642-654 W State & 83-85 S Grubb St St
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642-654 W State & 83-85 S Grubb St St
8 Unit Mobile Home Park $1,200,000 ($150,000/Unit) Columbus, OH 43215
Investment Highlights
- Fantastic opportunity for investors
- Located within a designated Opportunity Zone
- Future redevelopment opportunities
- 8 recently renovated units - a single-family house and 7 row houses
- Tax abatement pending
Executive Summary
Investment Opportunity in East Franklinton. This multi-unit property offers a fantastic opportunity for investors in one of Columbus, most dynamic neighborhoods. Located just blocks from popular destinations such as BrewDog and Land-Grant Brewing, and less than a 5-minute walk from both, this property is well-positioned for continued growth in East Franklinton. The property consists of 8 units including a single-family house and 7 row houses, all of which have been renovated to various degrees. Recent updates include new HVAC systems, windows, roofing, siding, appliances, tile, electrical, flooring, and plumbing fixtures, ensuring a modern and low-maintenance investment. Several units have undergone extensive renovations, with potential for even greater upside as all units could be fully upgraded. Additionally, the property is located within
a designated Opportunity Zone, offering significant benefits from both State and Federal programs. The State program provides a 10% tax credit on the total purchase price, enhancing the financial appeal of this investment. Moreover, the property is tax-abated on improvements, reducing ongoing operating expenses and improving cash flow potential. Sitting on a large corner lot, the property not only provides immediate rental income but also holds redevelopment potential, making it an attractive option for long-term growth. The individual units could be sold off separately, creating additional flexibility for potential investors. This is an exceptional chance to invest in a high-demand area with organic rent growth, a strong local economy, and future redevelopment opportunities.
a designated Opportunity Zone, offering significant benefits from both State and Federal programs. The State program provides a 10% tax credit on the total purchase price, enhancing the financial appeal of this investment. Moreover, the property is tax-abated on improvements, reducing ongoing operating expenses and improving cash flow potential. Sitting on a large corner lot, the property not only provides immediate rental income but also holds redevelopment potential, making it an attractive option for long-term growth. The individual units could be sold off separately, creating additional flexibility for potential investors. This is an exceptional chance to invest in a high-demand area with organic rent growth, a strong local economy, and future redevelopment opportunities.
Property Facts
| Price | $1,200,000 | Building Class | C |
| Price Per Unit | $150,000 | Lot Size | 0.30 AC |
| Sale Type | Investment | Building Size | 4,428 SF |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1900 |
| Property Subtype | Manufactured Housing/Mobile Home | Opportunity Zone |
Yes
|
| Apartment Style | Single Family Home |
| Price | $1,200,000 |
| Price Per Unit | $150,000 |
| Sale Type | Investment |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Apartment Style | Single Family Home |
| Building Class | C |
| Lot Size | 0.30 AC |
| Building Size | 4,428 SF |
| No. Stories | 2 |
| Year Built | 1900 |
| Opportunity Zone |
Yes |
Bike Score®
Very Bikeable (74)
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642-654 W State & 83-85 S Grubb St St
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