Per Unit | $74,967 | Lot Size | 0.05 AC |
| Sale Type | Investment | Building Size | 1,540 SF |
| Cap Rate | 4.30% | Average Occupancy | 100% |
| No. Units | 3 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1918 |
| Property Subtype | Apartment |
| Price | $224,900 |
| Price Per Unit | $74,967 |
| Sale Type | Investment |
| Cap Rate | 4.30% |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.05 AC |
| Building Size | 1,540 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1918 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 3 | $650.00 | 23,400 |
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PROPERTY TAXES
| Parcel Number | 651-0008-0017 | Total Assessment | $39,218 (2023) |
| Land Assessment | $8,075 (2023) | Annual Taxes | $2,277 ($1.48/SF) |
| Improvements Assessment | $31,143 (2023) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
651-0008-0017
Land Assessment
$8,075 (2023)
Improvements Assessment
$31,143 (2023)
Total Assessment
$39,218 (2023)
Annual Taxes
$2,277 ($1.48/SF)
Tax Year
2024
zoning
| Zoning Code | R1 (Intended to create low-density residential neighborhoods.) |
| R1 (Intended to create low-density residential neighborhoods.) |
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5208 Globe Ave
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