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    32 Orel Ave Columbus, OH 43204

    Sponsored
    For Sale
    $1,300,000

    12-Unit Apartment Building, 100% Occupancy

    Property size:
    10,168 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 12-unit apartment building, located at 32 Orel Avenue in Columbus, Ohio, presents a compelling investment opportunity. The property, built in 1968 and extensively renovated in 2018, boasts a total of 10,168 square feet situated on an 11,761.2 square foot lot (APN: 010-065477). The two-story structure, constructed of concrete and stucco, features twelve one-bedroom, one-bathroom units arranged around two central hallways. Each unit benefits from updated furnaces, A/C units, and windows, installed within the last five years. Individual utility metering ensures tenants pay their own gas and electric, while the landlord covers quarterly water expenses. An ADT security system enhances tenant safety and peace of mind. Currently operating at 100% occupancy, this property offers immediate cash flow. Five one-car garages are available, presenting additional rental income potential. The property is zoned Commercial 401, and the asking price is $1,300,000 ($127.85 per square foot). This well-maintained, highly profitable property is an ideal addition to any investment portfolio. Its strong rental history and recent upgrades minimize maintenance concerns and maximize return on investment. The convenient Columbus location and high occupancy rate ensure consistent income generation.

    Property Features for 32 Orel Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    10,168 SF

    Building Details

    Year Built/Renovated
    1968/2018
    Buildings
    1
    Units
    12

    HighLights

    • 12‑unit apartment building in Columbus, OH, offering immediate cash flow.
    • 10,168 sq ft building on an 11,761.2 sq ft lot (APN: 010‑065477).
    • Extensively renovated in 2018; all units feature updated HVAC and windows.
    • 100% occupancy with individual utility metering (tenant pays gas/electric, landlord pays water).
    • Five one‑car garages available for additional income; ADT security system installed.
    • Commercial 401 zoning; asking price $1,300,000 ($127.85/sq ft).
    Property Profile Location Intelligence

    Current Use by Public Records

    True Painting LLC Painter

    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
    -83.0855013
    Latitude
    39.955053

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    FAQs

    What type of property is this?
    Multifamily property - 12-Unit Apartment Building, 100% Occupancy
    Where is this multifamily property located?
    The property is located at 32 Orel Ave Columbus, OH.
    What is the asking price?
    The asking price for this property is $1,300,000.
    What are key features of this property?
    This property features: 12-unit apartment building in Columbus, OH, offering immediate cash flow.; 10,168 sq ft building on an 11,761.2 sq ft lot (APN: 010-065477).; Extensively renovated in 2018; all units feature updated HVAC and windows.
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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
    32 Orel Ave Columbus, OH 43204
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