20-Unit Apartment Building with Covered
3677 Indianola Ave Columbus, OH 43214
3677 Indianola Ave, Columbus, OH, 43214
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For Sale
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Twenty one-bedroom units averaging 650 SF with covered parking and on-site storage.
Property Size16,610 SF
Price / SF$144.49
Days on Market113
Property Features for 3677 Indianola Ave
General Information
- Standard status
- Active
- Size
- 16,610 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1966
Listing agency
Matthews
Listed by
Joey Miller · License #2021000671
Source
Crexi
Added: Mar 31 Updated: Jul 21 at 4:40PM Checked: Jul 21 at 4:40PM
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 Matthews
Investment Insights
Based on property information with market context.
This 20-unit multifamily property offers all one-bedroom apartments, with each unit averaging approximately 650 square feet. Covered parking and on-site storage are built into the property’s income approach, supporting both tenant convenience and additional revenue opportunities.
Located at 3677 Indianola Ave in Columbus, Ohio, the building is described in the offering as having strong occupancy and proven performance in a highly desirable location. This combination of unit mix, parking, and storage makes the property a straightforward fit for buyers seeking a consistent residential income asset.
The building is for sale as a 20-unit residential income property in the Columbus market.
Located at 3677 Indianola Ave in Columbus, Ohio, the building is described in the offering as having strong occupancy and proven performance in a highly desirable location. This combination of unit mix, parking, and storage makes the property a straightforward fit for buyers seeking a consistent residential income asset.
The building is for sale as a 20-unit residential income property in the Columbus market.
Key Highlights
- 20‑unit multifamily with 1‑bedroom units averaging 650 SF each
- Built in 1966 multifamily property in Clintonville, Columbus
- Covered parking and on‑site storage add to potential income
Local Financial Insights For Apartment 5plus
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 | $221.2k | $13.32 |
| − Vacancy | −$14.4k | −$0.87 |
| EGI | $206.9k | $12.45 |
| − OpEx | −$93.1k | −$5.60 |
| NOI | $113.8k | $6.85 |
16,610 SF · lease $13.32/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.63M
$1.42M – $1.90M
NOI $113,775 @ 7.0% cap · market cap 4.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.46M
$3.03M – $4.04M
NOI $242,313 @ 7.0% cap · market cap 10.10%
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?
Apartment building - Twenty one-bedroom units averaging 650 SF with covered parking and on-site storage.
Where is this apartment building located?
The property is located at 3677 Indianola Ave Columbus, OH.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: 20‑unit multifamily with 1‑bedroom units averaging 650 SF each; Built in 1966 multifamily property in Clintonville, Columbus; Covered parking and on‑site storage add to potential income
