5780 N Meadows Blvd 6 Unit Apartment Building $749,500 ($124,917/Unit) 7.48% Cap Rate Columbus, OH 43229

5780 N Meadows Blvd presents the opportunity to acquire a six-unit multifamily asset in the Salem Village area of Columbus, one of the Midwest's largest and most diverse metropolitan economies. The property consists of six townhome-style apartment units, each configured with two bedrooms and one bathroom, offering a residential layout that appeals to long-term renters. Located within the City of Columbus, the asset benefits from access to the region's extensive employment base, transportation network, and ongoing economic activity that continues to support housing demand across Franklin County.
The property has received numerous capital improvements that enhance its operational profile and reduce near-term maintenance requirements. Reported updates include a roof replacement in 2021, new hot water tanks, updated HVAC systems that are regularly serviced, updated windows, and 100-amp electrical panels throughout the property. Water is sub-metered, creating additional operational efficiency. Hardwood flooring and townhouse-style layouts provide a residential living experience that can support tenant retention.
Positioned within North Columbus, the property offers convenient access to major commuter routes serving downtown Columbus, The Ohio State University area, Polaris, and other major employment and retail destinations throughout the metropolitan area. Investors may also find value in the property's separate parcel configuration and the reported opportunity to pursue future condominium conversion, subject to applicable approvals and requirements. Combined with recent capital improvements and a fully built-out six-unit configuration, the asset offers an established multifamily investment opportunity within the Columbus market.