South Columbus Multifamily Investment
1805 S 6th St, Columbus, OH 43207
Four-unit property with rental upside in developing Columbus location.
Type:Multifamily
Property size:
2,080 SFPrice / SF:
$147/SF- Added:
- Jan 22, 2025
- Days on Market:
- 494
- Last Refresh:
- May 13 at 8:05 pm
Property Features for 1805 S 6th St
General Information
- Standard status
- Active
- Size
- 2,080 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1900
Listing agent Dylan Walker License #2022004024
Listing office Vision Realty, Inc.
Listing date Jan 22, 2025
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Vision Realty, Inc.
HighLights
- Opportunity to increase rental income by raising rents to market value.
- All 4 units are currently rented, providing immediate income.
- Located in an area with ongoing development, including a 245‑unit apartment complex under construction nearby.
- Each unit features one bedroom and one bathroom.
- Property located on the south side of Columbus.
- Year built: 1900
Overview
This multifamily property, located on the south side of Columbus, features four units. Each unit contains one bedroom and one bathroom. Currently, all four units are rented, presenting an opportunity to increase cash flow by raising rents to market rates. The existing rents are below market value: unit 1803 is rented at $750.00 plus $60.00 for water, unit 1803 1/2 is rented at $700.00 plus $60.00 for water, unit 1805 is rented at $600.00 plus $60.00 for water, and unit 1805 1/2 is rented at $550.00 plus $35.00 for water. The property is situated in an area with ongoing development, including a 245-unit apartment complex under construction nearby, which is expected to increase the value of surrounding properties upon completion. The property size is 2080 square feet.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $36.2k | $17.40 |
| − Vacancy | −$2.7k | −$1.31 |
| EGI | $33.5k | $16.10 |
| − OpEx | −$10.0k | −$4.83 |
| NOI | $23.4k | $11.27 |
2,080 SF · lease $17.40/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$334.8K
$292.9K – $390.6K
NOI $23,434 @ 7.0% cap · market cap 7.66%
Second Best
Apartment 5plus
$307.1K
$268.7K – $358.2K
NOI $21,494 @ 7.0% cap · market cap 7.02%
Theoretical Best
Warehouse
$419.2K
$366.8K – $489.1K
NOI $29,346 @ 7.0% cap · market cap 9.59%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Location Insight
- Map
- Local Demand
- City
- Columbus
- County
- Delaware
- State
- Ohio
- Longitude
- -82.9909336
- Latitude
- 39.9256354
Nearby Similar for Sale
FAQs
What type of property is this?
Quadplex - Four-unit property with rental upside in developing Columbus location.
Where is this quadplex located?
The property is located at 1805 S 6th St Columbus, OH.
What is the asking price?
The asking price for this property is $306,000.
What are key features of this property?
This property features: Opportunity to increase rental income by raising rents to market value.; All 4 units are currently rented, providing immediate income.; Located in an area with ongoing development, including a 245‑unit apartment complex under construction nearby.
