Multifamily Property With Two
323 Stewart Avenue Columbus, OH 43206
323 Stewart Avenue, Columbus, OH, 43206
$879,000
For Sale
$879,000
Two buildings on one parcel combine a 2-unit and 3-unit layout with varied unit mixes for rental use.
Property Size4,390 SF
Price / SF$200.23
Days on Market63
Property Features for 323 Stewart Avenue
General Information
- Standard status
- Active
- Size
- 4,390 SF
- Property subtype
- Multi-Family / Duplex
Building Details
- Year Built
- 1940
Listing agency
Reafco
(614) 665-8629
Listed by
Luke Rakowsky · License #2021007859
(614) 665-8629
Source
Compass
Added: May 21 Updated: Jul 10 at 1:49PM Checked: Jul 21 at 6:34AM
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 Reafco
Investment Insights
Based on property information with market context.
This for-sale multifamily property includes two separate buildings situated on a single parcel, offering a combined residential income configuration. One building is a 2-unit setup with two bedrooms and one bathroom per unit. The second building is a 3-unit structure with a mix of unit sizes: two units include two bedrooms and two bathrooms, and one unit includes one bedroom and one bathroom.
The property is located at 323 Stewart Avenue in Columbus, Ohio (43206). It presents an income-minded structure arrangement with two buildings under one ownership footprint, which can be appealing to buyers looking to diversify unit mix within a single offering.
For tenants, the unit mix provides options across different bedroom counts and bathroom configurations, from the two-bedroom/one-bath units to two-bedroom/two-bath and one-bedroom setups. For owners or buyers, the combined 2-unit and 3-unit buildings on one parcel can simplify operations under one roofline and allow management to be consolidated across the total portfolio contained within the offering.
The property is located at 323 Stewart Avenue in Columbus, Ohio (43206). It presents an income-minded structure arrangement with two buildings under one ownership footprint, which can be appealing to buyers looking to diversify unit mix within a single offering.
For tenants, the unit mix provides options across different bedroom counts and bathroom configurations, from the two-bedroom/one-bath units to two-bedroom/two-bath and one-bedroom setups. For owners or buyers, the combined 2-unit and 3-unit buildings on one parcel can simplify operations under one roofline and allow management to be consolidated across the total portfolio contained within the offering.
Key Highlights
- Two buildings on one parcel (2‑unit building and 3‑unit building)
- 2‑unit layout: each unit has 2 beds and 1 bath
- 3‑unit layout includes two 2 bed/2 bath units and one 1 bed/1 bath unit
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 | $57.4k | $13.08 |
| − Vacancy | −$4.0k | −$0.92 |
| EGI | $53.4k | $12.16 |
| − OpEx | −$16.0k | −$3.65 |
| NOI | $37.4k | $8.52 |
4,390 SF · lease $13.08/SF/yr · vacancy 7.00% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$534.0K
$467.3K – $623.0K
NOI $37,381 @ 7.0% cap · market cap 4.25%
Second Best
Apartment 5plus
$429.6K
$375.9K – $501.2K
NOI $30,071 @ 7.0% cap · market cap 3.42%
Theoretical Best
Office A
$914.9K
$800.5K – $1.07M
NOI $64,043 @ 7.0% cap · market cap 7.29%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two buildings on one parcel combine a 2-unit and 3-unit layout with varied unit mixes for rental use.
Where is this duplex located?
The property is located at 323 Stewart Avenue Columbus, OH.
What is the asking price?
The asking price for this property is $879,000.
What are key features of this property?
This property features: Two buildings on one parcel (2‑unit building and 3‑unit building); 2‑unit layout: each unit has 2 beds and 1 bath; 3‑unit layout includes two 2 bed/2 bath units and one 1 bed/1 bath unit
