Multi-Unit Residential Income
For Sale
$574,900
1810 Ashland Avenue, Columbus, OH 43212
Two buildings totaling three units, including two 2-bedroom apartments and a detached private 1-bedroom unit.
Property Size3,412 SF
Price / SF$168.49
Days on Market176
Property Features for 1810 Ashland Avenue
General Information
Standard status
Active
Size
3,412 SF
Property subtype
Multi-Family / Duplex
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$14,464
Amenities
in-unit laundry
shared basement common area with additional bathroom
2-car garage
off-street parking
Central Air
Forced Air, Hot Water
Yes
Building Details
Year Built
1947
Tenancy
Multi
Listing Agency:
Red 1 Realty
Listed By:
Jacob V Fisk · License #2016005715
(614) 949-9680
Source:
Compass
Added: Mar 17
Changed: Sep 7
Last Checked: Sep 7 at 10:57AM
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 Red 1 Realty
Investment Insights
Based on property information with market context.
This multi-building residential income property includes two buildings and three total units. The main building has two separate 2-bedroom, 1-bath apartments, each with in-unit laundry. A shared basement common area includes an additional bathroom, supporting day-to-day convenience for residents.
A second detached building contains a private 1-bedroom, 1-bath apartment with its own entrance. The property also features a 2-car garage and off-street parking.
The asset is described as being well-positioned near The Ohio State University and within the Upper Arlington School District, with access to major commuter routes as well as nearby dining and shopping.
A second detached building contains a private 1-bedroom, 1-bath apartment with its own entrance. The property also features a 2-car garage and off-street parking.
The asset is described as being well-positioned near The Ohio State University and within the Upper Arlington School District, with access to major commuter routes as well as nearby dining and shopping.
Key Highlights
- Multi‑building rental property built in 1947 with 2 buildings and 3 total units
- Main building includes two separate 2‑bedroom, 1‑bath apartments, each with in‑unit laundry
- Shared basement common area plus an additional bathroom for added tenant convenience
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
$29,053
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
5.05%
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%
$581,060
$581.1K
Cap Rate 7%
$415,043
$415.0K
Cap Rate 9%
$322,811
$322.8K
Market Conditions
NOI Build-Up for 3,412 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
$44.6K $13.08/SF
− Vacancy
−$3.1K −$0.92/SF
EGI
$41.5K $12.16/SF
− OpEx
−$12.5K −$3.65/SF
NOI
$29.1K $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%
$581,060
Cap Rate 7%
$415,043
Cap Rate 9%
$322,811
Alternative Uses
Best Use
Multifamily LT 5
$415.0K
$363.2K – $484.2K
NOI $29,053 @ 7.0% cap · market cap 5.05%
Second Best
Apartment 5plus
$333.9K
$292.2K – $389.5K
NOI $23,372 @ 7.0% cap · market cap 4.07%
Theoretical Best
Office A
$711.1K
$622.2K – $829.6K
NOI $49,775 @ 7.0% cap · market cap 8.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,227
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?
Triplex - Two buildings totaling three units, including two 2-bedroom apartments and a detached private 1-bedroom unit.
Where is this triplex located?
The property is located at 1810 Ashland Avenue Columbus, OH.
What is the asking price?
The asking price for this property is $574,900.
What are key features of this property?
This property features: Multi‑building rental property built in 1947 with 2 buildings and 3 total units; Main building includes two separate 2‑bedroom, 1‑bath apartments, each with in‑unit laundry; Shared basement common area plus an additional bathroom for added tenant convenience
