4,791 Sqft Lot
4,791 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Midrise
Listing Status Active
Purchase Type For Sale
Subdivision Victorian Village - One Block From Goodale Park
MLS Listing ID 226007726
Year Built 1900
Annual Tax Amount $8,955
Lot Size 4,791 Sqft
Lot Dimensions 0.11
Property Sub-Type Midrise
Source Columbus and Central Ohio Regional MLS
Property Description
Rare opportunity to acquire a brick four-unit located just one block from Goodale Park and approximately 5 blocks to the Short North Arts District. The property produces approximately $79,080 in current rental income with upside potential to over $92,000, offering an estimated 8% cap rate with pro-forma potential near 10% through rental optimization, supported by three units utilizing CMHA vouchers and one-bedroom payment standards in this ZIP code of approximately $1,969, the highest in Franklin County. Features four off-street parking spaces and on-site coin-operated laundry providing additional income. Current rents are $1,800, $1,645, $1,500, and one unit available for immediate lease-up, conservatively projected around $1,645 with additional upside potential. Rear parking offers additional value-add potential, as similar properties have added garage structures with residential units above, creating a potential fifth unit and additional income, subject to zoning and city approvals. Also ideal for an owner-occupant or first-time investor to leverage low down payment financing and strong rental income to offset housing costs while beginning a real estate portfolio.
Location
State OH
County Franklin
Community Victorian Village - One Block From Goodale Park
Area 0.11
Rooms
Other Rooms None
Dining Room No
Interior
Heating Forced Air
Cooling Central Air
Equipment No
Laundry No Laundry Rooms
Schools
High Schools Columbus Csd 2503 Fra Co.
School District Columbus Csd 2503 Fra Co.
Others
Tax ID 010-023595
Acceptable Financing FHA, Conventional
Listing Terms FHA, Conventional
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