Property Description

Located in the highly desirable Gaslight Clifton neighborhood, 560 Terrace Ave is a solid all-brick three-family asset offering immediate income and long-term appreciation potential. Each unit features spacious layouts with strong tenant appeal, providing a reliable foundation for consistent occupancy. The property has been well maintained, minimizing near-term capital expenditures while preserving the opportunity for strategic value-add. Current rents are below market, presenting a clear path to increased cash flow through rent optimization and targeted improvements. Positioned near major hospitals, the University of Cincinnati, and a dense mix of retail and dining, this location supports strong rental demand and tenant retention, making it a stable investment in one of Cincinnati's most proven rental submarkets.Ideal for investors seeking a turn-key multi-family property with upside potential,560 Terrace offers both immediate income and the ability to enhance returns over t

560 Terrace Avenue | MLS# 1874341

This multi-family property located at 560 Terrace Avenue, Cincinnati, OH 45220 is currently listed for sale with an asking price of $499,000. Terrace Avenue is located within the Cincinnati school district. Search Cincinnati real estate on 7030hanbysloop.cutlerhomes.com today.

Property Features

Property Type: Multi Unit - Multiple

Basement: Yes

Basement: Full

Cooling: Central Air

Days on Market: 17

Fireplaces: 1

Garage: 2

Heating: Forced Air, Gas

Lot Size: 0.14 Acres

Roof Type: Slate

Stories: 3.0

Taxes: $8,866

Year Built: 1915

Feature Descriptions

Exterior: Brick

Fireplace Features: Inoperable

Foundation: Stone

Gas: Natural

Parcel #: 214-0002-0040-00

Parking: Onstreet, Driveway

Sewer: Private Sewer

SQFT Basement: 1494

Total Buildings: 1

Units: 3

Water: Public

Window Features: Storm, Double Hung, Wood

Local Schools

School District: Cincinnati

Demographics

Hamilton County Demographic Information for 560 Terrace Avenue, Cincinnati, OH 45220

Fips

Fips Code 39061

Population

2020 to 2025 Change up 0.9%

2010 Count 802,374

2020 Count 830,639

2025 Estimate (V2025) 838,418

2020 Estimate (V2025) 830,628

Age Distribution (Years Old)

0 to 4 6.1%

5 to 17 22.6%

18 to 64 54.0%

65 and Older 17.3%

Gender

Male 48.6%

Female 51.4%

Place of Birth

Foreign 6.3%

US 93.7%

Education

High School Graduate, Age 25+ 92.7%

Bachelor's Degree or Higher, Age 25+ 41.8%

Computer and Internet use

Households with a computer 95.1%

Households with a broadband Internet subscription 91.3%

Language

English is Second Language, Age 5+ 8.1%

English is First Language, Age 5+ 91.9%

Veterans

Veterans 34,838

Income

Per Capita Income $45,936

Median Household Income $72,470

People in Poverty 14.2%

Commute

Average Work Commute Time 23 minutes

Housing

Total Housing Units 381,690

Households 354,739

Average Household Size 2.29

Owner-Occupied 59.3%

Multi-Family 35.8%

Owner-Occupied Median Value $241,900

Median selected monthly owner costs -with a mortgage $1,673

Median selected monthly owner costs -without a mortgage $707

Median gross rent $1,075

Building Permits

New Private Housing Issued 2024 822

Years at Residence

1 Year or More 86.3%

Less Than 1 Year 13.7%

Business and Employment

Private non-farm Establishments 21,087

Private non-farm Employment 529,211

Private non-farm Employment Growth down 1.0%

Nonemployer Establishments 66,999

Number of Firms 14,937

Business Production

Value of Shipments $23,656,887,000

Wholesale Trade $16,309,476,000

Retail Trade $13,273,606,000

Retail Sales Per Capita $14,411

Accommodation and Food Services $2,445,265,000

Land

Land Area 405.91 sq. miles

Population Per Square Mile 1,977

Source: US Census Bureau

Estimate Your Payment

Estimated Payment

$ 3,420.73 per month $2,536.36 Principal & Interest $738.83 Property Tax $145.54 Homeowner's Insurance

Change Payment Information

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560 Terrace AvenueCincinnati, OH 45220