Three-Unit Triplex with Renovation
9 East Norwich Avenue Columbus, OH 43201
9 East Norwich Avenue, Columbus, OH, 43201
$749,900
For Sale
$749,900
Three-unit income property with two vacant units, newer HVAC, and basements with above-grade height for potential bedroom expansion.
Property Size3,784 SF
Price / SF$198.18
Days on Market773
Property Features for 9 East Norwich Avenue
General Information
- Standard status
- Active
- Size
- 3,784 SF
- Property subtype
- Multi-Family / Midrise
Building Details
- Year Built
- 1915
Listing agency
The Columbus Agents
(614) 547-2287
Listed by
Eric J Cliffel · License #2004013142
(614) 547-2287
Source
Compass
Added: Jun 10, 2024 Updated: Jul 10 at 1:52PM Checked: Jul 22 at 10:16AM
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 The Columbus Agents
Investment Insights
Based on property information with market context.
This three-unit triplex includes three separate residential units, with basements that have roughly 3 feet above grade, creating space that may be suited for adding bedrooms during a renovation. All units will need updates, and the property also features newer HVAC units for each unit. Two of the units are vacant, making it easier to evaluate condition and access for a future layout or interior refresh.
The property offers on-street parking. Per the current information provided, one unit is on a month-to-month arrangement at $990. The two vacant units are described as easy to see.
For buyers or operators looking for a hands-on repositioning, this asset offers a straightforward conversion path through unit-by-unit updates, supported by the above-grade basement height. The presence of newer HVAC systems can help reduce near-term mechanical uncertainty, while the mix of vacant and month-to-month occupancy may support phased improvements. No owner financing is available, and CA2A is noted for information and video access.
The property offers on-street parking. Per the current information provided, one unit is on a month-to-month arrangement at $990. The two vacant units are described as easy to see.
For buyers or operators looking for a hands-on repositioning, this asset offers a straightforward conversion path through unit-by-unit updates, supported by the above-grade basement height. The presence of newer HVAC systems can help reduce near-term mechanical uncertainty, while the mix of vacant and month-to-month occupancy may support phased improvements. No owner financing is available, and CA2A is noted for information and video access.
Key Highlights
- 3‑unit income property built in 1915 with two vacant units
- One unit is month‑to‑month (M2M) rented at $990
- Basements have roughly 3 ft above grade, offering potential to add bedrooms
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 | $49.5k | $13.08 |
| − Vacancy | −$3.5k | −$0.92 |
| EGI | $46.0k | $12.16 |
| − OpEx | −$13.8k | −$3.65 |
| NOI | $32.2k | $8.52 |
3,784 SF · lease $13.08/SF/yr · vacancy 7.00% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$460.3K
$402.8K – $537.0K
NOI $32,221 @ 7.0% cap · market cap 4.30%
Second Best
Apartment 5plus
$370.3K
$324.0K – $432.0K
NOI $25,920 @ 7.0% cap · market cap 3.46%
Theoretical Best
Office A
$788.6K
$690.0K – $920.0K
NOI $55,202 @ 7.0% cap · market cap 7.36%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three-unit income property with two vacant units, newer HVAC, and basements with above-grade height for potential bedroom expansion.
Where is this triplex located?
The property is located at 9 East Norwich Avenue Columbus, OH.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: 3‑unit income property built in 1915 with two vacant units; One unit is month‑to‑month (M2M) rented at $990; Basements have roughly 3 ft above grade, offering potential to add bedrooms
