New Construction Apartment
For Sale
Contact for pricing
1378 King Ave, Columbus, OH 43212
New construction apartment complex currently 96% occupied, with projected NOI of $359,704 based on market rents.
Property SizeContact for details
Days on Market121
Property Features for 1378 King Ave
General Information
Standard status
Active
Property subtype
Multifamily
Occupancy
96%
Additional Details
Cap Rate
5.45%
Highway Access
Yes
Listing Agency:
Income Property Organization
Listed By:
Paul McHugh, J.D. · License #OH 2016005820
Source:
Crexi
Added: Apr 10
Changed: Aug 8
Last Checked: Jul 21 at 11:40PM
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 Income Property Organization
Investment Insights
Based on property information with market context.
The Woodford is a new construction apartment complex offering a mix of one-bedroom and two-bedroom units. The property is currently 96% occupied and has maintained strong historical occupancy since its development, with ownership reporting minimal management oversight. Financial projections provided indicate an IPO-projected NOI of $359,704 going forward based on market rents. Additional analysis notes one-bedroom units are renting $80 below market and two-bedroom units are $153 below market, with an estimated additional $26,544 created if rents are brought to market levels.
The property is located at 1378 King Ave in Grandview Heights, conveniently west of Route 315 and near the intersection of King Ave and Grandview Ave. The remarks state it is directly next door to Kroger, and within minutes of several big-box retailers and an array of eateries, banks, and credit unions.
The offering is described with a $6,600,000 asking price and a 5.45% cap rate, along with an indication that the asset is positioned as a value-add opportunity.
The property is located at 1378 King Ave in Grandview Heights, conveniently west of Route 315 and near the intersection of King Ave and Grandview Ave. The remarks state it is directly next door to Kroger, and within minutes of several big-box retailers and an array of eateries, banks, and credit unions.
The offering is described with a $6,600,000 asking price and a 5.45% cap rate, along with an indication that the asset is positioned as a value-add opportunity.
Key Highlights
- New construction apartment complex currently 96% occupied with projected NOI of $359,704 based on market rents
- $6,600,000 asking price with a 5.45% cap rate (projected) and IPO projection for going‑forward NOI
- Two‑bedroom units rent $153 below market; one‑bedroom units rent $80 below market; bringing rents to market could add $26,544
Property Analytics
Current Use
Lease Details
96%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,584
Businesses Nearby
Explore this area
Business Placement
Demographics for 43212, OH
24,171
Population
13,506
Households
1.8
Avg Household Size
30
Median Age
78%
College-Educated
98%
High-School Grad
3.7 sq mi
ZIP Area
6,533
Density / Sq Mi
$74,952
Median Household Income
$59,037
Median Earnings
$1,382
Median Rent
$514,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - New construction apartment complex currently 96% occupied, with projected NOI of $359,704 based on market rents.
Where is this apartment building located?
The property is located at 1378 King Ave Columbus, OH.
What are key features of this property?
This property features: New construction apartment complex currently 96% occupied with projected NOI of $359,704 based on market rents; $6,600,000 asking price with a 5.45% cap rate (projected) and IPO projection for going‑forward NOI; Two‑bedroom units rent $153 below market; one‑bedroom units rent $80 below market; bringing rents to market could add $26,544
