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2457-2459 Montana Ave
Cincinnati, OH 45211
Multifamily Property For Sale
·
21 Units
INVESTMENT HIGHLIGHTS
- Stabilized Cash Flow Opportunity: 95% occupied with in-place rents averaging $1,072 per month, providing immediate, reliable income from day one.
- Well-Maintained Asset: Newer vinyl windows, shingle roofs, and updated interiors create a low-maintenance property with minimal near-term capital need
- Value-Add Potential: Upside through RUBS implementation, garage income, and internet pass-through programs designed to enhance NOI and overall returns
- Desirable Westwood Location: Well-kept, established area near I-74 surrounded by quality apartments and consistent rental demand supporting long-term
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to present 2457 & 2459 Montana Avenue, a well-maintained 21-unit 2-building apartment community located in Cincinnati’s desirable Westwood submarket. Built in 1972 and situated on a combined 0.97 acres, the properties offer approximately 16,200 rentable square feet with a mix of eleven one-bedroom and ten two-bedroom apartments. Current occupancy stands at 95 percent with average effective rents of $1,072 per month. 2457 & 2459 Montana Avenue presents investors with a stabilized, income-producing asset offering multiple avenues for value creation. Upside exists through utility RUBS implementation, garage rental income, and internet service pass-throughs—initiatives that can drive near-term NOI growth.
Properties can be purchased separately. They are also available with 2679 Montana Ave - an 11-unit one half mile down the road.
Link to deal vault with OM, financials, and rent roll: https://www.marcusmillichap.com/properties/192405/montana-ave-duo
Properties can be purchased separately. They are also available with 2679 Montana Ave - an 11-unit one half mile down the road.
Link to deal vault with OM, financials, and rent roll: https://www.marcusmillichap.com/properties/192405/montana-ave-duo
PROPERTY FACTS
| Price Per Unit | $111,341 CAD | Lot Size | 0.97 AC |
| Sale Type | Investment | Building Size | 16,200 SF |
| No. Units | 21 | Average Occupancy | 95% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1972 |
| Apartment Style | Low-Rise | Parking Ratio | 2.72/1,000 SF |
| Building Class | C | ||
| Zoning | RM-2.0 | ||
| Price Per Unit | $111,341 CAD |
| Sale Type | Investment |
| No. Units | 21 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.97 AC |
| Building Size | 16,200 SF |
| Average Occupancy | 95% |
| No. Stories | 3 |
| Year Built | 1972 |
| Parking Ratio | 2.72/1,000 SF |
| Zoning | RM-2.0 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 11 | $1,396 CAD | 700 |
| 2+1 | 10 | $1,675 CAD | 850 |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $296,725 CAD | |
| Land Assessment | $79,002 CAD | Total Assessment | $375,727 CAD |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$79,002 CAD
Improvements Assessment
$296,725 CAD
Total Assessment
$375,727 CAD
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