| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 41st | Fair |
| Demographics | 32nd | Poor |
| Amenities | 31st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 613 Gholson Ave, Cincinnati, OH, 45229, US |
| Region / Metro | Cincinnati |
| Year of Construction | 1978 |
| Units | 20 |
| Transaction Date | 2007-07-23 |
| Transaction Price | $286,000 |
| Buyer | RAMINENI HARI |
| Seller | SUNRISE APARTMENTS CINCINNATI LP |
613 Gholson Ave Cincinnati Multifamily Investment
High renter concentration and improving neighborhood occupancy support durable demand, according to WDSuite’s CRE market data. A smaller unit mix may align with workforce tenants seeking value in an inner-suburb setting.
Situated in Cincinnati’s inner-suburb fabric, the property benefits from a predominantly renter-occupied neighborhood (measured as share of housing units), which deepens the tenant base and can support leasing stability. Neighborhood occupancy has trended upward over the past five years, indicating improving absorption conditions and a more reliable backdrop for rent roll performance.
Within a 3-mile radius, population has grown and households have increased, with projections calling for continued household gains alongside smaller average household sizes. For multifamily owners, this points to a larger pool of renters entering the market and sustained demand for smaller formats. Median contract rents in the area remain comparatively accessible relative to income levels, suggesting balanced pricing power with mindful lease management.
Amenity access is mixed. Parks coverage is a relative strength, testing well versus national peers, while day-to-day retail such as grocery, cafes, and pharmacies are limited within the immediate neighborhood. Average school ratings score on the lower end for the metro, which may weigh on family-oriented demand but is less likely to impact studios and smaller formats targeting singles or roommates.
Built in 1978, the asset is newer than much of the surrounding housing stock, which skews early-century. That vintage can confer competitive positioning versus older comparables, while still warranting attention to aging systems, common areas, and value-add finishes to widen the renter funnel and enhance retention.
Neighborhood safety indicators trend below the metro median and sit in a lower national percentile, so investors should underwrite prudent security, lighting, and access controls. Recent data show a mixed trend: estimated property offenses decreased year over year, while estimated violent offenses increased. Framing risk and mitigation within operations will be important for leasing and renewal outcomes.
Proximity to major employers supports workforce housing demand and commute convenience for residents. Nearby anchors include healthcare, retail headquarters, and consumer goods corporate offices noted below.
- Humana — healthcare services (2.3 miles)
- Kroger — grocery retail HQ (3.2 miles) — HQ
- Hp — technology offices (3.3 miles)
- Procter & Gamble — consumer goods HQ (3.3 miles) — HQ
- Macy's — retail HQ (3.4 miles) — HQ
613 Gholson Ave offers exposure to a renter-heavy neighborhood with improving occupancy trends and a deepening tenant base within a 3-mile radius as households expand and average household sizes decline. The unit mix skews smaller, aligning with projected renter pool expansion and supporting steady absorption when paired with disciplined leasing and renewals. According to CRE market data from WDSuite, local rent levels remain relatively accessible against incomes, which can underpin retention while allowing for measured rent growth where improvements justify it.
The 1978 vintage is younger than much of the surrounding housing stock, positioning the asset competitively against older comparables. Targeted capital toward systems, curb appeal, and interior upgrades can capture value-add upside and broaden demand. Key underwriting considerations include amenity scarcity in the immediate area, lower average school ratings, and safety metrics that warrant operational focus.
- Renter-heavy neighborhood and improving occupancy support durable leasing
- 3-mile household growth and smaller household sizes expand the renter pool
- 1978 construction newer than local stock; targeted upgrades offer value-add potential
- Accessible rent levels relative to incomes can aid retention with disciplined pricing
- Risks: limited nearby retail amenities, lower school ratings, and safety metrics requiring on-site mitigation