Eastmoor Multifamily Value-Add
For Sale
$730,000
3349-3361 E Broad St, Columbus, OH 43213
Six-unit apartment building in Columbus' Eastmoor neighborhood, offering value-add potential.
Property Size9,416 SF
Lot Size0.40 Acres
Price / SF$132.10
Days on Market252
Property Features for 3349-3361 E Broad St
General Information
Standard status
Active
Size
9,416 SF
Lot size
0.40 Acres
Property subtype
Multifamily
Building Details
Building Size
9,416 SF
Year Built
1940
Listing Agency:
NAI Ohio Equities, LLC
Listed By:
Peter Merkle · License #439173
(614) 218-3520
Source:
Ohioequities
Added: Jan 27
Changed: Oct 1
Last Checked: Oct 5 at 4:18PM
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 NAI Ohio Equities, LLC
Investment Insights
Based on property information with market context.
Located in the Eastmoor neighborhood of Columbus, this 6-unit garden-style multifamily building at 3357–3361 E Broad Street contains approximately 5,526 square feet on a 0.40-acre lot. The building features four 1-bedroom/1-bath units and two 2-bedroom/1-bath units. A detached 6-car garage provides one parking space per unit. Situated along E Broad Street, the property benefits from the city’s initiative to promote greater housing density and mixed-use development along transit corridors. Zoned Mixed-Use (UGN-1) and currently in receivership, the property represents a value-add opportunity for investors seeking to unlock income potential through renovation and strategic lease-up. The location offers high visibility and accessibility in the heart of the Eastmoor neighborhood, a high-traffic thoroughfare connecting Downtown Columbus to Bexley, Whitehall, and I-270. The property is surrounded by residential communities, retailers, local businesses, and medical offices. With access to I-70, I-670, and John Glenn Columbus International Airport, the location is positioned for commuters and destination traffic. This east side location also benefits from its proximity to Bexley and Mount Carmel East Hospital.
Key Highlights
- Value‑add opportunity through renovation and strategic lease‑up in a strong rental market.
- Located in Columbus' Eastmoor neighborhood within the new Zone In rezoning area.
- Six‑unit garden‑style apartment building with a mix of 1‑bedroom and 2‑bedroom units.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,852
Cap Rate
5.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$757,040
$757.0K
Cap Rate 7%
$540,743
$540.7K
Cap Rate 9%
$420,578
$420.6K
Market Conditions
NOI Build-Up for 5,526 SF
Gross rent
$73.6K $13.32/SF
− Vacancy
−$4.8K −$0.87/SF
EGI
$68.8K $12.45/SF
− OpEx
−$31.0K −$5.60/SF
NOI
$37.9K $6.85/SF
Area
Columbus, OH
Vacancy
6.50%
Lease Rate
$13.32 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$757,040
Cap Rate 7%
$540,743
Cap Rate 9%
$420,578
Alternative Uses
Best Use
Apartment 5plus
$540.7K
$473.2K – $630.9K
NOI $37,852 @ 7.0% cap · market cap 5.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.15M
$1.01M – $1.34M
NOI $80,615 @ 7.0% cap · market cap 11.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
491
Businesses Nearby
Explore this area
Business Placement
Demographics for 43213, OH
35,105
Population
17,069
Households
2.1
Avg Household Size
37
Median Age
23%
College-Educated
90%
High-School Grad
10.3 sq mi
ZIP Area
3,408
Density / Sq Mi
$53,908
Median Household Income
$37,753
Median Earnings
$1,107
Median Rent
$197,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - Six-unit apartment building in Columbus' Eastmoor neighborhood, offering value-add potential.
Where is this apartment building located?
The property is located at 3349-3361 E Broad St Columbus, OH.
What is the asking price?
The asking price for this property is $730,000.
What are key features of this property?
This property features: Value‑add opportunity through renovation and strategic lease‑up in a strong rental market.; Located in Columbus' Eastmoor neighborhood within the new Zone In rezoning area.; Six‑unit garden‑style apartment building with a mix of 1‑bedroom and 2‑bedroom units.
