295 Thurman Avenue
German Village 10 unit!
Marketing description
*** Open House on Wednesday, July 15th @ 295 Thurman Avenue, Apartment A-1 from 4 - 6:00 p.m. This apartment is located in A-Bldg. (this is the 1st building closest to Thurman Avenue). ***
Rare opportunity to acquire a beautifully maintained 10-unit brick apartment building located on desirable Thurman Avenue in one of Columbus' most sought-after rental corridors. The apartments consist of 8 - 2 bedroom & 2 - 1 bedroom. All upstairs units have wooden floors. This property has 2 parking lots. Institutional-quality investment opportunity combines strong in-place income, extensive capital improvements, and exceptional long-term upside. Current operations generate a NOI of approximately $106,600, with a 5.61% cap rate at the asking price. The property features a proven mix of traditional leases and furnished monthly rentals, offering future owners multiple strategies to increase income. Pro forma operating scenarios demonstrate the potential for significant NOI growth through expanded furnished monthly rentals. Ownership has invested extensively in renovations and major mechanical improvements, minimizing near-term capital expenditures. The property has been professionally managed with meticulous attention to maintenance, tenant retention, and operational efficiency. Located just minutes from Downtown Columbus, Nationwide Children's Hospital, Schiller Park, restaurants, coffee shops, breweries, and the heart of German Village, this walkable location continues to attract strong rental demand from professionals, healthcare employees, graduate students, and long-term residents. Current ownership is available to provide a seamless management transition and ongoing professional property management under a separate agreement, offering investors a unique opportunity to continue the property's proven operating model. Offering Memorandum available upon request. This property is Agent Owned.
Agent to Agent Remarks: This property is Agent owned. Showings are permitted once we are in contract. DO NOT DISTURB TENANTS.
Investment highlights
- Institutional-quality investment opportunity combines strong in-place income, extensive capital improvements, and exceptional long-term upside
- Current operations generate a NOI of approximately $106,600, with a 5.61% cap rate at the asking price
- The property features a proven mix of traditional leases and furnished monthly rentals, offering future owners multiple strategies to increase income
- Pro forma operating scenarios demonstrate the potential for significant NOI growth through expanded furnished monthly rentals
- Ownership has invested extensively in renovations and major mechanical improvements, minimizing near-term capital expenditures
- The property has been professionally managed with meticulous attention to maintenance, tenant retention, and operational efficiency
- Located just minutes from Downtown Columbus, Nationwide Children's Hospital, Schiller Park, restaurants, coffee shops, breweries, and the heart of German Village
- Current ownership is available to provide a seamless management transition and ongoing professional property management under a separate agreement
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