Riverfront Triplex
3480 Ostrander Road Ostrander, OH 43061
3480 Ostrander Road, Ostrander, OH, 43061
$700,000
For Sale
$700,000
Three updated two-story units with balconies overlooking the river on a private multi-acre setting.
Property Size3,604 SF
Price / SF$194.23
Days on Market656
Property Features for 3480 Ostrander Road
General Information
- Standard status
- Active
- Size
- 3,604 SF
- Property subtype
- Multi-Family / Townhouse
Building Details
- Year Built
- 1976
Listing agency
Key Realty
(614) 402-2697
Listed by
John W Moore · License #2006004101
(614) 402-2697
Source
Compass
Added: Oct 5, 2024 Updated: Jul 10 at 1:52PM Checked: Jul 22 at 6:13AM
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 Key Realty
Investment Insights
Based on property information with market context.
This riverfront triplex features three updated, two-story residential units on a private parcel described as almost 5 acres. Each unit is configured with spacious layouts, modern finishes, and a balcony designed for outdoor enjoyment with river views. The property has been well maintained and is presented as ready for a new owner.
The asset is located at 3480 Ostrander Road in Ostrander, Ohio, positioned between Delaware and Marysville. The riverfront setting and private land contribute to a quieter residential environment while still keeping the property within reach of the surrounding communities.
For buyers, the existing triplex layout supports an owner-occupant or investor scenario where multiple units can be operated under one ownership. The seller also notes the possibility of converting the property to a single-family residence on the river, offering flexibility for a future change in use. If you’re looking for a maintained multi-family property with riverfront outdoor space, this triplex is a practical option to consider.
The asset is located at 3480 Ostrander Road in Ostrander, Ohio, positioned between Delaware and Marysville. The riverfront setting and private land contribute to a quieter residential environment while still keeping the property within reach of the surrounding communities.
For buyers, the existing triplex layout supports an owner-occupant or investor scenario where multiple units can be operated under one ownership. The seller also notes the possibility of converting the property to a single-family residence on the river, offering flexibility for a future change in use. If you’re looking for a maintained multi-family property with riverfront outdoor space, this triplex is a practical option to consider.
Key Highlights
- Three updated, two‑story units in a multi‑family riverfront triplex
- Each unit includes a balcony with views of the river
- Property sits on almost 5 acres of private land
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 | $51.5k | $14.28 |
| − Vacancy | −$6.7k | −$1.86 |
| EGI | $44.8k | $12.42 |
| − OpEx | −$13.4k | −$3.73 |
| NOI | $31.3k | $8.70 |
3,604 SF · lease $14.28/SF/yr · vacancy 13.01% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$447.7K
$391.7K – $522.3K
NOI $31,339 @ 7.0% cap · market cap 4.48%
Second Best
Apartment 5plus
$410.6K
$359.2K – $479.0K
NOI $28,739 @ 7.0% cap · market cap 4.11%
Theoretical Best
Warehouse
$726.4K
$635.6K – $847.5K
NOI $50,848 @ 7.0% cap · market cap 7.26%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Three updated two-story units with balconies overlooking the river on a private multi-acre setting.
Where is this triplex located?
The property is located at 3480 Ostrander Road Ostrander, OH.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Three updated, two‑story units in a multi‑family riverfront triplex; Each unit includes a balcony with views of the river; Property sits on almost 5 acres of private land
