4-Unit Quadplex with
New
For Sale
$949,900
87-89 Warren St, Columbus, OH 43215
Four separate residences include individual laundry, with one unit currently vacant for leasing or owner occupancy.
Property Size5,161 SF
Price / SF$184.05
Days on Market2
Property Features for 87-89 Warren St
General Information
Standard status
Active
Size
5,161 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
4
Amenities
in-unit laundry
Building Details
Year Built
1895
Listing Agency:
Aftab Mike Syed, RE/MAX Connection
Listed By:
Rhiannon Ferrari · License #2009003178
(614) 226-1039
Source:
Ferrarihomegroup
Added: Oct 5
Changed: Oct 6
Last Checked: Oct 5 at 4:35PM
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 Aftab Mike Syed, RE/MAX Connection
Investment Insights
Based on property information with market context.
This 5,161-square-foot quadplex, built in 1895, contains four residences identified as 87, 87 1/2, 89 and 89 1/2. Each unit has its own laundry. The two upper-level apartments have access to finished attic areas, while the main-floor apartments connect to basement space. One unit is vacant; the property also has a three-car garage and additional private off-street parking.
At 87-89 Warren St in Columbus, the property is near High Street and the Short North. The vacant apartment offers flexibility for occupancy or rental, including short-term rental use as described in the property information.
At 87-89 Warren St in Columbus, the property is near High Street and the Short North. The vacant apartment offers flexibility for occupancy or rental, including short-term rental use as described in the property information.
Key Highlights
- Four units at 87, 87 1/2, 89 and 89 1/2
- 5,161 square feet; built in 1895
- A three‑car garage plus private off‑street parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,946
Cap Rate
4.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$878,920
$878.9K
Cap Rate 7%
$627,800
$627.8K
Cap Rate 9%
$488,289
$488.3K
Market Conditions
NOI Build-Up for 5,161 SF
Gross rent
$67.5K $13.08/SF
− Vacancy
−$4.7K −$0.92/SF
EGI
$62.8K $12.16/SF
− OpEx
−$18.8K −$3.65/SF
NOI
$43.9K $8.52/SF
Area
Columbus, OH
Vacancy
7.00%
Lease Rate
$13.08 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$878,920
Cap Rate 7%
$627,800
Cap Rate 9%
$488,289
Alternative Uses
Best Use
Multifamily LT 5
$627.8K
$549.3K – $732.4K
NOI $43,946 @ 7.0% cap · market cap 4.63%
Second Best
Apartment 5plus
$505.0K
$441.9K – $589.2K
NOI $35,352 @ 7.0% cap · market cap 3.72%
Theoretical Best
Office A
$1.08M
$941.1K – $1.25M
NOI $75,290 @ 7.0% cap · market cap 7.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,437
Businesses Nearby
Explore this area
Business Placement
Demographics for 43215, OH
20,761
Population
13,428
Households
1.5
Avg Household Size
32
Median Age
71%
College-Educated
97%
High-School Grad
5.1 sq mi
ZIP Area
4,071
Density / Sq Mi
$74,469
Median Household Income
$59,521
Median Earnings
$1,487
Median Rent
$508,300
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?
Quadplex - Four separate residences include individual laundry, with one unit currently vacant for leasing or owner occupancy.
Where is this quadplex located?
The property is located at 87-89 Warren St Columbus, OH.
What is the asking price?
The asking price for this property is $949,900.
What are key features of this property?
This property features: Four units at 87, 87 1/2, 89 and 89 1/2; 5,161 square feet; built in 1895; A three‑car garage plus private off‑street parking
