861 Como Ave Columbus, OH 43224
- Small apartment buildings
Current Use by Public Records
- Small apartment buildings
Property Details for 861 Como Ave
- Year built
- 1961
- Property type
- Small apartment buildings
Description
This exceptional investment opportunity presents a 23-unit apartment building located at 861 E Como Avenue, Columbus, Ohio, 43224. The property, built in 1961, sits on a 10,454.4 square foot lot and is priced at $2,070,000, translating to $414.66 per square foot. This multifamily property is part of a larger five-property portfolio generating a total annual income of $253,380. The building features mostly submetered units, with tenants responsible for their own gas and electric. Significant improvements have been made, including roof replacements (within the last 1-20 years) and 70% of windows and HVAC systems updated within the last 15 years. Modest upgrades, such as paint and flooring, are regularly implemented to maintain tenant appeal and occupancy. A conservative Net Operating Income (NOI) calculation, based on a 40% expense-to-rent ratio, provides a strong return on investment. All leases are month-to-month, offering flexibility for the new owner. Please note that curb offers only are being accepted, and tenants should not be disturbed. Further details regarding offer submission are available upon request. This property represents a compelling addition to any investment portfolio seeking stable cash flow and appreciation potential in the Columbus, Ohio market. The property is located in Franklin County.
Value Estimation
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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
- -82.9897724
- Latitude
- 40.0254929
