Massive Four-Unit Multifamily
250 S 18th Street Columbus, OH 43205
250 S 18th Street, Columbus, OH, 43205
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For Sale
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Four-unit property with high ceilings, natural light, and oversized garage.
Property Size6,345 SF
Price / SF$141.84
Days on Market673
Property Features for 250 S 18th Street
General Information
- Standard status
- Active
- Size
- 6,345 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1904
Listing Agency
Investor Broker Realty
(614) 296-4321
Listed by
Sheryl Reitter · License #2009004313
Source
Crexi
Added: Sep 16, 2024 Checked: Jul 19 at 2:34 am
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 Investor Broker Realty
Investment Insights
Based on property information with market context.
This four-unit property features curb appeal and is situated blocks from Downtown, the Conservatory, shops, and restaurants. The building includes open concept floor plans, soaring 10 to 16 ft ceilings, and natural light. An oversized four-car garage is included. The property is set on a large lot with the potential to parcel off and sell the back for additional units. There are two large three- or four-bedroom, one-bathroom units, one of which is fully renovated and vacant with an estimated rent of $2,599. The other is rented for $1,775 with a long-term tenant. There is one fully renovated two-bedroom, one-bathroom unit rented for $1,675, and one large one-bedroom plus den, one-bathroom unit rented for $1,475. The actual square footage is 6,345.
Key Highlights
- Massive 4‑unit property with high cash flow potential.
- Prime location: close to Downtown, Conservatory, shops, and restaurants.
- Potential to parcel off the large lot for additional units (2‑4).
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $83.0k | $13.08 |
| − Vacancy | −$5.8k | −$0.92 |
| EGI | $77.2k | $12.16 |
| − OpEx | −$23.2k | −$3.65 |
| NOI | $54.0k | $8.52 |
6,345 SF · lease $13.08/SF/yr · vacancy 7.00% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$771.8K
$675.4K – $900.5K
NOI $54,028 @ 7.0% cap · market cap 6.00%
Second Best
Apartment 5plus
$620.9K
$543.3K – $724.4K
NOI $43,462 @ 7.0% cap · market cap 4.83%
Theoretical Best
Office A
$1.32M
$1.16M – $1.54M
NOI $92,563 @ 7.0% cap · market cap 10.28%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Four-unit property with high ceilings, natural light, and oversized garage.
Where is this quadplex located?
The property is located at 250 S 18th Street Columbus, OH.
What is the asking price?
The asking price for this property is $899,999.
What are key features of this property?
This property features: Massive 4‑unit property with high cash flow potential.; Prime location: close to Downtown, Conservatory, shops, and restaurants.; Potential to parcel off the large lot for additional units (2‑4).
