Renovated 4-Unit Apartment
For Sale
$399,900
1287 Sullivant Avenue, Columbus, OH 43223
Four two-bedroom residences feature updated kitchens, appliances, flooring, and baths.
Property Size2,768 SF
Price / SF$144.47
Days on Market26
Property Features for 1287 Sullivant Avenue
General Information
Standard status
Active
Size
2,768 SF
Property subtype
Apartment
Site & Location
Neighborhood
Franklinton
Units
Unit Mix
4 x 2BR
Multifamily Units
4
Additional Details
Asking Price
$399,900
Taxes and HOA fees
Annual Taxes
$2,279
Building Details
Year Built
1930
Year Renovated
2024
Construction
brick
Listing Agency:
Coldwell Banker Realty
Listed By:
Angel R Perez · License #2012002983
(614) 843-0891
Source:
Ologyrealty
Added: Oct 8
Changed: Oct 30
Last Checked: Oct 30 at 2:22PM
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 Coldwell Banker Realty
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Investment Insights
Based on property information with market context.
This brick apartment property contains four two-bedroom units across 2,768 square feet. Renovation work completed in 2024 includes white shaker cabinets, stainless steel appliances, LVP flooring, and updated bathrooms. The building dates to 1930.
Key Highlights
- Four two‑bedroom units
- 2,768 square feet total
- Brick apartment building renovated in 2024
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,570
Cap Rate
5.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$471,400
$471.4K
Cap Rate 7%
$336,714
$336.7K
Cap Rate 9%
$261,889
$261.9K
Market Conditions
NOI Build-Up for 2,768 SF
Gross rent
$36.2K $13.08/SF
− Vacancy
−$2.5K −$0.92/SF
EGI
$33.7K $12.16/SF
− OpEx
−$10.1K −$3.65/SF
NOI
$23.6K $8.52/SF
Area
Columbus, OH
Vacancy
7.00%
Lease Rate
$13.08 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$471,400
Cap Rate 7%
$336,714
Cap Rate 9%
$261,889
Alternative Uses
Best Use
Multifamily LT 5
$336.7K
$294.6K – $392.8K
NOI $23,570 @ 7.0% cap · market cap 5.89%
Second Best
Apartment 5plus
$270.9K
$237.0K – $316.0K
NOI $18,960 @ 7.0% cap · market cap 4.74%
Theoretical Best
Office A
$576.9K
$504.8K – $673.0K
NOI $40,381 @ 7.0% cap · market cap 10.10%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
758
Businesses Nearby
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Business Placement
Demographics for 43223, OH
27,951
Population
10,662
Households
2.6
Avg Household Size
35
Median Age
11%
College-Educated
77%
High-School Grad
10.0 sq mi
ZIP Area
2,795
Density / Sq Mi
$45,902
Median Household Income
$32,509
Median Earnings
$1,063
Median Rent
$113,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Four two-bedroom residences feature updated kitchens, appliances, flooring, and baths.
Where is this quadplex located?
The property is located at 1287 Sullivant Avenue Columbus, OH.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Four two‑bedroom units; 2,768 square feet total; Brick apartment building renovated in 2024
