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203 W McMillan St 6 Unit Apartment Building $1,135,934 CAD ($189,322 CAD/Unit) 6.89% Cap Rate Cincinnati, OH 45219
INVESTMENT HIGHLIGHTS
- Five apartments with great rental history sit above a longstanding restaurant (tenant) just a block from University of Cincinnati
- Just steps away from Metro Bus stop
- Designated parking for the restaurant in the rear of the buidling
EXECUTIVE SUMMARY
This commercial property features a long-standing restaurant tenant on the main level with 5 residential apartments above, 4 of which are already rented (one vacant for immediate showing), providing immediate income. Additionally a storage unit is located on the second floor. Half of the parking spaces in the back are designated for the restaurant. Gross rental income in 2024 of $107,580. Located in a popular area near the University of Cincinnati, this property offers strong rental demand and high visibility. As-is sale.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$148,126
|
$16.48
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$148,126
|
$16.48
|
| Taxes |
$20,879
|
$2.32
|
| Operating Expenses |
$48,931
|
$5.44
|
| Total Expenses |
$69,810
|
$7.77
|
| Net Operating Income |
$78,316
|
$8.71
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $148,126 |
| Annual Per SF | $16.48 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $148,126 |
| Annual Per SF | $16.48 |
| Taxes (CAD) | |
|---|---|
| Annual | $20,879 |
| Annual Per SF | $2.32 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $48,931 |
| Annual Per SF | $5.44 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $69,810 |
| Annual Per SF | $7.77 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $78,316 |
| Annual Per SF | $8.71 |
PROPERTY FACTS Under Contract
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- Controlled Access
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Smoke Detector
Walk Score®
Walker's Paradise (92)
PROPERTY TAXES
| Parcel Number | 100-0002-0402 | Total Assessment | $253,440 CAD |
| Land Assessment | $28,337 CAD | Annual Taxes | $20,879 CAD ($2.32 CAD/SF) |
| Improvements Assessment | $225,103 CAD | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
100-0002-0402
Land Assessment
$28,337 CAD
Improvements Assessment
$225,103 CAD
Total Assessment
$253,440 CAD
Annual Taxes
$20,879 CAD ($2.32 CAD/SF)
Tax Year
2024
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203 W McMillan St
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