2346 BOONE ST CINCINNATI OH 45206
100% 14 Unit (2 Bed/1 Bath) Multi-family in Walnut Hills near the University of Cincinnati
Marketing description
- Complete Gut Renovation - Professional conversion completed 2022-2023
- Tenant-Paid Utilities - Individual electric and gas meters reduce landlord expenses
- Modern Building Systems - New HVAC, security, and building access controls
- Additional Development Potential - Adjacent parking lot available for purchase separately
- CRA Abatement through 2030
- 100% Occupancy
- Close Proximity to the University of Cincinnati, Downtown Cincinnati and Xavier University
- Walnut Hills Has Seen over $100M+ in Real Estate Development Projects in Recent Years
Investment highlights
2346 Boone Street is a fully renovated, 100% occupied 14-unit multifamily building in Cincinnati's Walnut Hills submarket. The property underwent a complete gut renovation in 2022–2023, with new HVAC, security, and access control systems installed throughout. Units are individually metered for electric and gas, and the property carries a CRA tax abatement through 2030, holding the assessed value at $324,290 against a $536,650 full assessment. The asset produces $158,520 in NOI, reflecting a 6.1% cap rate at the $2,600,000 asking price.
The building sits minutes from Downtown Cincinnati, the University of Cincinnati, and Xavier University, in a submarket that has seen more than $100M in redevelopment activity in recent years. An adjacent parking lot is available for separate purchase, adding further upside potential to the site.
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