2048 Pine Needle Court, Columbus, OH 43232
$5,380,000
Property Type:
Multi-Family
Lot Size (sq. ft.):
223,027
Status:
Closed
Current Price:
$5,380,000
List Date:
12/21/2021
Last Modified:
2/21/2025
Description
The Pine Grove Apartments is an 80-unit cardinal style apartment community in Columbus, Ohio, that sits on 5.12 acres. The complex is a short drive to Downtown
Columbus making it an ideal location for anyone in the metropolitan area. With easy access to major Interstates like I-270 and I-70, the apartment community provides
residents easy access to employment hubs, entertainment, and necessities all around the MSA.
The property has been exceptionally well-maintained, which has resulted in high occupancy rates and low turnover with many long-term tenants. New ownership
can benefit from limited deferred maintenance and ability to increase current rental rates to be in line with the submarket resulting in increased cash flow growth and
overall yield on the asset.
Supplements: ********
More Information MLS# 221048201
Location Property Info
Original List Price: 5360000
Sold Price: $5,380,000
Property Sub Type: Flat
Street #: 2048
Street Name: Pine Needle
Street Suffix: Court
County: Franklin
State: OH
Zip Code: 43232
School District: COLUMBUS CSD 2503 FRA CO.
Township: None
OfficeContract Info
Status: Closed
MLS Entry Date: 2021-12-01
General Property Info
Number of Units: 80
# of Buildings: 15
Total Parking: 123
Building Sqft: 32970
Year Built: 1980
Built Prior to 1978: No
Acreage: 5.12
Tax Info
Parcel #: 010-004471
Mult Parcels/Sch Dis: Yes
Tax Year: 2020
Tax Abatement: No
Taxes (Yrly): 53403
Status Change Info
Under Contract Date: 2021-12-21
Sold Date: 2022-02-18
Sold Price: $5,380,000
Sold Price/SqFt: 163.18
Efficiency
Efficiency # of Units: 16
1 Bedroom
1 Bedroom # of Units: 56
2 Bedroom
2 Bedroom # of Units: 12
Auction Info
Auction/Online Bidding Y/N: No
Property Features
Addl Acceptance Cond: None Known
Parking Features: Common
Owner Pays: Trash
Tenant Pays: Electricity; Sewer; Water
Heat Fuel: Electric
MLS Primary PhotoSrc: Realtor Provided
Listing Office: NAI Ohio Equities, Realtors
Listing Agent: Carter Stephens
Last Updated: February - 21 - 2025
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