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661 Kingsford Rd 18 Unit Apartment Building $1,260,000 ($70,000/Unit) Columbus, OH 43204
Investment Highlights
- Well-Located 18-Unit Multifamily Asset: Garden-style apartment community constructed in 1974
- In-Place Cash Flow with Upside: Average in-place rents of $818 per unit are meaningfully below current market levels
- Strong Rental Demand: Columbus benefits from steady population growth, a diverse employment base, and sustained renter demand
- Attractive Unit Mix: The property consists of 12 one-bedroom units and 6 two-bedroom units
- Value-Add Opportunity: Investors can increase NOI through mark-to-market rent growth, targeted interior enhancements
- Compelling Investment Profile: An attractive opportunity for investors seeking a value-add
Executive Summary
Broker of Record
Matt Wallace
License # REC.2022007141 (OH)
Matthews Real Estate Investment Services, Inc
950 Main Ave., Suite 510, Cleveland, OH 44113
(866) 889-0550
Matt Wallace
License # REC.2022007141 (OH)
Matthews Real Estate Investment Services, Inc
950 Main Ave., Suite 510, Cleveland, OH 44113
(866) 889-0550
Property Facts Under Contract
| Price | $1,260,000 | Building Class | C |
| Price Per Unit | $70,000 | Lot Size | 0.49 AC |
| Sale Type | Investment | Building Size | 10,944 SF |
| No. Units | 18 | Average Occupancy | 94% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1974 |
| Apartment Style | Low-Rise | Parking Ratio | 1.25/1,000 SF |
| Zoning | C | ||
| Price | $1,260,000 |
| Price Per Unit | $70,000 |
| Sale Type | Investment |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.49 AC |
| Building Size | 10,944 SF |
| Average Occupancy | 94% |
| No. Stories | 3 |
| Year Built | 1974 |
| Parking Ratio | 1.25/1,000 SF |
| Zoning | C |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Disposal
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Tub/Shower
- Walk-In Closets
- Carpet
- Freezer
- Vinyl Flooring
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Tanning Salon
- Smoke Free
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | - | - |
| 2+1 | 6 | - | - |
1 1
Property Taxes
| Parcel Numbers | Improvements Assessment | $189,420 | |
| Land Assessment | $14,990 | Total Assessment | $204,410 |
Property Taxes
Parcel Numbers
Land Assessment
$14,990
Improvements Assessment
$189,420
Total Assessment
$204,410
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661 Kingsford Rd
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