82-84 Chittenden Ave Columbus, OH 43201

Property Details for 82-84 Chittenden Ave

Year built

1900

Lot size

0.14 lot acres

Property size

3,948 SF

Property type

Commercial real estate

APN

010-039685

APU

10039685

Description

This exceptional 8-unit apartment building, located at 82-84 Chittenden Avenue in Columbus, Ohio, presents a compelling investment opportunity. Built in 1900 and situated on a 6,098.4 square foot lot, the property boasts a desirable location and strong financial performance. Currently fully rented, it generates a gross annual revenue of $186,000, offering a 7.1% capitalization rate. Recent renovations have incorporated high-end finishes throughout the units, enhancing their appeal and rental value. The property includes an 11-space parking lot, a significant amenity for tenants. Over $100,000 in improvements have been made since the renovations. Financial records, including the rent roll, are available upon request. The property management company is in place and can continue managing the property. Further revenue growth potential exists, with estimates suggesting an additional $15,000-$20,000 in annual income through strategic enhancements. This turnkey investment is priced at $1,700,000, representing a price per square foot of $430.60. The property's strong cash flow and potential for increased profitability make it an ideal candidate for a 1031 exchange. This is a rare opportunity to acquire a well-maintained, high-performing multifamily property in a prime Columbus location.

Location Insight

City

Columbus

County

Franklin

State

Ohio

Longitude

-83.0049

Latitude

39.9959

CBSA code

18140

CBSA name

COLUMBUS, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments