Listed by Laurel Real Estate
$7,500,000
Hawthorn Extended Stay, Columbus OH * Apartment Conversion
Details
APN 010-196701-00
Property Type Multifamily, Hospitality
Sub Type Student Housing, Apartment Building
Square Footage 28,366
Units 100
Cap Rate 10.75%
NOI $806,141
Occupancy 70.4%
Price per SqFt $264
Broker Co-Op False
Class B
Year Built 1984
Buildings 13
Stories 2
Acreage 2.980
Zoning Commercial
Parking Spaces 100 spaces
Parking Per SqFt 3.53
Investment Type Redevelopment
Occupancy Date 12/31/2024
Ownership Fee
96 UNITS * ALL SUITES WITH FULL KITCHENS * 540 SF AND 650 SF UNITS * IDEAL FOR APARTMENT CONVERSION
Marketing description
All Suites Extended Stay Hotel with full kitchens including cooking range, full size refrigerator, dishwasher, microwave, etc.
96 units - 72 studio units @ 540 sf and 24 units with 2 bedrooms, 2 bathrooms @ 650 sf.
Excellent for rebranding or redevelopment to apartments
High concentration of multifamily apartments in the area.
On bus line.
Investment highlights
96 units
Price: $7,500,000
Price per Unit: $81,250
Room Revenue: $1,914,373
Total Revenue: $2,004,611
NOI: $806,141
Cap Rate: 10.75%
Occupancy: 70.4%
ADR: $77.36
RevPAR: $54.48
Listing Contacts
Listed by Laurel Real Estate
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$806,141.00
$67,178.42/mo
Valuation Metrics
0
DSCR
10.75%
Cap Rate
10.75%
ROI
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