Fully Leased Duplex With
2406-2408 Indianola Avenue Columbus, OH 43202
2406-2408 Indianola Avenue, Columbus, OH, 43202
$499,900
For Sale
$499,900
Duplex units 2406 and 2408 are fully leased through July 31, 2027, with tenants paying utilities.
Property Size3,244 SF
Price / SF$154.10
Days on Market41
Property Features for 2406-2408 Indianola Avenue
General Information
- Standard status
- Active
- Size
- 3,244 SF
- Property subtype
- Multi-Family / Duplex
Building Details
- Year Built
- 1910
Listing agency
Cutler Real Estate
(614) 325-0022
Listed by
Jeffery W Ruff · License #367716
(614) 325-0022
Source
Compass
Added: Jun 12 Updated: Jul 21 at 5:49PM Checked: Jul 22 at 11:19AM
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 Cutler Real Estate
Investment Insights
Based on property information with market context.
This fully leased duplex includes units 2406 and 2408. Unit 2406 features three bedrooms and one full bath on the second floor, plus one bedroom and a full bath on the third floor. Unit 2408 is a 3-bedroom, 1-bath layout. Hardwood flooring is throughout, and tenants are responsible for all utilities, with water billed at $35 per person per month.
The property is positioned along the border between Clintonville and the OSU campus area. Recent exterior improvements include the roof and gutters completed in 2020. A hot water tank is noted in unit 2406 with installation dated 2019.
The duplex can also be sold as a package with 2513–2515 Indianola, as noted in the remarks.
The property is positioned along the border between Clintonville and the OSU campus area. Recent exterior improvements include the roof and gutters completed in 2020. A hot water tank is noted in unit 2406 with installation dated 2019.
The duplex can also be sold as a package with 2513–2515 Indianola, as noted in the remarks.
Key Highlights
- Fully leased through July 31, 2027
- Tenants pay all utilities; water billed at $35 per person/month
- Unit 2406 layout: 3 bedrooms and 1 full bath on the 2nd floor, plus 1 bedroom and full bath on the 3rd floor
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 | $42.4k | $13.08 |
| − Vacancy | −$3.0k | −$0.92 |
| EGI | $39.5k | $12.16 |
| − OpEx | −$11.8k | −$3.65 |
| NOI | $27.6k | $8.52 |
3,244 SF · lease $13.08/SF/yr · vacancy 7.00% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$394.6K
$345.3K – $460.4K
NOI $27,623 @ 7.0% cap · market cap 5.53%
Second Best
Apartment 5plus
$317.4K
$277.8K – $370.4K
NOI $22,221 @ 7.0% cap · market cap 4.45%
Theoretical Best
Office A
$676.1K
$591.6K – $788.8K
NOI $47,325 @ 7.0% cap · market cap 9.47%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Duplex - Duplex units 2406 and 2408 are fully leased through July 31, 2027, with tenants paying utilities.
Where is this duplex located?
The property is located at 2406-2408 Indianola Avenue Columbus, OH.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Fully leased through July 31, 2027; Tenants pay all utilities; water billed at $35 per person/month; Unit 2406 layout: 3 bedrooms and 1 full bath on the 2nd floor, plus 1 bedroom and full bath on the 3rd floor
