5132-5136 Montgomery Rd
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5132-5136 Montgomery Rd
19 Unit Apartment Building $1,695,000 ($89,211/Unit) 11.86% Cap Rate Cincinnati, OH 45212
Investment Highlights
- Great Location, walk to all necessities. On bus line and close to interstate.
- Separately metered w individual gas forced air furnaces.
- Very low maintenance requirements with masonry construction and small yard.
- New EPDM rubber roof.
- Refinished hardwood floors, NO carpet!
- Newer windows, kitchens, and baths.
Executive Summary
PRICE REDUCTION ****SELLER FINANCING AVAILABLE!!!**** 30% down, 6% interest for 5 years amortized over 30 years.
Strategically located, 19 spacious apartments located in the heart of Norwood with off street parking two blocks from the Norwood lateral. Boasting an attractive apartment mix of; 1 one bedroom, 13 two bedrooms, and 5 three bedrooms. All with one bathroom. Walk to restaurants, stores and more. Directly on public transportation line. Recently resurfaced driveway and parking area. New EPDM rubber roof installed February 2024. Individually metered gas forced air furnaces! Refinished hardwood floors. Lots of new windows. Renovated kitchens and bathrooms. Coin op laundry and storage in the basements. Newer water heaters. New electric distribution panels. Tenants pay ALL utilities including water, sewage, garbage and HOUSE gas and electric!! Very low overhead. Easily maintained property. Solid brick construction. Very little yard work with a large courtyard filled with beautiful flowering pear trees. A well maintained, income producing property with a long term resident base creating value add and increased income opportunities. Additional income can also be derived by allocating reserved off street parking, garages and storage.
A video of each apt. can be viewed on YouTube by searching the property address and apt. #.
Strategically located, 19 spacious apartments located in the heart of Norwood with off street parking two blocks from the Norwood lateral. Boasting an attractive apartment mix of; 1 one bedroom, 13 two bedrooms, and 5 three bedrooms. All with one bathroom. Walk to restaurants, stores and more. Directly on public transportation line. Recently resurfaced driveway and parking area. New EPDM rubber roof installed February 2024. Individually metered gas forced air furnaces! Refinished hardwood floors. Lots of new windows. Renovated kitchens and bathrooms. Coin op laundry and storage in the basements. Newer water heaters. New electric distribution panels. Tenants pay ALL utilities including water, sewage, garbage and HOUSE gas and electric!! Very low overhead. Easily maintained property. Solid brick construction. Very little yard work with a large courtyard filled with beautiful flowering pear trees. A well maintained, income producing property with a long term resident base creating value add and increased income opportunities. Additional income can also be derived by allocating reserved off street parking, garages and storage.
A video of each apt. can be viewed on YouTube by searching the property address and apt. #.
Data Room Click Here to Access
- Operating and Financials
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$200,000
|
$13.33
|
| Other Income |
$9,000
|
$0.60
|
| Vacancy Loss |
$10,000
|
$0.67
|
| Effective Gross Income |
$199,000
|
$13.27
|
| Taxes |
$19,977
|
$1.33
|
| Operating Expenses |
$22,000
|
$1.47
|
| Total Expenses |
$41,977
|
$2.80
|
| Net Operating Income |
$157,023
|
$10.47
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $200,000 |
| Annual Per SF | $13.33 |
| Other Income | |
|---|---|
| Annual | $9,000 |
| Annual Per SF | $0.60 |
| Vacancy Loss | |
|---|---|
| Annual | $10,000 |
| Annual Per SF | $0.67 |
| Effective Gross Income | |
|---|---|
| Annual | $199,000 |
| Annual Per SF | $13.27 |
| Taxes | |
|---|---|
| Annual | $19,977 |
| Annual Per SF | $1.33 |
| Operating Expenses | |
|---|---|
| Annual | $22,000 |
| Annual Per SF | $1.47 |
| Total Expenses | |
|---|---|
| Annual | $41,977 |
| Annual Per SF | $2.80 |
| Net Operating Income | |
|---|---|
| Annual | $157,023 |
| Annual Per SF | $10.47 |
Property Facts
| Price | $1,695,000 | Building Class | C |
| Price Per Unit | $89,211 | Lot Size | 0.27 AC |
| Sale Type | Investment | Building Size | 15,000 SF |
| Cap Rate | 11.86% | Average Occupancy | 95% |
| No. Units | 19 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1929/2024 |
| Property Subtype | Apartment | Parking Ratio | 1/1,000 SF |
| Apartment Style | Low Rise |
| Price | $1,695,000 |
| Price Per Unit | $89,211 |
| Sale Type | Investment |
| Cap Rate | 11.86% |
| No. Units | 19 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.27 AC |
| Building Size | 15,000 SF |
| Average Occupancy | 95% |
| No. Stories | 3 |
| Year Built/Renovated | 1929/2024 |
| Parking Ratio | 1/1,000 SF |
Unit Amenities
- Storage Space
- Tile Floors
- Hardwood Floors
- Tub/Shower
- Basement
- Double Pane Windows
Site Amenities
- Courtyard
- Laundry Facilities
- Gas Range
- Smoke Free
- Storage Space
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 13 | $1,085 | 800 |
| 3+1 | 5 | $1,385 | 1,000 |
| 1+1 | 1 | $685.00 | 500 |
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PROPERTY TAXES
| Parcel Numbers | Total Assessment | $287,942 (2023) | |
| Land Assessment | $47,912 (2023) | Annual Taxes | $19,977 ($1.33/SF) |
| Improvements Assessment | $240,030 (2023) | Tax Year | 2024 Payable 2024 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$47,912 (2023)
Improvements Assessment
$240,030 (2023)
Total Assessment
$287,942 (2023)
Annual Taxes
$19,977 ($1.33/SF)
Tax Year
2024 Payable 2024
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5132-5136 Montgomery Rd
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