South Columbus Multifamily Investment
For Sale
Contact for pricing
Pending
1805 S 6th St, Columbus, OH 43207
Four-unit property with rental upside in developing Columbus location.
Property Size2,080 SF
Days on Market585
Property Features for 1805 S 6th St
General Information
Standard status
Pending
Size
2,080 SF
Class
C
Property subtype
Multifamily
Zoning
multi family
Occupancy
100%
Investment Type
Value Add
Net Operating Income
$25,000
Building Details
Year Built
1900
Year Renovated
2020
Buildings
1
Stories
2
Listing Agency:
Vision Realty, Inc.
Listed By:
Dylan Walker · License #2022004024
Source:
Crexi
Added: Jan 22, 2025
Changed: Aug 8
Last Checked: Aug 29 at 10:10PM
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 Vision Realty, Inc.
Investment Insights
Based on property information with market context.
This multifamily property, located on the south side of Columbus, features four units. Each unit contains one bedroom and one bathroom. Currently, all four units are rented, presenting an opportunity to increase cash flow by raising rents to market rates. The existing rents are below market value: unit 1803 is rented at $750.00 plus $60.00 for water, unit 1803 1/2 is rented at $700.00 plus $60.00 for water, unit 1805 is rented at $600.00 plus $60.00 for water, and unit 1805 1/2 is rented at $550.00 plus $35.00 for water. The property is situated in an area with ongoing development, including a 245-unit apartment complex under construction nearby, which is expected to increase the value of surrounding properties upon completion. The property size is 2080 square feet.
Key Highlights
- Opportunity to increase rental income by raising rents to market value.
- All 4 units are currently rented, providing immediate income.
- Located in an area with ongoing development, including a 245‑unit apartment complex under construction nearby.
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
$23,434
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
7.66%
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%
$468,680
$468.7K
Cap Rate 7%
$334,771
$334.8K
Cap Rate 9%
$260,378
$260.4K
Market Conditions
NOI Build-Up for 2,080 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
$36.2K $17.40/SF
− Vacancy
−$2.7K −$1.31/SF
EGI
$33.5K $16.10/SF
− OpEx
−$10.0K −$4.83/SF
NOI
$23.4K $11.27/SF
Area
ZIP 43207
Vacancy
7.50%
Lease Rate
$17.40 /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%
$468,680
Cap Rate 7%
$334,771
Cap Rate 9%
$260,378
Alternative Uses
Best Use
Multifamily LT 5
$334.8K
$292.9K – $390.6K
NOI $23,434 @ 7.0% cap · market cap 7.66%
Second Best
Apartment 5plus
$307.1K
$268.7K – $358.2K
NOI $21,494 @ 7.0% cap · market cap 7.02%
Theoretical Best
Warehouse
$419.2K
$366.8K – $489.1K
NOI $29,346 @ 7.0% cap · market cap 9.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
642
Businesses Nearby
Explore this area
Business Placement
Demographics for 43207, OH
46,853
Population
21,242
Households
2.2
Avg Household Size
38
Median Age
16%
College-Educated
85%
High-School Grad
23.1 sq mi
ZIP Area
2,028
Density / Sq Mi
$61,307
Median Household Income
$40,037
Median Earnings
$1,115
Median Rent
$156,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit property with rental upside in developing Columbus location.
Where is this quadplex located?
The property is located at 1805 S 6th St Columbus, OH.
What is the asking price?
The asking price for this property is $306,000.
What are key features of this property?
This property features: Opportunity to increase rental income by raising rents to market value.; All 4 units are currently rented, providing immediate income.; Located in an area with ongoing development, including a 245‑unit apartment complex under construction nearby.
