1296 Parsons Avenue, Columbus, OH 43206
$1,850,000
Property Type:
Multi-Family
Lot Size (sq. ft.):
13,068
Status:
Closed
Current Price:
$1,850,000
List Date:
11/30/2022
Last Modified:
2/26/2025
Description
Fully renovated 2022. 10 Units. Each unit is ~1,000SF with 2 bedroom 1.5 bath, laundry hookups, Ecobee thermostats, heat pump HVAC, front and rear private porches. Condo conversion complete and condo association setup. Not operating as condo currently. New water service, mechanicals, electric, plumbing, roofing, windows, removed walls to create open floor plans. Tax abated 15 years 100% with no affordability requirements. Current owner paid affordability waiver. In Ohio Opportunity Zone and eligible for 10% investment tax credit! Secure access controlled parking lot with 10 spaces. 6 units currently operated as short term rentals, 2 units leased, and 2 units just finished renovations and available to lease. Minutes to Downtown, German Village, Grocery, Library, and more.
Supplements: ********
More Information MLS# 222043202
Location Property Info
Original List Price: 2500000
Sold Price: $1,850,000
Property Sub Type: Townhouse
Street #: 1296
Street Name: Parsons
Street Suffix: Avenue
County: Franklin
State: OH
Zip Code: 43206
Subdiv/Cmplx/Comm: TwoXFive Townhomes by Kreais Companies
School District: COLUMBUS CSD 2503 FRA CO.
Township: None
OfficeContract Info
Status: Closed
MLS Entry Date: 2022-11-30
General Property Info
Number of Units: 10
# of Buildings: 2
Total Parking: 10
Building Sqft: 13932
Year Built: 1910
Built Prior to 1978: Yes
Occupancy Rate: 80
Lot Size (Side): 140
Acreage: 0.3
Use Code: 401 - APARTMENT:4-19 UNITS
Tax Info
Parcel #: 010-029986
Zoning: R2F
Mult Parcels/Sch Dis: Yes
Addl Parcel Numbers: 010-303625-00, 010-303626-00, 010-303627-00, 010-303628-00, 010-303629-00, 010-303630-00, 010-303631-00, 010-303632-00, 010-303633-00, 010-303634-00
Tax Year: 2021
Tax Abatement: Yes
Abatement End Date: 2037-01-01
Taxes (Yrly): 13154
Tax Incentive: Yes
Status Change Info
Under Contract Date: 2023-03-28
Sold Date: 2023-06-26
Sold Price: $1,850,000
Sold Price/SqFt: 132.79
2 Bedroom
2 Bedroom # of Units: 10
2 Bedroom Month Rent Per Unit: 1750
Financials
Financials ForYearOf: 2022
Gross Rental Income: 198000
Effective Income: 208000
Other Income: 10000
Vac & Cr Loss: 9900
Expenses
R.E. Taxes: 13154
Property Insurance: 9001
Off-Site Management: 12480
Repairs&Maintenance: 10000
Auction Info
Auction/Online Bidding Y/N: No
Property Features
Addl Acceptance Cond: None Known
Parking Features: Assigned
Tenant Pays: Electricity; Sewer; Water
Heat Fuel: Electric
Heating: Forced Air; Heat Pump
Air Conditioning: Central Air
Construction: Brick
Sewer: Public Sewer
Services Available: Electricity Available; Sewer Available; Water Available
Miscellaneous: Basement; Building Plans; Public Transport; Security System; Survey; W/D Hookups
Alternate Uses: Bed & Breakfast; Commercial; Residential
New Financing: Conventional
MLS Primary PhotoSrc: Realtor Provided
Documents
Proforma ›Listing Office: Keller Williams Consultants
Listing Agent: Joshua Kreais
Last Updated: February - 26 - 2025
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