1968 Berkley Ave
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1968 Berkley Ave
8 Unit Apartment Building $970,967 CAD ($121,371 CAD/Unit) 9.64% Cap Rate Cincinnati, OH 45237
Investment Highlights
- Garage Parking and additional basement Storage
- Spacious apartments with refinished Hardwood Floors
- Original Tile and Deep Tubs
- Original Built in Display Cabinetry
Executive Summary
*****!!!PRICE REDUCTION!!!**OWNER FINANCING TERMS REDUCED!!!!!** 30% down 5.5% interest
1968 Berkley Ave./5303 Rhode Island Ave., consists of 8 apartments located on the corner of the two streets. Two separate entrances on each street servicing 4 apartments. Well located property to the heart of Norwood, Xavier University and just two blocks north of the Norwood lateral. English Tudor architecture with solid masonry construction, refinished hardwood floors throughout make for very little maintenance. Lots of original charm has been preserved. Tenants pay ALL UTILITIES including house gas, electric, water, sewage and garbage. Additionally, each apt. is separately metered for gas and electric. Tenants pay heating costs!! There are 2 studios, 4 one bedroom one bath and 2 two bedroom one bath apartments. 7 garage parking places plus one additional off street parking places. No Section 8. Personally managed with clean, quite tenants and no vacancies. Coin op laundry and storage in basement. The exterior has been freshly painted and is maintenance free.
A video of each apt. can be viewed on YouTube by searching the property address and apt. #.
1968 Berkley Ave./5303 Rhode Island Ave., consists of 8 apartments located on the corner of the two streets. Two separate entrances on each street servicing 4 apartments. Well located property to the heart of Norwood, Xavier University and just two blocks north of the Norwood lateral. English Tudor architecture with solid masonry construction, refinished hardwood floors throughout make for very little maintenance. Lots of original charm has been preserved. Tenants pay ALL UTILITIES including house gas, electric, water, sewage and garbage. Additionally, each apt. is separately metered for gas and electric. Tenants pay heating costs!! There are 2 studios, 4 one bedroom one bath and 2 two bedroom one bath apartments. 7 garage parking places plus one additional off street parking places. No Section 8. Personally managed with clean, quite tenants and no vacancies. Coin op laundry and storage in basement. The exterior has been freshly painted and is maintenance free.
A video of each apt. can be viewed on YouTube by searching the property address and apt. #.
Data Room Click Here to Access
Financial Summary (Pro forma - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$123,830
|
$22.11
|
| Other Income |
$4,749
|
$0.85
|
| Vacancy Loss |
$6,192
|
$1.11
|
| Effective Gross Income |
$122,387
|
$21.85
|
| Taxes |
$9,076
|
$1.62
|
| Operating Expenses |
$19,723
|
$3.52
|
| Total Expenses |
$28,799
|
$5.14
|
| Net Operating Income |
$93,588
|
$16.71
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $123,830 |
| Annual Per SF | $22.11 |
| Other Income (CAD) | |
|---|---|
| Annual | $4,749 |
| Annual Per SF | $0.85 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $6,192 |
| Annual Per SF | $1.11 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $122,387 |
| Annual Per SF | $21.85 |
| Taxes (CAD) | |
|---|---|
| Annual | $9,076 |
| Annual Per SF | $1.62 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $19,723 |
| Annual Per SF | $3.52 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $28,799 |
| Annual Per SF | $5.14 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $93,588 |
| Annual Per SF | $16.71 |
Property Facts
| Price | $970,967 CAD | Building Class | C |
| Price Per Unit | $121,371 CAD | Lot Size | 0.23 AC |
| Sale Type | Investment | Building Size | 5,600 SF |
| Cap Rate | 9.64% | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1933/2005 |
| Property Subtype | Apartment | Parking Ratio | 1.25/1,000 SF |
| Apartment Style | Low Rise | Opportunity Zone |
Yes
|
| Price | $970,967 CAD |
| Price Per Unit | $121,371 CAD |
| Sale Type | Investment |
| Cap Rate | 9.64% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 5,600 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1933/2005 |
| Parking Ratio | 1.25/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- Cable Ready
- Storage Space
- Ceiling Fans
- Tile Floors
- Eat-in Kitchen
- Hardwood Floors
- Basement
- Breakfast Nook
- Dining Room
- Smoke Free
Site Amenities
- Laundry Facilities
- Gas Range
- Renters Insurance Program
- Smoke Free
- Trash Pickup - Curbside
- Bicycle Storage
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | - | 400 |
| 1+1 | 4 | - | 600 |
| 2+1 | 2 | - | 800 |
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PROPERTY TAXES
| Parcel Number | 131-0007-0096 | Total Assessment | $107,331 CAD (2023) |
| Land Assessment | $24,789 CAD (2023) | Annual Taxes | $9,076 CAD ($1.62 CAD/SF) |
| Improvements Assessment | $82,542 CAD (2023) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
131-0007-0096
Land Assessment
$24,789 CAD (2023)
Improvements Assessment
$82,542 CAD (2023)
Total Assessment
$107,331 CAD (2023)
Annual Taxes
$9,076 CAD ($1.62 CAD/SF)
Tax Year
2024
zoning
| Zoning Code | SF-2 (Zoning district is intended for moderate-density single-family residential use.) |
| SF-2 (Zoning district is intended for moderate-density single-family residential use.) |
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Tallarigo Properties
1968 Berkley Ave
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