Four-Unit Quadplex with
New
For Sale
$709,900
1766 King Avenue, Columbus, OH 43212
Fully occupied one-bedroom units include private basement storage, tenant-provided laundry equipment, and off-street parking.
Property Size3,824 SF
Price / SF$185.64
Days on Market4
Property Features for 1766 King Avenue
General Information
Standard status
Active
Size
3,824 SF
Property subtype
Multi-family
Occupancy
100%
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Building Details
Year Built
1931
Listing Agency:
The Brokerage House
(567) 395-5762
Listed By:
Cameron Smith
(567) 395-5762
Source:
Maryhatem
Added: Aug 28
Changed: Aug 30
Last Checked: Aug 30 at 5:28PM
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 The Brokerage House
Investment Insights
Based on property information with market context.
Built in 1931, this quadplex contains four one-bedroom, one-bath residences totaling approximately 3,824 square feet. Original hardwood flooring and period architectural elements contribute to the building’s established character. Each unit has a designated, lockable storage area in the basement, where tenant-provided washers and dryers are located. A carport adds off-street parking for occupants.
All four units are currently rented. Two residences have each had tenants in place for approximately 14-15+ years, providing a documented history of long-term occupancy. The property is located at 1766 King Avenue in Columbus, near Ohio State, Grandview, downtown, the Short North, and 315.
All four units are currently rented. Two residences have each had tenants in place for approximately 14-15+ years, providing a documented history of long-term occupancy. The property is located at 1766 King Avenue in Columbus, near Ohio State, Grandview, downtown, the Short North, and 315.
Key Highlights
- Four one‑bedroom, one‑bath units totaling approximately 3,824 square feet
- Built in 1931 with original hardwood floors and architectural details
- All four units are currently rented
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$32,562
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.59%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$651,240
$651.2K
Cap Rate 7%
$465,171
$465.2K
Cap Rate 9%
$361,800
$361.8K
Market Conditions
NOI Build-Up for 3,824 SF
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.
Gross rent
$50.0K $13.08/SF
− Vacancy
−$3.5K −$0.92/SF
EGI
$46.5K $12.16/SF
− OpEx
−$14.0K −$3.65/SF
NOI
$32.6K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$651,240
Cap Rate 7%
$465,171
Cap Rate 9%
$361,800
Alternative Uses
Best Use
Multifamily LT 5
$465.2K
$407.0K – $542.7K
NOI $32,562 @ 7.0% cap · market cap 4.59%
Second Best
Apartment 5plus
$374.2K
$327.4K – $436.6K
NOI $26,194 @ 7.0% cap · market cap 3.69%
Theoretical Best
Office A
$796.9K
$697.3K – $929.8K
NOI $55,786 @ 7.0% cap · market cap 7.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,275
Businesses Nearby
Explore this area
Business Placement
Demographics for 43212, OH
24,171
Population
13,506
Households
1.8
Avg Household Size
30
Median Age
78%
College-Educated
98%
High-School Grad
3.7 sq mi
ZIP Area
6,533
Density / Sq Mi
$74,952
Median Household Income
$59,037
Median Earnings
$1,382
Median Rent
$514,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied one-bedroom units include private basement storage, tenant-provided laundry equipment, and off-street parking.
Where is this quadplex located?
The property is located at 1766 King Avenue Columbus, OH.
What is the asking price?
The asking price for this property is $709,900.
What are key features of this property?
This property features: Four one‑bedroom, one‑bath units totaling approximately 3,824 square feet; Built in 1931 with original hardwood floors and architectural details; All four units are currently rented
