Updated Two-Unit
514-516 Olpp Avenue Columbus, OH 43207
514-516 Olpp Avenue, Columbus, OH, 43207
$239,000
For Sale
$239,000
Updated duplex with two 2-bedroom, 1-bath units, including new furnaces and hot water tanks.
Property Size2,080 SF
Price / SF$114.90
Days on Market71
Property Features for 514-516 Olpp Avenue
General Information
- Standard status
- Active
- Size
- 2,080 SF
- Property subtype
- Multi-Family / Duplex
Building Details
- Year Built
- 1900
Listing agency
e-Merge Real Estate Premium
(614) 226-6230
Listed by
Ashley Watson · License #2021007222
(614) 226-6230
Source
Compass
Added: May 13 Updated: Jul 21 at 11:44PM Checked: Jul 22 at 10:58AM
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 e-Merge Real Estate Premium
Investment Insights
Based on property information with market context.
This updated duplex offers two separate 2-bedroom, 1-bath units. Unit 514 is currently occupied on a month-to-month lease, and Unit 516 is available for showings. Recent improvements include updated kitchens and bathrooms, along with new flooring and carpeting throughout. Both units have brand-new furnaces and hot water tanks. Unit 516 also includes central air with a new A/C unit.
The property is located just south of Southern Orchards, conveniently near downtown Columbus and major highways.
For buyers seeking rental income, Unit 514 is leased, while Unit 516 can be shown directly as it is currently available.
The property is located just south of Southern Orchards, conveniently near downtown Columbus and major highways.
For buyers seeking rental income, Unit 514 is leased, while Unit 516 can be shown directly as it is currently available.
Key Highlights
- Updated duplex with two 2‑bedroom, 1‑bath units
- Unit 514 is tenant‑occupied at $800/month on a month‑to‑month lease
- Recent improvements include updated kitchens, bathrooms, flooring, and carpeting throughout
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 | $42.4k | $20.40 |
| − Vacancy | −$3.4k | −$1.61 |
| EGI | $39.1k | $18.79 |
| − OpEx | −$17.6k | −$8.45 |
| NOI | $21.5k | $10.33 |
2,080 SF · lease $20.40/SF/yr · vacancy 7.90% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$334.8K
$292.9K – $390.6K
NOI $23,434 @ 7.0% cap · market cap 9.81%
Second Best
Apartment 5plus
$307.1K
$268.7K – $358.2K
NOI $21,494 @ 7.0% cap · market cap 8.99%
Theoretical Best
Warehouse
$419.2K
$366.8K – $489.1K
NOI $29,346 @ 7.0% cap · market cap 12.28%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Updated duplex with two 2-bedroom, 1-bath units, including new furnaces and hot water tanks.
Where is this duplex located?
The property is located at 514-516 Olpp Avenue Columbus, OH.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: Updated duplex with two 2‑bedroom, 1‑bath units; Unit 514 is tenant‑occupied at $800/month on a month‑to‑month lease; Recent improvements include updated kitchens, bathrooms, flooring, and carpeting throughout
