Westwood Manor 3272 Gobel Ave 33 Unit Apartment Building For Sale Cincinnati, OH 45211

SABRE Group | Multifamily Advisors is pleased to present the opportunity to acquire Westwood Manor at 3272 Gobel Ave. In this offering memorandum, you will find all available information to help you can make an informed investment decision. Our intent is to provide you with a clear picture of the property's current condition, immediate repair and capital expenditure needs, as well as opportunities we believe could increase value.
Westwood Manor is a 3-building, 33-unit multifamily property on a 2.23-acre (97,095-square-foot) lot, in Westwood. Westwood is a submarket of the Cincinnati MSA, located within the Cincinnati school district in Hamilton County. The property is zoned RM-2.0-T; Residential multifamily, transportation corridor.
Westwood Manor was built in 1964 with flat rubber membrane roofs (two replaced in 2020), poured concrete foundation and brick exterior walls, totaling 26,244 square feet. The windows are mix of vinyl & aluminum and HVAC is electric baseboard heat/through wall ac. The property includes a parking lot that can accommodate 40 cars; 1.21 cars per unit.
The unit mix includes 15 one-bed units; 18 two-bed units with an average unit size of 832 square feet. As of the rent roll date, 10/15/2025, the property was 75.8% occupied with an average length of tenancy of 34.4 months, the longest tenure being 36 months. The average effective rental rate is $1.05 per square foot. Based on our market research, the average effective market rent is $1.21 per square foot. Therefore, we estimate that current rents are 14% below market rents.