Multifamily Property for
New
For Sale
$179,000
273 S Monroe Ave, Columbus, OH 43205
The building requires significant renovation and is being sold in its present condition.
Property Size1,740 SF
Price / SF$102.87
Days on Market4
Property Features for 273 S Monroe Ave
General Information
Standard status
Active
Size
1,740 SF
Property subtype
Multi-Family
Property Condition
Severity
Major Repairs Needed
Evidence
In need of significant renovation
Building Details
Year Built
1907
Listing Agency:
Matthew Schirtzinger, RE/MAX Premier Choice
Listed By:
Rhiannon Ferrari · License #2009003178
(614) 226-1039
Source:
Ferrarihomegroup
Added: Oct 12
Changed: Oct 15
Last Checked: Oct 14 at 10:41PM
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 Matthew Schirtzinger, RE/MAX Premier Choice
Investment Insights
Based on property information with market context.
At 273 S Monroe Ave, this 1,740-square-foot multifamily property was built in 1907 and requires significant renovation. The property is being sold in its present condition.
The property is near Downtown Columbus, Children’s Hospital, major roadways, and local amenities. The surrounding area includes areas of ongoing development and investment.
The property is near Downtown Columbus, Children’s Hospital, major roadways, and local amenities. The surrounding area includes areas of ongoing development and investment.
Key Highlights
- 1,740‑square‑foot multifamily property
- Built in 1907
- Requires significant renovation; sold in its present condition
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,919
Cap Rate
6.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$238,380
$238.4K
Cap Rate 7%
$170,271
$170.3K
Cap Rate 9%
$132,433
$132.4K
Market Conditions
NOI Build-Up for 1,740 SF
Gross rent
$23.2K $13.32/SF
− Vacancy
−$1.5K −$0.87/SF
EGI
$21.7K $12.45/SF
− OpEx
−$9.8K −$5.60/SF
NOI
$11.9K $6.85/SF
Area
Columbus, OH
Vacancy
6.50%
Lease Rate
$13.32 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$238,380
Cap Rate 7%
$170,271
Cap Rate 9%
$132,433
Alternative Uses
Best Use
Apartment 5plus
$170.3K
$149.0K – $198.7K
NOI $11,919 @ 7.0% cap · market cap 6.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$362.6K
$317.3K – $423.1K
NOI $25,384 @ 7.0% cap · market cap 14.18%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,124
Businesses Nearby
Explore this area
Business Placement
Demographics for 43205, OH
12,044
Population
7,303
Households
1.6
Avg Household Size
35
Median Age
41%
College-Educated
89%
High-School Grad
2.4 sq mi
ZIP Area
5,018
Density / Sq Mi
$54,214
Median Household Income
$41,219
Median Earnings
$1,050
Median Rent
$290,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Multifamily property - The building requires significant renovation and is being sold in its present condition.
Where is this multifamily property located?
The property is located at 273 S Monroe Ave Columbus, OH.
What is the asking price?
The asking price for this property is $179,000.
What are key features of this property?
This property features: 1,740‑square‑foot multifamily property; Built in 1907; Requires significant renovation; sold in its present condition
