0 beds
Bathrooms
5,850 sqft
Listed By
Agency Name: Verti Commercial Real Estate L
Agency Phone: 380-215-6046
Agent Name: Brett A Ludwig
Shown By
Agent Name: Leslie Yoder
Agent Phone: (330) 418-3627
Agency Title: Cutler Real Estate
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Property Description
CALL FOR OFFERS BY 12/12/25This recently renovated, stabilized 40-unit asset boasts an average rent of $1,128, yet current market comparables suggest upside potential pushing monthly rents toward $1,350. The business plan centers on renovating and leasing 13 under-market units, currently leased below $1,000, to market rates approaching $1,350 upon turnover.Compelling Renovation & Upside Potential ??? $700K of capital improvements modernized the buildings, and with average rents already at $1,128, there's room to renovate further and realize $250+/unit per month rent increases. Immediate Value-Add ??? 13 existing units are leased below $1,000; renovation and mark to market strategy unlocks near-term revenue growthStrong Market Fundamentals ??? Columbus exhibits robust net absorption, balancing supply concerns, with vacancy rates stabilizing and rent growth outpacing national averages.
Property Features
Property Type: Multi Unit - Multiple
Cooling: Central Air
Days on Market: 205
Heating: Forced Air
Lot Size: 2.26 Acres
Taxes: $36,816
Year Built: 1965
Feature Descriptions
Parcel #: 010-105314
Parking: Common
Utilities: Water Available, Sewer Available, Natural Gas Available, Electricity Available, Storm Sewer
Local Schools
School District: COLUMBUS CITY
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Estimated Payment
$ 27,253.45 per month $22,872.95 Principal & Interest $3,068.00 Property Tax $1,312.50 Homeowner's InsuranceChange Payment Information
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1490 Elaine Road, Unit 1462 | MLS# 225039892
This multi-family property located at 1490 Elaine Road, Unit 1462, Columbus, OH 43227 is currently listed for sale with an asking price of $4,500,000. Elaine Road, Unit 1462 is located within the COLUMBUS CITY school district. Search Columbus real estate on lyoder.cutlerhomes.com today.