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4090-4096 Cleveland Ave
Columbus, OH 43224
Morse Creek Commons · Multifamily Property For Sale
·
70 Units
Executive Summary
Morse Creek Commons, Columbus, Ohio.
70 - Two Bedroom Townhomes. Super high rental demand. Long term Owner/Seller with long term tenants. All brick exterior. Plenty of off street parking. Suburban location on popular north Columbus location. High visibility. Currents rents are super low and there is plenty of upside potential.
Current rents average only $740 per month. Average in area is $975 to $1025 per month. Potential for much higher income if repairs are attended to. The property needs cosmetic upgrades and other repairs which will boost rents to area standards. This is a value-add opportunity. Please call or email for more information. SELLER PREFERS CASH AT CLOSING PROPOSALS ONLY. Thanks!
70 - Two Bedroom Townhomes. Super high rental demand. Long term Owner/Seller with long term tenants. All brick exterior. Plenty of off street parking. Suburban location on popular north Columbus location. High visibility. Currents rents are super low and there is plenty of upside potential.
Current rents average only $740 per month. Average in area is $975 to $1025 per month. Potential for much higher income if repairs are attended to. The property needs cosmetic upgrades and other repairs which will boost rents to area standards. This is a value-add opportunity. Please call or email for more information. SELLER PREFERS CASH AT CLOSING PROPOSALS ONLY. Thanks!
Property Facts Under Contract
| Price Per Unit | $67,857 | Lot Size | 3.69 AC |
| Sale Type | Investment | Building Size | 70,000 SF |
| Cap Rate | 6.33% | Average Occupancy | 94% |
| No. Units | 70 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1974 |
| Property Subtype | Apartment | Parking Ratio | 1/1,000 SF |
| Apartment Style | Townhome | Opportunity Zone |
Yes
|
| Building Class | C | ||
| Zoning | ARLD - Suitable for Multi Family | ||
| Price Per Unit | $67,857 |
| Sale Type | Investment |
| Cap Rate | 6.33% |
| No. Units | 70 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Lot Size | 3.69 AC |
| Building Size | 70,000 SF |
| Average Occupancy | 94% |
| No. Stories | 2 |
| Year Built | 1974 |
| Parking Ratio | 1/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | ARLD - Suitable for Multi Family |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Carpet
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Maintenance on site
- Smoke Detector
Property Taxes
| Parcel Number | 010-012830 | Improvements Assessment | $763,210 |
| Land Assessment | $97,830 | Total Assessment | $861,040 |
Property Taxes
Parcel Number
010-012830
Land Assessment
$97,830
Improvements Assessment
$763,210
Total Assessment
$861,040
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