Multifamily
The Allisonia
4431 Allison St, Cincinnati, OH 45212
Listing Price: Request For Offer
Investment Overview
Marcus & Millichap is pleased to present The Allisonia, an extensively renovated 11-unit apartment building located in Norwood - one of Cincinnati’s most centrally positioned and rapidly improving submarkets. Built in 1900 and fully modernized within the past five years, the property features a mix of seven two-bedroom and four three-bedroom apartments averaging more than 1,000 square feet each. Current occupancy stands at 100 percent, excluding the one down unit, with average effective rents of $1,494 per month - highlighting the property’s strong in-place income and premium renovation quality. The Allisonia offers a stabilized, cash-flowing investment that has been meticulously renovated and updated, with additional upside through bringing the 11th unit online to further enhance performance.
The Allisonia
Investment Highlights
- Strong In-Place Income: Average Effective Rents of $1,494 per Month with Full Occupancy (Only One Unit Currently Down) Provide Immediate, Stable Cash Flow.
- Extensive Renovations: Since 2022, the Property has Received All-New Romex Electrical Wiring, Updated Electrical Panels to Provide 700 Amp Service, and Complete Unit Renovations
- Value-Add Potential: The Remaining Down Unit Offers an Immediate Opportunity to Increase Net Operating Income by Completing Renovation and Adding to the Rent Roll.
- Attractive Financing: Option to Assume the Existing Freddie Mac SBL Loan at a 6.01 Percent Fixed Rate or Place New Agency Debt with Higher Leverage and Extended Interest-Only Options.
- Desirable Norwood Location: Centrally Located Near Factory 52, Xavier University, and Rookwood Commons, with Quick Access to I-71 and I-75 - Supporting Long-Term Tenant Demand and Sustained Rent Growth.
Exclusively Listed By
Listing Price: Request For Offer
Investment Highlights
- Strong In-Place Income: Average Effective Rents of $1,494 per Month with Full Occupancy (Only One Unit Currently Down) Provide Immediate, Stable Cash Flow.
- Extensive Renovations: Since 2022, the Property has Received All-New Romex Electrical Wiring, Updated Electrical Panels to Provide 700 Amp Service, and Complete Unit Renovations
- Value-Add Potential: The Remaining Down Unit Offers an Immediate Opportunity to Increase Net Operating Income by Completing Renovation and Adding to the Rent Roll.
- Attractive Financing: Option to Assume the Existing Freddie Mac SBL Loan at a 6.01 Percent Fixed Rate or Place New Agency Debt with Higher Leverage and Extended Interest-Only Options.
- Desirable Norwood Location: Centrally Located Near Factory 52, Xavier University, and Rookwood Commons, with Quick Access to I-71 and I-75 - Supporting Long-Term Tenant Demand and Sustained Rent Growth.
Investment Overview
Marcus & Millichap is pleased to present The Allisonia, an extensively renovated 11-unit apartment building located in Norwood - one of Cincinnati’s most centrally positioned and rapidly improving submarkets. Built in 1900 and fully modernized within the past five years, the property features a mix of seven two-bedroom and four three-bedroom apartments averaging more than 1,000 square feet each. Current occupancy stands at 100 percent, excluding the one down unit, with average effective rents of $1,494 per month - highlighting the property’s strong in-place income and premium renovation quality. The Allisonia offers a stabilized, cash-flowing investment that has been meticulously renovated and updated, with additional upside through bringing the 11th unit online to further enhance performance.
Exclusively Listed By
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