14 Units Approved Plan For Additional 24 Unit | 602 E Town St
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14 Units Approved Plan For Additional 24 Unit 602 E Town St
14 Unit Apartment Building $2,650,000 ($189,286/Unit) 5.61% Cap Rate Columbus, OH 43215
Investment Highlights
- UNIQUE DEVELOPMENT OPPORTUNITY
- UNDERGROUND PARKING
- APPROVED PLANS FOR ADDITIONAL 24 UNITS
- GREAT DOWNTOWN COLUMBUS LOCATION
Executive Summary
14-UNIT APARTMENT COMPLEX WITH APPROVED PLAN FOR AN ADDITIONAL 24 UNITS! Rare opportunity to acquire 14 units downtown with approved plans for an additional 24 units on the rear of the site. Existing rents are below market allowing a value-add opportunity on the 14 units while new construction occurs on the back. Underground parking in the current 14-unit complex provides a great amenity for the units. This is minutes from the heart of Downtown Columbus in a booming submarket filled with young professionals. Incredible value-add opportunity! See proposed property on the same parcel for the 24 unit multi-family building.
Property Facts
| Price | $2,650,000 | Apartment Style | Low Rise |
| Price Per Unit | $189,286 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.74 AC |
| Cap Rate | 5.61% | Building Size | 12,702 SF |
| No. Units | 14 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1932 |
| Property Subtype | Apartment |
| Price | $2,650,000 |
| Price Per Unit | $189,286 |
| Sale Type | Investment |
| Cap Rate | 5.61% |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.74 AC |
| Building Size | 12,702 SF |
| No. Stories | 2 |
| Year Built | 1932 |
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Carpet
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 7 | - | 712 |
| 2+2 | 7 | - | 1,038 |
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Walk Score ®
Very Walkable (86)
Bike Score ®
Very Bikeable (73)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $506,770 | |
| Land Assessment | $395,610 | Total Assessment | $902,380 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$395,610
Improvements Assessment
$506,770
Total Assessment
$902,380
zoning
| Zoning Code | DD (Downtown District) |
| DD (Downtown District) |
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14 Units Approved Plan For Additional 24 Unit | 602 E Town St
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