28-Unit Apartment
For Sale
Contact for pricing
3656 SEABROOK AVE, Columbus, OH 43227
Multifamily property situated within a designated apartment residential district.
Property Size23,040 SF
Price / SF$97.44
Days on Market49
Property Features for 3656 SEABROOK AVE
General Information
Standard status
Active
Size
23,040 SF
Class
C
Total Parking Spaces
28
Property subtype
Multifamily
Zoning
Multi Family Apartment Residential District
Occupancy
96%
Investment Type
Value Add
Net Operating Income
$175,151
Additional Details
Multifamily Units
28
Building Details
Year Built
1960
Buildings
2
Stories
2
Units
28
Tenancy
Multi
Listing Agency:
Forge Real Estate Advisors
Listed By:
Zeke Liston · License #2026002602
(614) 665-5793
Source:
Crexi
Added: Aug 31
Changed: Oct 13
Last Checked: Oct 16 at 9:37AM
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 Forge Real Estate Advisors
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Investment Insights
Based on property information with market context.
This multifamily apartment building contains 28 units within 23,040 square feet of property. Constructed in 1960, the asset is classified for apartment residential use under the Multi Family Apartment Residential District zoning designation.
Key Highlights
- 28 apartment units
- 23,040 SF of property
- Constructed in 1960
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$157,820
Cap Rate
7.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,156,400
$3.2M
Cap Rate 7%
$2,254,571
$2.3M
Cap Rate 9%
$1,753,556
$1.8M
Market Conditions
NOI Build-Up for 23,040 SF
Gross rent
$306.9K $13.32/SF
− Vacancy
−$19.9K −$0.87/SF
EGI
$286.9K $12.45/SF
− OpEx
−$129.1K −$5.60/SF
NOI
$157.8K $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%
$3,156,400
Cap Rate 7%
$2,254,571
Cap Rate 9%
$1,753,556
Alternative Uses
Best Use
Apartment 5plus
$2.25M
$1.97M – $2.63M
NOI $157,820 @ 7.0% cap · market cap 7.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.80M
$4.20M – $5.60M
NOI $336,116 @ 7.0% cap · market cap 14.97%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
28
Residential units
Location Intelligence
Trade Area within ½ mile
463
Businesses Nearby
Explore this area
Business Placement
Demographics for 43227, OH
25,041
Population
10,874
Households
2.3
Avg Household Size
36
Median Age
14%
College-Educated
88%
High-School Grad
4.1 sq mi
ZIP Area
6,108
Density / Sq Mi
$45,314
Median Household Income
$32,338
Median Earnings
$1,105
Median Rent
$134,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property situated within a designated apartment residential district.
Where is this apartment building located?
The property is located at 3656 SEABROOK AVE Columbus, OH.
What is the asking price?
The asking price for this property is $2,245,000.
What are key features of this property?
This property features: 28 apartment units; 23,040 SF of property; Constructed in 1960
