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Parkview Garden Apartments 480 Pedretti Ave 24 Unit Apartment Building For Sale Cincinnati, OH 45238
INVESTMENT HIGHLIGHTS
- • In-Place Rents Average $1,172 - Projected to reach $1,275 through a pure management and leasing execution
- • Partial RUBS in Place - Utility billback system already implemented; new owner can expand recovery
- • Recent Leasing at $1,210 with No Pushback - Current ownership has begun testing higher rent levels successfully
EXECUTIVE SUMMARY
• 24 Units | All Large 2BR Layouts (~825 SF)
Spacious floorplans attract long-term tenants and drive retention
• 1980s Brick Construction
Pitched roofs, individual HVAC, tenant-paid electric, low-maintenance systems
• High-Income, Low-Crime Submarket
Delhi boasts the highest household income and lowest turnover on Cincinnati’s West Side
• Minimal Nearby Competition
Zoning and geography severely limit new multifamily development
Spacious floorplans attract long-term tenants and drive retention
• 1980s Brick Construction
Pitched roofs, individual HVAC, tenant-paid electric, low-maintenance systems
• High-Income, Low-Crime Submarket
Delhi boasts the highest household income and lowest turnover on Cincinnati’s West Side
• Minimal Nearby Competition
Zoning and geography severely limit new multifamily development
PROPERTY FACTS Under Contract
| Sale Type | Investment | Lot Size | 1.51 AC |
| No. Units | 24 | Building Size | 12,144 SF |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built/Renovated | 1986/2017 |
| Apartment Style | Low-Rise | Parking Ratio | 1.81/1,000 SF |
| Building Class | C | ||
| Zoning | D - Designed to promote a vibrant, mixed-use urban environment and encourage a mix of residential, commercial, and office uses. | ||
| Sale Type | Investment |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.51 AC |
| Building Size | 12,144 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1986/2017 |
| Parking Ratio | 1.81/1,000 SF |
| Zoning | D - Designed to promote a vibrant, mixed-use urban environment and encourage a mix of residential, commercial, and office uses. |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Refrigerator
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1.5 | 24 | - | 825 |
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PROPERTY TAXES
| Parcel Number | 540-0013-0038 | Improvements Assessment | $433,675 CAD |
| Land Assessment | $64,860 CAD | Total Assessment | $498,535 CAD |
PROPERTY TAXES
Parcel Number
540-0013-0038
Land Assessment
$64,860 CAD
Improvements Assessment
$433,675 CAD
Total Assessment
$498,535 CAD
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Parkview Garden Apartments | 480 Pedretti Ave
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