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    602 Town St Columbus, OH 43215

    Sponsored
    For Sale
    $2,650,000

    14-unit apartment complex, expansion potential.

    Property size:
    12,702 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a 14-unit apartment building located at 602 E Town St, Columbus, OH 43215, in Franklin County. The property, built in 1932, boasts 12,702 square feet on a 0.74-acre lot (APN: 010-026431-00) and is zoned DD. Currently featuring 14 units, this two-story building offers significant upside potential with approved plans for an additional 24 units. The existing units provide below-market rents, creating a strong value-add opportunity for immediate income generation while the new construction proceeds. A key amenity is the underground parking available for residents. The property's prime location minutes from downtown Columbus, within a thriving submarket popular with young professionals, ensures strong occupancy and rental demand. The asking price is $2,650,000 ($208.63/sq ft, $189,285.71/unit). This is a rare chance to acquire a multifamily property with immediate income and substantial future growth potential.

    Property Features for 602 Town St

    General Information

    Property type
    Multifamily properties
    Square Feet
    12,702 SF
    Lot Size
    32,234 SF

    Building Details

    Year Built
    1932
    Stories
    2
    Units
    14

    HighLights

    • Unique investment opportunity in a prime Columbus location.
    • 14‑unit apartment complex with below‑market rents.
    • Approved plans for an additional 24 units, offering significant value‑add potential.
    • Underground parking for residents.
    • Excellent downtown Columbus location in a thriving submarket.
    Property Profile Location Intelligence

    Current Use by Public Records

    Columbus Apartment Finders Apartment Building

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Law Firm Building Supply Clothing Store 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
    -82.9837754
    Latitude
    39.9609125

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    FAQs

    What type of property is this?
    Multifamily property - 14-unit apartment complex, expansion potential.
    Where is this multifamily property located?
    The property is located at 602 Town St Columbus, OH.
    What is the asking price?
    The asking price for this property is $2,650,000.
    What are key features of this property?
    This property features: Unique investment opportunity in a prime Columbus location.; 14-unit apartment complex with below-market rents.; Approved plans for an additional 24 units, offering significant value-add potential.
    Request Owner's contact information
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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
    602 Town St Columbus, OH 43215
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