14-UNIT APARTMENT COMPLEX WITH APPROVED PLANS FOR AN ADDITIONAL 24 UNITS!

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14-UNIT APARTMENT COMPLEX WITH APPROVED PLANS FOR AN ADDITIONAL 24 UNITS!

Columbus, OH 43215
Asking Price
$2.20M
Asset Type
Multifamily
Class
Class B

What's Special

Located in a developing residential pocket of Columbus, Ohio, this multifamily property offers proximity to major transit corridors and local commerce. The surrounding neighborhood is characterized by a mix of established residential housing and small-scale commercial services. Residents benefit from convenient access to public transportation and regional highways, streamlining commutes to the city's downtown business district and major employment hubs. Local amenities include grocery stores, public parks, and community schools within a short driving radius. The asset is suited for investors seeking a combination of stabilized income and immediate development potential. With approved plans for 24 additional units, the property caters to a value-add or expansion strategy. The typical tenant profile consists of local workforce professionals and small households attracted to the area's functional accessibility and urban convenience. The existing 14-unit structure and planned expansion align with the steady demand for rental housing within this mid-market demographic.

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NOI
$80,000
Cap Rate
3.64%
DSCR
0.61
Underwater
Cash-on-Cash
-7.67%
Monthly Payment
$10,884.4
Annual Cash Flow
$-50,612.796

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