Remodeled Three-Unit Apartment
1404 Indianola Avenue Columbus, OH 43201
1404 Indianola Avenue, Columbus, OH, 43201
$569,900
For Sale
$569,900
Remodeled three-story building with two 3-bedroom units and one 2-bedroom unit, all 100% leased.
Property Size2,726 SF
Price / SF$209.06
Days on Market222
Property Features for 1404 Indianola Avenue
General Information
- Standard status
- Active
- Size
- 2,726 SF
- Property subtype
- Multi-Family / Apartment
Building Details
- Year Built
- 1906
Listing agency
Best Homes Real Estate Ltd.
(614) 270-3745
Listed by
Michael Scotti · License #2014003922
(614) 270-3745
Source
Compass
Added: Dec 13, 2025 Updated: Jul 22 at 6:19AM Checked: Jul 22 at 6:19AM
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 Best Homes Real Estate Ltd.
Investment Insights
Based on property information with market context.
This remodeled three-story apartment building is designed for residential income, with two 3-bedroom apartments and one 2-bedroom apartment. The property is currently 100% leased. There are four designated off-street parking spots for tenant use.
The offering is for purchase, and the public remarks request that prospective buyers do not disturb tenants. Curb offers only.
The current configuration provides a mix of apartment bedroom counts across three units, supporting day-to-day residential rental operations within the same building.
The offering is for purchase, and the public remarks request that prospective buyers do not disturb tenants. Curb offers only.
The current configuration provides a mix of apartment bedroom counts across three units, supporting day-to-day residential rental operations within the same building.
Key Highlights
- Three‑story remodeled apartment building with three units: two 3‑bedroom apartments and one 2‑bedroom apartment
- Property is 100% leased with 4 designated off‑street parking spots
- Central Air and window unit cooling available in the building
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 | $35.7k | $13.08 |
| − Vacancy | −$2.5k | −$0.92 |
| EGI | $33.2k | $12.16 |
| − OpEx | −$9.9k | −$3.65 |
| NOI | $23.2k | $8.52 |
2,726 SF · lease $13.08/SF/yr · vacancy 7.00% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$331.6K
$290.2K – $386.9K
NOI $23,212 @ 7.0% cap · market cap 4.07%
Second Best
Apartment 5plus
$266.8K
$233.4K – $311.2K
NOI $18,673 @ 7.0% cap · market cap 3.28%
Theoretical Best
Office A
$568.1K
$497.1K – $662.8K
NOI $39,768 @ 7.0% cap · market cap 6.98%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Remodeled three-story building with two 3-bedroom units and one 2-bedroom unit, all 100% leased.
Where is this triplex located?
The property is located at 1404 Indianola Avenue Columbus, OH.
What is the asking price?
The asking price for this property is $569,900.
What are key features of this property?
This property features: Three‑story remodeled apartment building with three units: two 3‑bedroom apartments and one 2‑bedroom apartment; Property is 100% leased with 4 designated off‑street parking spots; Central Air and window unit cooling available in the building
