Four-Unit Brick Apartment
217 West Hubbard Avenue Columbus, OH 43215
217 West Hubbard Avenue, Columbus, OH, 43215
$734,900
For Sale
$734,900
Brick fourplex with coin-operated laundry and off-street parking, currently generating rental income with potential for an added unit.
Property Size2,529 SF
Price / SF$290.59
Days on Market317
Property Features for 217 West Hubbard Avenue
General Information
- Standard status
- Active
- Size
- 2,529 SF
- Property subtype
- Multi-Family / Midrise
Building Details
- Year Built
- 1900
Listing agency
Keller Williams Consultants
(614) 316-2310
Listed by
Elisa M Lowe · License #2017003008
(614) 316-2310
Source
Compass
Added: Sep 10, 2025 Updated: Jul 10 at 1:50PM Checked: Jul 22 at 11:21AM
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 Keller Williams Consultants
Investment Insights
Based on property information with market context.
This brick four-unit property includes on-site coin-operated laundry and four off-street parking spaces. The current income is approximately $79,080, with the property described as having upside potential to over $92,000 based on pro-forma rental optimization. Three of the units are noted as using CMHA vouchers, and there is one-bedroom payment standard information included for the ZIP code. One unit is available for immediate lease-up, with a conservative projected rent of approximately $1,645 for that unit.
The building is located in Victorian Village, about one block from Goodale Park and approximately five blocks to the Short North Arts District. The remarks also describe rear parking as an area that may support value-add redevelopment, subject to zoning and city approvals.
For tenants, the property offers straightforward off-street parking and an on-site laundry amenity. For buyers, it may fit an owner-occupant or first-time investor seeking to offset housing costs with existing rental income. The additional-unit concept is presented as a possible ADU or a potential fifth unit created by adding garage structures with residential units above, pending the required approvals.
The building is located in Victorian Village, about one block from Goodale Park and approximately five blocks to the Short North Arts District. The remarks also describe rear parking as an area that may support value-add redevelopment, subject to zoning and city approvals.
For tenants, the property offers straightforward off-street parking and an on-site laundry amenity. For buyers, it may fit an owner-occupant or first-time investor seeking to offset housing costs with existing rental income. The additional-unit concept is presented as a possible ADU or a potential fifth unit created by adding garage structures with residential units above, pending the required approvals.
Key Highlights
- Brick 4‑unit Victorian Village property generating approximately $79,080 in current rental income
- Current rents include $1,800, $1,645, $1,500, with one unit available for immediate lease‑up (projected around $1,645)
- 3 units use CMHA vouchers; one‑bedroom payment standard in this ZIP code is approximately $1,969 (Franklin County highest mentioned)
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 | $33.1k | $13.08 |
| − Vacancy | −$2.3k | −$0.92 |
| EGI | $30.8k | $12.16 |
| − OpEx | −$9.2k | −$3.65 |
| NOI | $21.5k | $8.52 |
2,529 SF · lease $13.08/SF/yr · vacancy 7.00% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$307.6K
$269.2K – $358.9K
NOI $21,535 @ 7.0% cap · market cap 2.93%
Second Best
Apartment 5plus
$247.5K
$216.5K – $288.7K
NOI $17,323 @ 7.0% cap · market cap 2.36%
Theoretical Best
Office A
$527.1K
$461.2K – $614.9K
NOI $36,894 @ 7.0% cap · market cap 5.02%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Brick fourplex with coin-operated laundry and off-street parking, currently generating rental income with potential for an added unit.
Where is this quadplex located?
The property is located at 217 West Hubbard Avenue Columbus, OH.
What is the asking price?
The asking price for this property is $734,900.
What are key features of this property?
This property features: Brick 4‑unit Victorian Village property generating approximately $79,080 in current rental income; Current rents include $1,800, $1,645, $1,500, with one unit available for immediate lease‑up (projected around $1,645); 3 units use CMHA vouchers; one‑bedroom payment standard in this ZIP code is approximately $1,969 (Franklin County highest mentioned)
