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295 Thurman Ave, Columbus, OH 43206 295 Thurman Ave 10 Unit Apartment Building $1,900,888 ($190,089/Unit) 5.61% Cap Rate Columbus, OH 43206
Executive Summary
*** Open House on Wednesday, July 15th @ 295 Thurman Avenue, Apartment A-1 from 4 - 6:00 p.m. This apartment is located in A-Bldg. (this is the 1st building closest to Thurman Avenue). *** Rare opportunity to acquire a beautifully maintained 10-unit brick apartment building located on desirable Thurman Avenue in one of Columbus' most sought-after rental corridors. The apartments consist of 8 - 2 bedroom & 2 - 1 bedroom. All upstairs units have wooden floors. This property has 2 parking lots. Institutional-quality investment opportunity combines strong in-place income, extensive capital improvements, and exceptional long-term upside. Current operations generate a NOI of approximately $106,600, with a 5.61% cap rate at the asking price. The property features a proven mix of traditional leases and furnished monthly rentals, offering future owners multiple strategies to increase income. Pro forma operating scenarios demonstrate the potential for significant NOI growth through expanded furnished monthly rentals. Ownership has invested extensively in renovations and major mechanical improvements, minimizing near-term capital expenditures. The property has been professionally managed with meticulous attention to maintenance, tenant retention, and operational efficiency. Located just minutes from Downtown Columbus, Nationwide Children's Hospital, Schiller Park, restaurants, coffee shops, breweries, and the heart of German Village, this walkable location continues to attract strong rental demand from professionals, healthcare employees, graduate students, and long-term residents. Current ownership is available to provide a seamless management transition and ongoing professional property management under a separate agreement, offering investors a unique opportunity to continue the property's proven operating model. Offering Memorandum available upon request. This property is Agent Owned.
Agent to Agent Remarks
This property is Agent owned and related to the other owners. Showings are permitted once we are in contract. DO NOT DISTURB TENANTS.
Agent to Agent Remarks
This property is Agent owned and related to the other owners. Showings are permitted once we are in contract. DO NOT DISTURB TENANTS.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| 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
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,900,888 | Building Class | C |
| Price Per Unit | $190,089 | Lot Size | 0.59 AC |
| Sale Type | Investment | Building Size | 7,688 SF |
| Cap Rate | 5.61% | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1963 |
| Property Subtype | Apartment | Parking Ratio | 1.04/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | Zoning: R-2F - Use Code: 401 - APARTMENT:4-19 UNITS | ||
| Price | $1,900,888 |
| Price Per Unit | $190,089 |
| Sale Type | Investment |
| Cap Rate | 5.61% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.59 AC |
| Building Size | 7,688 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 1.04/1,000 SF |
| Zoning | Zoning: R-2F - Use Code: 401 - APARTMENT:4-19 UNITS |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | - |
| 2+1 | 8 | - | - |
1 1
Moderately walkable
70/100
Moderately drivable
60/100
Limited public transit
30/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 010-023943 | Total Assessment | $287,350 |
| Land Assessment | $75,670 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $211,680 | Tax Year | 2025 |
Property Taxes
Parcel Number
010-023943
Land Assessment
$75,670
Improvements Assessment
$211,680
Total Assessment
$287,350
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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