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$ 6,120,000
Est. payment /mo
New
2483 Courtright Road Columbus, OH 43232
1.46 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family, Townhouse
Sub Type Townhouse
Listing Status Active
Purchase Type For Sale
MLS Listing ID 226042123
Year Built 1980
Annual Tax Amount $119,089
Lot Size 1.460 Acres
Lot Dimensions 1.46
Property Sub-Type Townhouse
Source Columbus and Central Ohio Regional MLS
Property Description
This is an opportunity to acquire three value-add multifamily communities in Columbus offered as a package at $6,120,000 ($68,764 per unit), a $35,000 discount to the combined individual prices. Pine Hill Townhomes (32 units), Melrose Manor (33 units), and Village on Courtright (24 units) total 89 units, 86.5% occupied (77 of 89), with combined T-12 NOI of $519,884 (8.49% cap). In-place rents sit below market at all three, and the 12 vacant units represent $11,770 per month at market, with roughly $10,000 per month more available on occupied units through turnover and renewals. RUBS or utility income is in place at all three. Located in southeast and northeast Columbus with access to I-270, I-70, and the Cleveland Avenue and US-40 corridors. An opportunity to acquire 89 units under one ownership with in-place cash flow and a clear path to higher rents.
Location
State OH
County Franklin
Area 1.46
Rooms
Other Rooms None
Dining Room No
Interior
Heating Forced 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 010-013748-00
Listed by Joey Allen Miller Forge Real Estate Advisors
NEARBY SCHOOL & BUSINESS
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