2346 Boone St, Cincinnati, OH for sale

Investment Overview

2346 Boone Street is a fully renovated, 100% occupied 14-unit multifamily building in Cincinnati's Walnut Hills submarket. The property underwent a complete gut renovation in 2022–2023, with new HVAC, security, and access control systems installed throughout. Units are individually metered for electric and gas, and the property carries a CRA tax abatement through 2030, holding the assessed value at $324,290 against a $536,650 full assessment. The asset produces $158,520 in NOI, reflecting a 6.1% cap rate at the $2,600,000 asking price.

Investment Highlights

• Complete Gut Renovation - Professional conversion completed 2022-2023
• Tenant-Paid Utilities - Individual electric and gas meters reduce landlord expenses
• Modern Building Systems - New HVAC, security, and building access controls
• Additional Development Potential - Adjacent parking lot available for purchase separately
• CRA Abatement through 2030
• 100% Occupancy
• Close Proximity to the University of Cincinnati, Downtown Cincinnati and Xavier University
• Walnut Hills Has Seen over $100M+ in Real Estate Development Projects in Recent Years