Listed by Coldwell Banker West Shell West Chester
$434,900
5 Family in Cincinnati on Summit Road
Details
Property Type Multifamily
Sub Type Apartment Building, Duplex/Triplex/Quadruplex
Square Footage 2,798
Units 4
Cap Rate 9.77%
NOI $42,502
Tenancy Multi
Broker Co-Op True
Year Built 1942
Year Renovated 2021, 2022, 2023
Buildings 1
Stories 2
Acreage 0.134
Zoning 401 APARTMENT, 4-19 UNITS
Ownership Consumer
Sale Condition N/A
Multifamily | 5 Units
Marketing description
Exceptional opportunity to own a fully renovated, turnkey 5-unit multifamily property at 1589 Summit Rd! The property has four 1-bedroom units and one efficiency unit, generating $4,400/month in gross rent. Tenants pay all utilities except water and sewer, keeping expenses low. One unit is intentionally vacant for easy showings and immediate leasing potential. Smoke and pet-free building. Extensively renovated within the past 3 years, improvements include all new drywall, electrical, plumbing, windows, roof, gutters, individual furnaces, central A/C units, remodeled kitchens with updated appliances, and high-end marble and tile finishes throughout. The solid brick building has been meticulously maintained, with brickwork in excellent condition. Additional features include two sump pumps for added protection and a basement efficiency unit with two separate entrances/exits. Annual taxes are currently under $6k. A rare opportunity to acquire a low-maintenance, cash-flowing investment.
Investment highlights
- Turnkey, needs nothing.
- Extensive renovation throughout
- New Roof & Gutters
- New Drywall Throughout
- New Wiring Throughout
- New Plumbing Throughout
- New Flooring Throughout
- All new windows
- All new kitchens and appliances in all units
- All new bathrooms with high end Italian marble in all units
- Central A/C and gas furnaces for each unit
- Tenants cover all utilities except for water & sewer
- Gross income of $4,400 per/month
- Room to increase rents
Listing Contacts
Listed by Coldwell Banker West Shell West Chester
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$42,502.00
$3,541.83/mo
Valuation Metrics
0
DSCR
9.77%
Cap Rate
9.77%
ROI
Map
Zoning
RM-2.0-T ResidentialMulti FamilyResidential Multifamily Transportation Corridor
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View all 62 uses Last updated Jun 3, 2026 For deeper zoning details, reports are available at Zoneomics
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