Current Use by Public Records
- Apartment buildings
Property Details for 699 Wetmore Rd
- Year built
- 1968
- Property type
- Apartment buildings
- Property subtype
- Small apartment buildings
Description
This 16-unit apartment building, located at 699 Wetmore Road in Columbus, Ohio, presents a compelling investment opportunity. Built in 1968, this property boasts 15 one-bedroom units and one studio apartment. As of November 15, 2024, 14 units are currently leased, generating an average monthly rent of $982.85. Two units command higher rents of $1,095 and $1,145, suggesting potential for further rental income growth. The property features 14 carports and additional off-street parking for approximately 12 vehicles. Utilities are handled with the owner covering gas, water, and sewer, while tenants are responsible for electricity. The building enjoys a 94% occupancy rate and sits on a convenient bus line, enhancing its appeal to tenants. The asking price is $1,500,000, translating to $121.07 per square foot. The property's location at the corner of Indianola and Wetmore Roads in the Clintonville neighborhood offers excellent visibility and accessibility. Buyer concessions may be considered. This property is well-suited for a 1031 exchange buyer seeking a stable, long-term investment. A detailed rent roll is available upon request. The lot size is not specified.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Columbus
- County
- Franklin
- State
- Ohio
- Longitude
- -83.001
- Latitude
- 40.0576
