1490 Elaine Road #1462 Columbus, OH 43227

Building Details

Year Built

1965

Listing agency Verti Commercial Real Estate b***@verticre.com Show Phone

Listed by Brett Ludwig · License #OH 2016004572

Source Crexi

Added: Oct 20, 2025 Updated: Jul 21 at 3:32PM Checked: Jul 21 at 3:32PM

Report an Issue

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 Verti Commercial Real Estate

---

Investment Insights

Based on property information with market context.

This recently renovated, stabilized multifamily asset totals 40 apartment units. The property reports average rent of $1,128, and includes $700,000 in capital improvements completed to modernize the buildings. The current business plan focuses on further renovating and repositioning 13 units that are leased below $1,000, with an objective of increasing rents toward market levels upon turnover.

Located in Columbus, OH, the offering is positioned around an already-in-place tenant base and a value-add renovation strategy centered on bringing under-market units up to market.

As described, the remaining rent growth concept is tied to mark-to-market adjustments through renovation of select in-place units, supplementing the improvements already completed.

Key Highlights

• Recently renovated stabilized 40‑unit multifamily property
• Reported average rent is $1,128 (with plans to push monthly rents toward $1,350)
• 13 units are currently leased below $1,000 and targeted for renovation and mark‑to‑market to near $1,350 upon turnover

Property Analytics

Location Intelligence

Similar For Sale Nearby

• 

  $1,089,000

  5,867 SF

  Medical Office and Counseling Building

  Recently renovated office space at 845 West Broad Street includes private offices, conference rooms, and waiting areas.

  845 West Broad Street, Columbus, OH 43222

  View Details
• 

  $2,650,000

  7,500 SF

  Flex Office & Multi-Bay Garage

  Turnkey office suites and a 7-bay garage provide front-office and storage functionality in one package.

  880 King Ave & 896 King Ave, Columbus, OH 43212

  View Details
• 

  $2,995,000

  12,991 SF

  Single-Story Medical Office Building

  All-brick, single-story medical office building within a three-building professional campus and built for patient and staff parking convenience.

  2150 Marble Cliff Office Park, Columbus, OH 43215

  View Details
• 

  $1,575,000

  13,200 SF

  Warehouse-Office Flex Building

  Flex warehouse and office building with fenced outdoor storage, drive-in door, and a large paved parking lot.

  1885 - 1895 S High St, Columbus, OH 43207

  View Details
• 

  $150,000

  4,120 SF

  Retail Storefront with Basement Storage

  Leased retail space built for furniture and appliance sales, featuring a basement storage area, cooking hood, and remodeled restroom.

  744 Harrisburg Pike, Columbus, OH 43223

  View Details
• 

  $5,074,634

  13,806 SF

  Columbus Retail Strip Center

  13,806 SF retail strip center in Columbus, Ohio.

  4030-4038 Morse Rd, Columbus, OH 43219

  View Details
• 

  $575,000

  1,098 SF

  High-Visibility Endcap Retail Suite

  Endcap unit offers a wide-open retail interior, restroom, small storage/office, and a secured separate employee entrance.

  845 N High St, Columbus, OH 43215

  View Details
• 

  $2,150,000

  10,490 SF

  Columbus Medical Office Building For Sale

  Single-story medical office building with two suites and ample parking.

  6503 E Broad St, Columbus, OH 43213

  View Details
• 

  $800,000

  6,194 SF

  Freestanding Retail Building with Apartments

  Zoned C, this 1925 freestanding building combines retail space with walk-up apartments above.

  1771-1773 W 5th Ave, Columbus, OH 43212

  View Details
• 

  $2,250,000

  9,662 SF

  Medical/Office Building Investment Opportunity

  9,662 SF medical/office building for sale in Columbus, OH

  55 Dillmont Dr Columbus, OH 43235

  View Details
• 

  $500,000

  9,152 SF

  Art Deco Warehouse with Loft

  Art Deco warehouse with an office-convertible loft, drive-in access, and ample on-site parking on three parcels.

  1991 South Champion Avenue, Columbus, OH 43207

  View Details
• 

  $1,150,000

  7,430 SF

  Stand Alone Office Building

  Standalone office building with large windows, covered parking, and prominent monument signage along Dublin Road.

  1375 Dublin Rd, Columbus, OH 43215

  View Details

FAQs

What type of property is this?

Apartment building - Renovated stabilized 40-unit multifamily property with average rents currently reported at $1,128.

Where is this apartment building located?

The property is located at 1490 Elaine Road #1462 Columbus, OH.

What is the asking price?

The asking price for this property is $4,500,000.

What are key features of this property?

This property features: Recently renovated stabilized 40‑unit multifamily property; Reported average rent is $1,128 (with plans to push monthly rents toward $1,350); 13 units are currently leased below $1,000 and targeted for renovation and mark‑to‑market to near $1,350 upon turnover