Listed by Matthews
$2,400,000
3677 Indianola Ave
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 16,610
Units 20
Cap Rate 4.00%
Price per SqFt $144
Class C
Year Built 1966
Buildings 1
Acreage 0.330
20-Unit Clintonville Multifamily with Value-Add Upside and Strong Occupancy
Marketing description
20-unit multifamily in Clintonville, Columbus, with all one-bedroom units averaging 650 SF. Covered parking and on-site storage provide additional income. Priced at $2,400,000 ($120,000/unit, $144/SF). Strong occupancy and proven performance in a highly desirable location.
Investment highlights
- Prime Clintonville Location: Well-positioned multifamily asset located at 3677 Indianola Ave in the heart of the highly desirable Clintonville neighborhood, one of Columbus’ most sought-after rental markets known for its walkability, strong demographics, and consistent tenant demand.
- Efficient One-Bedroom Unit Mix: The property is comprised entirely of one-bedroom units, a highly liquid and desirable product type that appeals to young professionals, students, and individuals seeking housing in a premier north Columbus location.
- Strong Occupancy & Proven Performance: The property benefits from consistently strong occupancy, demonstrating the depth of renter demand in Clintonville and providing stable in-place cash flow for investors.
- Significant Rental Upside: Current in-place rents remain below market levels for the Clintonville submarket, presenting a clear opportunity to increase revenue through natural tenant turnover and strategic rent adjustments.
- Additional Income Opportunities: The property features on-site storage units that can generate supplemental income, creating an additional revenue stream beyond traditional rental income.
- Covered Parking Amenity: Residents benefit from covered parking spaces, a valuable amenity in the Clintonville market that enhances tenant appeal and provides the potential for additional fee-based income.
- Compelling Investment Opportunity: With its premium location, strong occupancy, and multiple avenues for income growth, the property offers investors a compelling value-add opportunity with long-term stability in one of Columbus’ most established neighborhoods.
Listing Contacts
Listed by Matthews
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