North Meadows Townhomes 40 Unit Portfolio 5828 N Meadows Blvd
40 Unit Apartment Building $5,000,000 ($125,000/Unit) 5.14% Cap Rate Columbus, OH 43229
INVESTMENT HIGHLIGHTS
- Situated less than a quarter-mile from I-71 and Route 161
- 24 units with private patio
- Townhomes with full basements with washer/dryer hookups, ensuring high resident demand
EXECUTIVE SUMMARY
Portfolio of 40 unit 2 bedroom / 1 bath townhomes with basements. Located on North Meadows Blvd, less than a quarter of a mile from I-71 and SR 161. 5828-5832 N Meadows Blvd. and 908, 892 N Meadows Ct. Columbus, OH 43229. Both properties are nearly adjacent to each other.
High occupancy with plenty of rent upside. 23 units are fully renovated with granite countertops, LVP flooring, and bath with tile surround. The remaining units have had targeted updates, including seven fully renovated bathrooms. Strong tenant demand, only one unit vacant (remodeled).
Text or email for more details. Do not disturb tenants. This property is co-owned by one or more licensed real estate agents and brokers affiliated with Swiss Realty Group.
High occupancy with plenty of rent upside. 23 units are fully renovated with granite countertops, LVP flooring, and bath with tile surround. The remaining units have had targeted updates, including seven fully renovated bathrooms. Strong tenant demand, only one unit vacant (remodeled).
Text or email for more details. Do not disturb tenants. This property is co-owned by one or more licensed real estate agents and brokers affiliated with Swiss Realty Group.
DATA ROOM Click Here to Access
- Operating and Financials
- Miscellaneous
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
PROPERTY FACTS
| Price | $5,000,000 |
| Price Per Unit | $125,000 |
| Sale Type | Investment |
| Cap Rate | 5.14% |
| No. Units | 40 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.35 AC |
| Building Size | 33,956 SF |
| Average Occupancy | 97% |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 1.71/1,000 SF |
UNIT AMENITIES
- Washer/Dryer Hookup
- Granite Countertops
- Basement
- Patio
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 40 | $1,175 | 810 - 875 |
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PROPERTY TAXES
| Parcel Number | 010-132283 | Total Assessment | $104,825 (2023) |
| Land Assessment | $25,200 (2023) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $79,625 (2023) | Tax Year | 2024 |
ZONING
| Zoning Code | Multifamily (401 - APARTMENTS 4 TO 19 FAMILY) |
