2872 Howey Rd
Columbus, OH 43224
Multifamily Property For Sale · 64 Units

Auction Website: MenishAuctions.com/Auctions Great Opportunity to obtain a Value-Add Apartment Portfolio in Columbus, Ohio. Portfolio is a fully stabilized 64 Apartment Portfolio with 95% occupancy on average. The seller is liquidating all apartment holdings in 2017. Strong management company in place to step in for new owner. The properties are large 2 and 3 bedroom townhouses, all centrally located within 5 miles of Columbus, Ohio. 2017 NOI (ytd actuals annualized): 253,259. 2016 NOI: $236,794. Many upgrades have been completed over time including some new roofs, kitchens, windows, mechanicals, as needed. Some of the apartments have been completely remodeled where some have a small amount of deferred maintenance. However, the apartments are fully leased with work orders completed within 3 business days. Rents are below market and the landlord pays for water and sewer even where units are separately metered so there is strong immediate upside potential. Columbus, Ohio is the 15 largest city in the US and the fastest growing city in the Midwest in both Population and Job Growth. Columbus is home to The Ohio State University and over 55 universities and 135,000 college students and is #3 in the Nation in Millennial Population Growth. Major employers are Government, Education, Nationwide Insurance, JP Morgan Chase, Limited Brands and Victoria Secret Corp, Amazon, Krogers, an numerous other major employers.