Property Description

Well-maintained 4-unit multifamily featuring four identical 1-bedroom units, all currently occupied on month-to-month leases. Current signed rents total $4,000/month ($48,000 annually), offering a stabilized investment at approximately a 9% cap rate at current pricing. The property has been updated over time and provides a strong income-producing opportunity with flexibility for future operational adjustments. Includes coin-operated laundry and shared rear driveway. Ideal for investors seeking immediate cash flow.

54 Gorman Lane | MLS# 1863715

This multi-family property located at 54 Gorman Lane, Reading, OH 45215 is currently listed for sale with an asking price of $365,000. Gorman Lane is located within the Reading Community Ci school district. Search Reading real estate on 251danielburnhamsquareunitunit259.cutlerhomes.com today.

Property Features

Property Type: Multi Unit - Multiple

Basement: Yes

Basement: Full

Cooling: Window Unit

Days on Market: 153

Fireplaces: 0

Garage: 4

Heating: Radiant, Gas, Hot Water

Roof Type: Shingle

Stories: 2.0

Taxes: $5,504

Year Built: 1942

Feature Descriptions

Exterior: Brick

Fireplace Features: None

Foundation: Poured

Gas: None

Miscellaneous: Coin Laundry, Smoke Alarm

Parcel #: 6710002007300

Parking: Lot, Off Street, Driveway, Private

Sewer: Public Sewer

Total Buildings: 1

Units: 4

Water: Public

Window Features: Vinyl, Double Hung

Local Schools

School District: Reading Community Ci

Demographics

Hamilton County Demographic Information for 54 Gorman Lane, Reading, OH 45215

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

$ 2,420.38 per month $1,855.25 Principal & Interest $458.67 Property Tax $106.46 Homeowner's Insurance

Change Payment Information

Real estate agents ready to serve you | Browse homes and real estate for sale

Disclaimer: All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information on this site was last updated 05/10/2026. The listing information on this page last changed on 05/10/2026. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Delta Media Group MLS (last updated Sun 05/10/2026 12:07:27 AM EST) or Dayton MLS (last updated Sat 05/09/2026 11:46:39 PM EST) or CBRMLS (last updated Sun 05/10/2026 12:04:43 AM EST) or Multiple Listing Service of Greater Cincinnati (last updated Sat 05/09/2026 11:53:27 PM EST) or NKY MLS (last updated Sat 05/09/2026 11:28:24 PM EST) or Wrist MLS (last updated Sat 05/09/2026 10:09:29 PM EST) or Firelands MLS (last updated Sat 05/09/2026 11:11:38 PM EST) or MLS NOW (last updated Sun 05/10/2026 12:02:29 AM EST). Real estate listings held by brokerage firms other than Cutler Real Estate may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved.

The Cutler Real Estate® word mark is a registered trademark owned by Cutler and Associates, Inc.
Privacy Policy / DMCA Notice / ADA Accessibility

Sitemap

54 Gorman LaneReading, OH 45215