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$ 725,000
Est. payment | /mo
3,484 Sqft Lot
$ 725,000
Est. payment | /mo
3,484 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 226032175
Year Built 1940
Annual Tax Amount $6,804
Lot Size 3,484 Sqft
Lot Dimensions 0.08
Property Sub-Type Mixed Use
Source Columbus and Central Ohio Regional MLS
Property Description
Mixed-use value-add -- thirteen 1BR/1BA units plus one commercial storefront, twelve residential units delivered vacant.
This is a heavy value-add project, not a stabilized asset. The twelve vacant residential units require substantial renovation before they can be leased, and pricing reflects that condition. Buyers should underwrite a full gut-and-turn budget across the vacant unit mix plus a realistic lease-up period.
In-place income is one residential unit at $700/month and the commercial suite leased to MetroPCS at $1,300/month, both month-to-month. A recent appraisal concluded an as-is value of $800,000 for the residential component; the commercial suite was excluded from that valuation.
The return is on the other side of the renovation. CMHA's 2026 payment standard for a 1BR in the 43211 ZIP code is $980/month, effective 8/1/2026 -- a gross figure inclusive of the tenant utility allowance, with final contract rent subject to CMHA rent reasonableness and HQS approval. Against $700 in place, a renovated unit mix leased to voucher holders supports a materially higher rent roll, and a new owner executes the full turn and lease-up without relocating existing residents.
Linden location, minutes from the Linden Community Center, I-71 and Easton, with COTA service on the corridor.
This is a heavy value-add project, not a stabilized asset. The twelve vacant residential units require substantial renovation before they can be leased, and pricing reflects that condition. Buyers should underwrite a full gut-and-turn budget across the vacant unit mix plus a realistic lease-up period.
In-place income is one residential unit at $700/month and the commercial suite leased to MetroPCS at $1,300/month, both month-to-month. A recent appraisal concluded an as-is value of $800,000 for the residential component; the commercial suite was excluded from that valuation.
The return is on the other side of the renovation. CMHA's 2026 payment standard for a 1BR in the 43211 ZIP code is $980/month, effective 8/1/2026 -- a gross figure inclusive of the tenant utility allowance, with final contract rent subject to CMHA rent reasonableness and HQS approval. Against $700 in place, a renovated unit mix leased to voucher holders supports a materially higher rent roll, and a new owner executes the full turn and lease-up without relocating existing residents.
Linden location, minutes from the Linden Community Center, I-71 and Easton, with COTA service on the corridor.
Location
State OH
County Franklin
Area 0.08
Zoning UGN-1
Rooms
Other Rooms None
Dining Room No
Interior
Heating Forced Air
Cooling None
Equipment No
Laundry No Laundry Rooms
Exterior
Parking Features Common
Schools
High Schools Columbus Csd 2503 Fra Co.
School District Columbus Csd 2503 Fra Co.
Others
Tax ID 010-050468
Listed by Zeke Liston Forge Real Estate Advisors
NEARBY SCHOOLS & PROPERTIES
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