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    4468 Reinbeau Dr Columbus, OH 43232

    For Sale
    $1,680,000

    24-Unit Apartment Building, High Demand

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional 24-unit apartment building, located at 4468 Reinbeau Drive in Columbus, Ohio, presents a compelling investment opportunity. Built in 1973, this ranch-style complex boasts 24 one-bedroom, one-bathroom apartments, each averaging 576 square feet and currently commanding an average monthly rent of $675. The property sits on a substantial 55,756.8 square foot lot and features private entries and patios for each unit, contributing to resident satisfaction and low maintenance interiors. The asking price is $1,680,000, translating to $119.05 per square foot. Ample paved parking is available for residents. The property's convenient location offers easy access to various amenities. This is the first community developed by Cardinal Industries. Note that the seller also owns an adjacent 17-unit apartment complex, offering the potential to acquire a larger 41-unit portfolio for $2,595,000. This presents significant upside potential for increased income. The property is being sold as-is, with curbside offers only. No owner financing is available. Please respect the privacy of current residents and refrain from disturbing them.

    Property Features for 4468 Reinbeau Dr

    General Information

    Property type
    Multifamily properties

    Building Details

    Year Built
    1973
    Units
    24
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -82.8805229
    Latitude
    39.9067051

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    FAQs

    What type of property is this?
    Multifamily property - 24-Unit Apartment Building, High Demand
    Where is this multifamily property located?
    The property is located at 4468 Reinbeau Dr Columbus, OH.
    What is the asking price?
    The asking price for this property is $1,680,000.
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    4468 Reinbeau Dr Columbus, OH 43232
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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
    4468 Reinbeau Dr Columbus, OH 43232
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