3244 E 5th Avenue Columbus, OH 43219
MULTI_FAMILY - Columbus, OH
Property Features for 3244 E 5th Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Rooms
- Bedroom 4, Bedroom 6, Bedroom 3, Bedroom 1, Bedroom 5, Bedroom 2
- Parking
- 6
- Standard status
- Active
- APN
- 010-066638
- Lot size
- 0.14 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 3329
Utilities
- Utilities
- Water Available
- Sewer type
- Public Sewer
- Heating system
- Forced Air
- Water source
- Public
Building Details
- Year built
- 1920
- Number of units
- 3
Listing agent David Spurlock License #2022005415 (614) 656-1316
Listing office Red 1 Realty 921 Eastwind Dr Suite 102, Columbus, OH (614) 585-9020
Listing date May 12, 2026
Copyright © 2026 Columbus and Central Ohio Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located near the transformational John Glenn Columbus International Airport expansion and redevelopment project, the building is positioned in an area described as undergoing significant investment and redevelopment. The listing also notes the property’s proximity to downtown Columbus and major employment hubs, aligning it with travelers and working professionals seeking convenient accommodations.
For investors and operators, the property’s in-place rental configuration makes it straightforward to acquire and manage as a stable multifamily asset. The three distinct bedroom counts can support tenant flexibility, while the airport adjacency noted in the remarks may also fit an operator looking to evaluate additional short- or mid-term rental use cases, subject to applicable requirements.
Key Highlights
- 3‑unit apartment building at 3244 E Fifth Ave
- 2,484 finished SF total with one 1BD/1BA, one 2BD/1BA, and one 3BD/1BA unit
- Monthly rents listed: $800 (1BD/1BA), $832 (2BD/1BA), and $1,325 (3BD/1BA)
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 | $32.5k | $13.08 |
| − Vacancy | −$2.3k | −$0.92 |
| EGI | $30.2k | $12.16 |
| − OpEx | −$9.1k | −$3.65 |
| NOI | $21.2k | $8.52 |
