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    62 Eureka Ave Columbus, OH 43204

    For Sale
    $199,900

    Turnkey Duplex, High Rental Income Potential

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This Columbus, Ohio duplex presents a compelling investment opportunity. Located at 62 S Eureka Avenue, 43204, this 2-unit apartment building, built in 1920, sits on a 3,920.4 square foot lot. Each unit boasts 3 bedrooms and 1 bathroom. Currently, both units are tenant-occupied, generating a combined monthly income of $2,110. One lease expires February 25th, and the other September 25th. The current rental rates are significantly below market value for the area, offering immediate potential for increased revenue. By raising rents to market rates ($2,600-$3,000 per month), a substantial increase in cash flow is achievable. A recent home inspection is available, streamlining the due diligence process and facilitating a swift closing. The asking price is $199,900, translating to $88.84 per square foot. This property is ideal for landlords and investors seeking a turnkey investment with significant upside potential. The property's location in Columbus, Franklin County, offers convenient access to local amenities and transportation. This is a rare opportunity to acquire a well-maintained, income-producing property in a desirable location.

    Property Features for 62 Eureka Ave

    General Information

    Property type
    Multifamily properties

    Building Details

    Year Built
    1920
    Units
    2

    HighLights

    • Asking price: $199,900
    • Multifamily property with two units, operating as an apartment building (duplex).
    • Price per square foot: $88.84.
    • Built in 1920, situated on a 3,920.4 sq ft lot.
    • Currently generating approximately $2,110 monthly rental income with potential for significant rent increases.
    Property Profile Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -83.0651009
    Latitude
    39.9540034

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    FAQs

    What type of property is this?
    Multifamily property - Turnkey Duplex, High Rental Income Potential
    Where is this multifamily property located?
    The property is located at 62 Eureka Ave Columbus, OH.
    What is the asking price?
    The asking price for this property is $199,900.
    What are key features of this property?
    This property features: Asking price: $199,900; Multifamily property with two units, operating as an apartment building (duplex).; Price per square foot: $88.84.
    Request Owner's contact information
    62 Eureka Ave Columbus, OH 43204
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    62 Eureka Ave Columbus, OH 43204
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