139 Clifton AveCincinnati, OH 45202

Property Details for 139 Clifton Ave

Property size (Sq ft)

16,325 SF

Property type

Apartment buildings

Description

This exceptional investment opportunity presents a portfolio of three renovated apartment buildings totaling 26 units in Cincinnati's vibrant Over-the-Rhine neighborhood. The property boasts 16,325 square feet across three stories, currently operating at 89% occupancy. Each of the 26 units received individual tax identification numbers, allowing for potential future condo conversion. Extensive renovations completed in 2023, exceeding $2.4 million, encompass flooring, electrical, plumbing, HVAC, kitchens, appliances, and bathrooms. Located near Findlay Market, the University of Cincinnati, and major hospital systems, this portfolio benefits from a 94 Walk Score and a prime location within a trendy, walkable area. Each unit received a 10-year tax abatement (up to $275,000 market improvement value). Significant upside potential exists through concession burn-off and the ability to increase rents, given that market rents at comparable properties average $155-$700 per month higher than current asking rents. The property is offered free and clear of existing debt, with financing options available. The permitted zoning is RM. This core+ investment is an excellent opportunity for discerning investors seeking a high-performing asset in a rapidly appreciating market.

Location Insight

City

Cincinnati

County

Hamilton

State

Ohio

Latitude

39.1155

Longitude

-84.5142

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