New Construction Apartment
1378 King Ave Columbus, OH 43212
1378 King Ave, Columbus, OH, 43212
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For Sale
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New construction apartment complex currently 96% occupied, with projected NOI of $359,704 based on market rents.
Days on Market104
Property Features for 1378 King Ave
General Information
- Standard status
- Active
- Property subtype
- Multifamily
Listing agency
Income Property Organization
Listed by
Paul McHugh, J.D. · License #OH 2016005820
Source
Crexi
Added: Apr 10 Updated: Jul 21 at 11:40PM 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
Location Intelligence
Current Use by Public Records
The Woodford Apartments
Apartment Building
Similar For Sale Nearby
FAQs
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
