3-Unit Apartment Building for Sale in Over-the-Rhine | 535 Klotter Ave Cincinnati Investment Opportunity
- Kelly Gibbs
- 3 minutes ago
- 4 min read
*NEW LISTING * Tuesday, March 10, 2026
NEW LISTING! 3-Unit Apartment Building For Sale in OTR: 535 Klotter Ave, Cincinnati, Oh 45214
3 One Bed Units | 3 Dedicated Off-Street Parking Spots | Garage
$450,000
Opportunities to own small multifamily properties in Over-the-Rhine (OTR) are becoming harder to find—especially buildings located on quieter streets with parking, skyline views, and updated mechanical systems.
That’s what makes this 3 unit apartment building for sale at 535 Klotter Ave in Cincinnati, Ohio such a compelling investment opportunity.
This three-unit apartment building sits on a desirable street in Over-the-Rhine and offers a combination of location, flexibility, and long-term investment potential. With walkability to some of Cincinnati’s most popular destinations and strong tenant demand in the neighborhood, this property checks many of the boxes investors look for in urban rental real estate.
Prime Over-the-Rhine Location Near Cincinnati’s Best Attractions
Location is everything when it comes to rental property—and 535 Klotter Ave delivers.
This property is within walking distance of several of Cincinnati’s most iconic destinations:
TQL Stadium
Findlay Market
Washington Park
Downtown Cincinnati
Music Hall
Residents also enjoy easy access to major highways, making commuting around the city convenient.
Over-the-Rhine has become one of Cincinnati’s most vibrant neighborhoods thanks to its restaurants, breweries, nightlife, and historic architecture. This walkability continues to drive strong rental demand for apartments in OTR.
Property Overview: 535 Klotter Ave
This three-unit apartment building offers a versatile configuration for investors or owner-occupants.
Key Property Features
• 3 residential 1-bed units
• Private deck for each unit
• Oversized garage = Additional Rental Income
• 3 off-street parking spaces
• Panoramic Cincinnati skyline views
• Spacious rooms and updated interiors
• Equipped kitchens
• Located on a quiet, sought-after OTR street
Parking is particularly valuable in Over-the-Rhine, and having both garage space and off-street parking makes this property especially attractive for tenants.
Unit Configuration
The property currently offers a mix of occupancy and leasing opportunity.
Unit 1: Currently occupied, providing immediate rental income.
Unit 2: Vacant and ready for a new tenant or great for owner occupant, giving buyers the opportunity to set market rent or explore alternative rental strategies.
Unit 3: Configured as a mid-term furnished rental, min of 90day stay, with a tenant scheduled to move in at the end of March. The unit is fully furnished, which can appeal to traveling professionals, relocation clients, and other mid-term renters.
This mix of units offers investors a combination of income stability and flexibility.
Major Mechanical Updates
One of the most important factors investors consider when purchasing multifamily property is the condition of the mechanical systems.
At 535 Klotter Ave, several key upgrades were completed in June 2022, including:
Three new HVAC systems
Three new water heaters
Having separate systems for each unit can simplify maintenance and provide more efficient climate control for tenants.
For buyers, these upgrades can also mean lower immediate capital expenses after purchase.
Private Decks and Skyline Views
Private outdoor space is one of the most sought-after amenities in urban apartment living.
Each unit at 535 Klotter Ave includes its own private deck, creating an ideal place for tenants to relax while enjoying panoramic views of the Cincinnati skyline.
Properties with skyline views often stand out in the rental market because they create a unique living experience that tenants cannot easily find elsewhere.
Why Investors Are Buying Multifamily Properties in Over-the-Rhine
Over-the-Rhine has undergone one of the most remarkable neighborhood transformations in the Midwest.
The area now attracts residents who want:
Walkability
Historic character
Dining and nightlife
Proximity to downtown jobs
Access to entertainment and sports
The opening of TQL Stadium, home of FC Cincinnati, has further increased the neighborhood’s popularity and visibility.
For apartment investors, this translates to consistent rental demand and long-term appreciation potential.
Flexibility for Rental Strategies
Properties like 535 Klotter Ave also provide flexibility in how units are operated.
Investors may consider several approaches:
Traditional Long-Term Rentals: Stable monthly income from long-term tenants.
Mid-Term Furnished Rentals: Appealing to traveling professionals, contractors, and relocation clients.
Owner-Occupancy: Live in one unit while renting the others to offset mortgage costs.
This flexibility can make smaller multifamily properties particularly appealing compared to larger apartment complexes.
Historic Charm Meets Modern Living
One of the reasons renters love Over-the-Rhine is the historic architecture that defines the neighborhood.
Many properties in OTR feature:
Classic brick facades
Tall ceilings
Large windows
Spacious layouts
When paired with modern updates and renovated kitchens, these buildings create apartments that blend historic charm with modern comfort.
Investment Potential in OTR Cincinnati
Over-the-Rhine continues to attract both local and out-of-state investors.
Several factors continue to support property values:
Continued restaurant and retail development
Walkability and urban lifestyle demand
Tourism and entertainment events
Proximity to Downtown Cincinnati
Historic preservation of the neighborhood
Small multifamily properties like 3-unit apartment buildings are especially appealing because they often provide manageable property size with strong rental demand.
Thinking About Buying or Selling an Apartment Building in Over-the-Rhine?
If you're considering purchasing an investment property in Over-the-Rhine, properties like 535 Klotter Ave demonstrate why this neighborhood continues to attract attention from investors.
And if you currently own a multifamily property in OTR, you may be surprised by what buyers are willing to pay in today’s market.
As a Cincinnati Realtor specializing in urban and investment properties, I help buyers and sellers evaluate:
Rental income potential
Property value and appreciation
Investor demand
Strategic marketing for multifamily properties
📍 If you'd like to learn more about 535 Klotter Ave or other multifamily opportunities in Cincinnati, feel free to reach out anytime.
Kelly GibbsComey & Shepherd Realtors📞 513-290-6216🌐 kellysellscincy.com
The above OTR, Cincinnati, Oh 3 Unit Investment Property for sale, “535 Klotter Ave” is listed by Kelly Gibbs, Realtor, Comey & Shepherd. Kelly can be reached via email at kelly@kscincy.com or by phone at 513-290-6216.
If you’re thinking of buying or selling a home or an investment property in the Cincinnati area I would love to share my marketing knowledge and expertise to help you! Contact me today!
I service the following Greater Cincinnati, OH areas: Amberley, Anderson Township, City of Cincinnati, Clifton, Columbia Tusculum, Blue Ash, Deer Park, Hyde Park, Indian Hill, Kennedy Heights, Kenwood, Loveland, Madeira, Madisonville, Mariemont, Mason, Milford, Montgomery, Mt. Lookout, Mt. Washington, Newtown, North Avondale, Northside, Norwood, Oakley, Pleasant Ridge, Silverton, Sycamore Township, Symmes Township, and Walnut Hills.