Renovated 8-Unit Apartment
For Sale
$775,000
74 W Moler St, Columbus, OH 43207
Fully occupied multifamily property near Downtown Columbus, with one-bedroom layouts and recent unit improvements.
Property Size3,672 SF
Price / SF$211.06
Days on Market22
Property Features for 74 W Moler St
General Information
Standard status
Active
Size
3,672 SF
Property subtype
Residential
Occupancy
100%
Units
Unit Mix
8 x 1BR/1BA
Multifamily Units
8
Additional Details
Average Monthly Rent
$890
Building Details
Year Built
1960
Listing Agency:
Jacob Rose, Weade Realtors & Auctioneers
(740) 389-2000
Listed By:
Real Estate Showcase RES
(740) 389-2000
Source:
Resmarion
Added: Aug 10
Changed: Aug 31
Last Checked: Aug 30 at 4:27PM
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 Jacob Rose, Weade Realtors & Auctioneers
Investment Insights
Based on property information with market context.
This 8-unit apartment building contains 3,672 square feet and was constructed in 1960. Each residence is configured with 1 bedroom and 1 bathroom, and the property is currently 100% occupied. Nearly every unit has received updates within the last four years, while the roof was replaced in 2019. These improvements provide a clear record of recent capital work across the asset.
The property is located in Columbus’s Merion Village, minutes from Downtown. Its setting places residents near restaurants, nightlife, German Village, and the Brewery District. The combination of compact one-bedroom layouts, full occupancy, and recent renovation work defines the property’s current operating profile.
The property is located in Columbus’s Merion Village, minutes from Downtown. Its setting places residents near restaurants, nightlife, German Village, and the Brewery District. The combination of compact one-bedroom layouts, full occupancy, and recent renovation work defines the property’s current operating profile.
Key Highlights
- 8‑unit apartment building with 1 bed/1 bath layouts
- 3,672 SF building constructed in 1960
- 100% occupied
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$37,945
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.90%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$758,900
$758.9K
Cap Rate 7%
$542,071
$542.1K
Cap Rate 9%
$421,611
$421.6K
Market Conditions
NOI Build-Up for 3,672 SF
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.
Gross rent
$74.9K $20.40/SF
− Vacancy
−$5.9K −$1.61/SF
EGI
$69.0K $18.79/SF
− OpEx
−$31.0K −$8.45/SF
NOI
$37.9K $10.33/SF
Area
ZIP 43207
Vacancy
7.90%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$758,900
Cap Rate 7%
$542,071
Cap Rate 9%
$421,611
Alternative Uses
Best Use
Apartment 5plus
$542.1K
$474.3K – $632.4K
NOI $37,945 @ 7.0% cap · market cap 4.90%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$740.1K
$647.6K – $863.5K
NOI $51,807 @ 7.0% cap · market cap 6.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
719
Businesses Nearby
Explore this area
Business Placement
Demographics for 43207, OH
46,853
Population
21,242
Households
2.2
Avg Household Size
38
Median Age
16%
College-Educated
85%
High-School Grad
23.1 sq mi
ZIP Area
2,028
Density / Sq Mi
$61,307
Median Household Income
$40,037
Median Earnings
$1,115
Median Rent
$156,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied multifamily property near Downtown Columbus, with one-bedroom layouts and recent unit improvements.
Where is this apartment building located?
The property is located at 74 W Moler St Columbus, OH.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: 8‑unit apartment building with 1 bed/1 bath layouts; 3,672 SF building constructed in 1960; 100% occupied
