2210-2256 October Ridge Dr
Columbus, OH 43223
Multifamily Property For Sale · 20 Units

Charles Hart is pleased to present October Ridge, a 20-unit apartment community located in Columbus, Ohio. The property was built in 1987 and is comprised of 5 residential buildings, and is nestled on 4.61 acres. October Ridge provides an excellent opportunity to acquire a stable, well-located asset, with very little deferred maintenance and upside potential. October Ridge consists of an all-electric two-bedroom townhome floor plan with 924 square feet of living space. Unit features include an individual entrance, a private enclosed patio, a fully equipped kitchen with built-in microwave, dishwasher, ceiling fan, and a washer/dryer included in each unit. Residents are responsible for paying the electric as well as the water/sewer (via Guardian). The community, which is situated in a park-like setting, offers plentiful surface parking for residents. October Ridge is conveniently located in southwest Columbus between Interstates 70 and 270. With easy access to numerous major thoroughfares, residents are only minutes from the area’s employment, shopping and dining options. Additionally, downtown Columbus, the Ohio State University, and Port Columbus International Airport are within a 15-minute commute. A new owner will immediately benefit from the recent repositioning of the asset. The property will provide strong, immediate cash-flow, but also offers additional upside through continued unit renovations and increased rental rates. Since 2013 more than $140,000 of capital improvements that have taken place at the property. This includes in several new roofs, new windows, blinds, and insulated storm doors. In addition, the property has also gone through parking lot repairs, landscaping, adding washer/dryers and built-in microwaves in each unit, and numerous other capital projects. Offered free and clear of existing debt, an investor can take advantage of the capital markets and secure new financing which will enable strong cash flow with room for continued growth. October Ridge may be purchased individually or in conjunction with Eakin Place Townhomes.