250 18Th St, Columbus, OH 43205

Property Details for 250 18Th St

Year built

1904

Property type

Land

Property subtype

Residential income homes

Description

This exceptional 4-unit apartment building, located at 250 S 18th Street in Columbus, Ohio, presents a compelling investment opportunity. Built in 1904 and extensively renovated in 2023, this property boasts 6,345 square feet of living space situated on a substantial 7,840.8 square foot lot. The building features a desirable mix of unit sizes, including two large 3 or 4-bedroom, 1-bathroom units, one 2-bedroom, 1-bathroom unit, and one spacious 1-bedroom, 1-bathroom unit with a den. Current rental income is strong, with one vacant unit ready for immediate occupancy (estimated rent $2,599) and three others generating consistent revenue ($1,775, $1,675, and $1,475 respectively). The property's prime location, just blocks from Downtown Columbus, the Conservatory, and numerous shops and restaurants, ensures high occupancy rates and strong rental demand. The building also features an oversized 4-car garage, adding significant value. The expansive lot offers considerable potential for future development, with the possibility of adding 2-4 additional units, mirroring successful precedent set by neighboring properties. This property is priced at $899,999, representing a price per square foot of $196.59, making it an attractive investment for both owner-occupants seeking rental income to offset mortgage payments and seasoned investors targeting high cash flow. Soaring 10-16 foot ceilings and abundant natural light enhance the appeal of each unit. This is a rare opportunity to acquire a well-maintained, high-performing multifamily property in a thriving urban location with significant upside potential.

Location Insight

City

Columbus

County

Franklin

State

Ohio

Longitude

-82.9757

Latitude

39.9597