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12 Unit + 1 Commercial space 548 W State St 12 Unit Apartment Building $4,200,000 ($350,000/Unit) Columbus, OH 43215
INVESTMENT HIGHLIGHTS
- Turnkey opportunity
- Ideally positioned for long-term appreciation and income growth
- Significant upside as rents are currently under market
EXECUTIVE SUMMARY
Exceptional Investment Opportunity in Franklinton!
Built in 2019, this modern 12-unit apartment building plus 1 commercial space offers an outstanding turnkey opportunity in one of Columbus's fastest-growing neighborhoods. The property features twelve 1-bedroom, 1-bath units with tenant-paid utilities and strong occupancy — currently 100%. Designed for low-maintenance ownership, the building provides solid cash flow with significant upside as rents are currently under market.
Located at 548 W State Street, it provides direct access to the heart of Franklinton's vibrant arts district and all that downtown Columbus has to offer and major downtown employers.
With continued neighborhood revitalization, new development, and rising rental demand, this property is ideally positioned for long-term appreciation and income growth. Whether you're an experienced investor seeking a stabilized asset with value-add potential or expanding your Columbus portfolio, 548 W State presents a rare opportunity to own a newer-construction multifamily property in a premier urban location.
The property is located in a Qualified Opportunity Zone. Any new owners/investors will receive a one time 10% state of Ohio tax credit on equity and debt. The property also qualifies for federal opportunity zone tax credit on capital gains. Tax Abatement in place until 2034 per auditor. The owners finalized the build out of the 1500 sqft commercial space in Feb 2025.
A marketing website for tenant applicants will transfer to new buyers: https://www.548weststate.com/
Please contact Jay Richardson at jayrich98@gmail.com or 614.634.3983 to request financials and for any other inquiries.
Built in 2019, this modern 12-unit apartment building plus 1 commercial space offers an outstanding turnkey opportunity in one of Columbus's fastest-growing neighborhoods. The property features twelve 1-bedroom, 1-bath units with tenant-paid utilities and strong occupancy — currently 100%. Designed for low-maintenance ownership, the building provides solid cash flow with significant upside as rents are currently under market.
Located at 548 W State Street, it provides direct access to the heart of Franklinton's vibrant arts district and all that downtown Columbus has to offer and major downtown employers.
With continued neighborhood revitalization, new development, and rising rental demand, this property is ideally positioned for long-term appreciation and income growth. Whether you're an experienced investor seeking a stabilized asset with value-add potential or expanding your Columbus portfolio, 548 W State presents a rare opportunity to own a newer-construction multifamily property in a premier urban location.
The property is located in a Qualified Opportunity Zone. Any new owners/investors will receive a one time 10% state of Ohio tax credit on equity and debt. The property also qualifies for federal opportunity zone tax credit on capital gains. Tax Abatement in place until 2034 per auditor. The owners finalized the build out of the 1500 sqft commercial space in Feb 2025.
A marketing website for tenant applicants will transfer to new buyers: https://www.548weststate.com/
Please contact Jay Richardson at jayrich98@gmail.com or 614.634.3983 to request financials and for any other inquiries.
PROPERTY FACTS
| Price | $4,200,000 | Building Class | B |
| Price Per Unit | $350,000 | Lot Size | 0.11 AC |
| Sale Type | Investment | Building Size | 9,280 SF |
| No. Units | 12 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2020 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | C | ||
| Price | $4,200,000 |
| Price Per Unit | $350,000 |
| Sale Type | Investment |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.11 AC |
| Building Size | 9,280 SF |
| No. Stories | 3 |
| Year Built | 2020 |
| Opportunity Zone |
Yes |
| Zoning | C |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Disposal
- Microwave
- Ceiling Fans
- Kitchen
- High Speed Internet Access
SITE AMENITIES
- Clubhouse
- Fitness Center
- Laundry Facilities
- Property Manager on Site
- Maintenance on site
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 12 | - | 502 - 577 |
Bike Score®
Very Bikeable (82)
PROPERTY TAXES
| Parcel Number | 010-010589 | Improvements Assessment | $579,530 |
| Land Assessment | $16,100 | Total Assessment | $595,630 |
PROPERTY TAXES
Parcel Number
010-010589
Land Assessment
$16,100
Improvements Assessment
$579,530
Total Assessment
$595,630
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Presented by
Jeffrey Krider, Broker
12 Unit + 1 Commercial space | 548 W State St
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