590 Ludlow AveCincinnati, OH 45220

Ludlow Manor is a well-maintained, three-story Tudor Revival apartment building located at 590 Ludlow Ave, Cincinnati, OH 45220. This 1925-built property boasts seven units, six parking spaces, and features original oak floors, Rookwood gas fireplaces, high ceilings, and arched doors. Currently fully rented, the building offers a strong pro-forma NOI of $61,221 and a 4.22% cap rate, with an asking price of $1,450,000 ($207,143 per unit). Situated in the desirable Clifton Gas Light District, it benefits from its proximity to major institutions including the University of Cincinnati, TriHealth, UC Hospital, Children's Hospital, and the UC Innovation Hub, as well as downtown Cincinnati. The Uptown area, where Ludlow Manor is located, shows significant economic growth, with over 176,871 total jobs and rising. The building's current rents are below market, presenting an opportunity for increased revenue. Potential for value-add improvements to kitchens and bathrooms exists. The property offers a convenient location, a short walk from restaurants, pubs, shops, Clifton Market, and the Esquire movie theatre. Separate gas and electric meters are installed. This property presents a compelling investment opportunity, potentially suitable for an owner-occupant seeking a "house hack" strategy. Annual revenue, with the owner's unit rented, is $131,490.