Four-Unit Quadplex with ADU
1392 Summit Street Columbus, OH 43201
1392 Summit Street, Columbus, OH, 43201
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For Sale
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Four 2BR/1BA units with dedicated off-street parking and separate electric and gas meters.
Property Size2,724 SF
Price / SF$218.76
Days on Market79
Property Features for 1392 Summit Street
General Information
- Standard status
- Active
- Size
- 2,724 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1973
Listing agency
Make It Great Real Estate, LLC
Listed by
Talent Pho · License #2015005499
Source
Crexi
Added: May 6 Updated: Jul 22 at 2:18AM Checked: Jul 22 at 2:18AM
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 Make It Great Real Estate, LLC
Investment Insights
Based on property information with market context.
This quadplex at 1392 Summit Street offers four 2BR/1BA units. Each unit has dedicated off-street parking, along with separate electric and gas meters. The property also includes several recent major improvements, including newer siding, windows, roof, gutters and downspouts, concrete entry steps, and select HVAC components.
The property is located in Weinland Park near Short North and The Ohio State University, within a Federal Qualified Opportunity Zone. It is also described as being zoned for an ADU, which may allow for an additional detached unit or carriage house, subject to City of Columbus zoning and permitting requirements.
For buyers seeking an income-producing setup, the current structure is built around four separate rental units, with the option for an owner-occupant to live on-site and use rental income from the other units. Buyer to verify market rates, rents, and any financial projections.
The property is located in Weinland Park near Short North and The Ohio State University, within a Federal Qualified Opportunity Zone. It is also described as being zoned for an ADU, which may allow for an additional detached unit or carriage house, subject to City of Columbus zoning and permitting requirements.
For buyers seeking an income-producing setup, the current structure is built around four separate rental units, with the option for an owner-occupant to live on-site and use rental income from the other units. Buyer to verify market rates, rents, and any financial projections.
Key Highlights
- 4‑unit property built in 1973, with four 2BR/1BA units
- Each unit has dedicated off‑street parking and separate electric and gas meters
- Recent major improvements include newer siding, windows, roof, gutters, downspouts, and concrete entry steps
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 | $35.6k | $13.08 |
| − Vacancy | −$2.5k | −$0.92 |
| EGI | $33.1k | $12.16 |
| − OpEx | −$9.9k | −$3.65 |
| NOI | $23.2k | $8.52 |
2,724 SF · lease $13.08/SF/yr · vacancy 7.00% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$331.4K
$289.9K – $386.6K
NOI $23,195 @ 7.0% cap · market cap 3.89%
Second Best
Apartment 5plus
$266.6K
$233.2K – $311.0K
NOI $18,659 @ 7.0% cap · market cap 3.13%
Theoretical Best
Office A
$567.7K
$496.7K – $662.3K
NOI $39,739 @ 7.0% cap · market cap 6.67%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
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FAQs
What type of property is this?
Quadplex - Four 2BR/1BA units with dedicated off-street parking and separate electric and gas meters.
Where is this quadplex located?
The property is located at 1392 Summit Street Columbus, OH.
What is the asking price?
The asking price for this property is $595,900.
What are key features of this property?
This property features: 4‑unit property built in 1973, with four 2BR/1BA units; Each unit has dedicated off‑street parking and separate electric and gas meters; Recent major improvements include newer siding, windows, roof, gutters, downspouts, and concrete entry steps
