Listed by 3CRE Columbus, Coldwell Banker Commercial
$1,175,000
1226 Rutledge Ave
Details
APN 179-0077-0258-00
Property Type Multifamily
Sub Type Apartment Building, Apartment/Condo
Square Footage 10,254
Units 13
Cap Rate 7.20%
NOI $85,495
Occupancy 94.6%
Class C
Year Built 1925
Year Renovated 2020
Buildings 1
Stories 3
Acreage 0.300
Multifamily | 13 Units | $90,385/unit
Marketing description
This well-maintained property consists of 13 units, featuring one, one-bedroom and twelve, two-bedroom units. Each tenant also has their own separate storage. The property is situated in the West Price Hill neighborhood of Cincinnati, a residential area known for its affordability, community feel, and proximity to downtown. Just four miles from the city center, the location offers convenient access to major roadways, public transportation, and everyday amenities. Residents benefit from nearby retail centers like Glenway Crossing, as well as outdoor recreation at Rapid Run Park and Mount Echo Park. The area has a strong rental base, with consistent demand for affordable and Section 8 housing. This neighborhood combines accessibility, stability, and growth potentialmaking it an ideal setting for long-term multifamily investment. 65% of rents guaranteed!
Investment highlights
- Property Utilities: Currently Covered by Landlord
- Rubs: ratio utility Billing system: Landlord water reimbursement
- Fair market rents: Public housing authority
- 65% guaranteed rent: Subsidized rental amount
- Submarket occupancy: 94.68%
- Well-maintained property: Same ownership since 2006
Listing Contacts
Listed by 3CRE Columbus, Coldwell Banker Commercial
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$85,495.00
$7,124.58/mo
Valuation Metrics
0
DSCR
7.28%
Cap Rate
7.28%
ROI
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