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    601 City Park Ave Columbus, OH 43206

    Sponsored
    For Sale
    $997,997

    Columbus, OH Multifamily Investment Opportunity

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional four-unit apartment building, located at 601 City Park Avenue in Columbus, Ohio's desirable German Village, presents a unique investment opportunity. Priced at $997,997.97, this property boasts a price per square foot of $354.40. Built in 1900 and extensively renovated in 2019, the building features three one-bedroom units and one two-bedroom unit, each with a single bathroom. The two-bedroom unit offers convenient inside access to the basement and a dedicated laundry area. All units share access to a communal basement laundry space and ample additional storage. A rare double lot (4,791.6 sq ft) provides significant potential for expansion, such as adding a swimming pool or a garage with a carriage house. Currently, the occupancy rate is 25%, with three units intentionally vacant, offering flexibility for a potential conversion to a single-family home. This property's prime location and recent updates make it an attractive investment prospect in a highly sought-after neighborhood. The building's history and unique features combine to create a compelling opportunity for a discerning buyer. The property is situated in Franklin County, Ohio, with a zip code of 43206.

    Property Features for 601 City Park Ave

    General Information

    Property type
    Multifamily properties

    Building Details

    Year Built/Renovated
    1900/2019
    Units
    4

    HighLights

    • Exceptional four‑unit apartment building in Columbus, Ohio's German Village, priced at $997,997.97.
    • $354.40 price per square foot.
    • Built in 1900, extensively renovated in 2019; features three one‑bedroom and one two‑bedroom units, each with one bath.
    • Two‑bedroom unit includes basement access and private laundry. Communal basement laundry and storage.
    • Rare double lot (4,791.6 sq ft) allows for expansion.
    • Currently 25% occupancy; three vacant units offer flexibility, including potential single‑family conversion.
    Property Profile Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    Suggested Use

    Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -82.9967557
    Latitude
    39.9499912

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    FAQs

    What type of property is this?
    Multifamily property - Columbus, OH Multifamily Investment Opportunity
    Where is this multifamily property located?
    The property is located at 601 City Park Ave Columbus, OH.
    What is the asking price?
    The asking price for this property is $997,997.
    What are key features of this property?
    This property features: Exceptional four-unit apartment building in Columbus, Ohio's German Village, priced at $997,997.97.; $354.40 price per square foot.; Built in 1900, extensively renovated in 2019; features three one-bedroom and one two-bedroom units, each with one bath.
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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
    601 City Park Ave Columbus, OH 43206
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