2540 Neil Avenue, Columbus, OH 43202

$600,000
Property Type: Multi-Family Lot Size (sq. ft.): 6,098 Status: Active
Current Price: $600,000 List Date: 1/05/2026 Last Modified: 1/16/2026

Description

Attention investors. This solid brick four-unit features four two-bedroom townhouse-style apartments in an excellent Old North Columbus location. Walkable to cafes, neighborhood shopping, the bus line, and the bike path—this is exactly where long-term rental demand stays strong. Current rents are $1,100, $880, $1,000, and $1,040, with market rents closer to $1,200 per unit, offering clear value-add potential through rent growth and selective updates. Two of the units have central air; the interior units do not and feature older furnaces—giving the next owner a straightforward path to improving cash flow. Owner pays water and sewer; tenants pay electric. Brick construction, a proven unit mix, and a location that continues to appreciate make this a strong long-term hold or repositioning opportunity in one of Columbus's most consistent rental corridors. Opportunities like this in Old North don't last—move on it.

Supplements: ********

More Information MLS# 226000241

Location & Property Info

List Price/SqFt: 153.06 City (Mailing Addr): Columbus Corp LimitPerAuditor: Columbus Dist To Intersxn: 1

Office/Contract Info

For Sale: Yes Exchange: No

General Property Info

# of Buildings: 1 Built Prior to 1978: Yes Building Sqft: 3920 Lot Size (Side): 66 Use Code: 401 - APARTMENT:4-19 UNITS Number of Units: 4 Year Built: 1900 Acreage: 0.14

Tax Info

Zoning: R- 2F Tax Abatement: No Taxes (Yrly): 8439 Parcel #: 010-057334 Tax Year: 2025

Remarks & Misc

Property Description: Attention investors. This solid brick four-unit features four two-bedroom townhouse-style apartments in an excellent Old North Columbus location. Walkable to cafes, neighborhood shopping, the bus line, and the bike path—this is exactly where long-term rental demand stays strong. Current rents are $1,100, $880, $1,000, and $1,040, with market rents closer to $1,200 per unit, offering clear value-add potential through rent growth and selective updates. Two of the units have central air; the interior units do not and feature older furnaces—giving the next owner a straightforward path to improving cash flow. Owner pays water and sewer; tenants pay electric. Brick construction, a proven unit mix, and a location that continues to appreciate make this a strong long-term hold or repositioning opportunity in one of Columbus's most consistent rental corridors. Opportunities like this in Old North don't last—move on it.

Income/Expenses

Gross Income: 49680 Net Operating Income: 36490 Total Expenses: 13190

Addl Acceptance Cond

None Known: 1

Expenses

R.E. Taxes: 8439 Property Insurance: 2690 Water Expense: 2000

2 Bedroom

2 Bedroom # of Units: 4 2 Bedroom Month Rent Per Unit: 1000

Construction

Brick: 1

Heat Fuel

Gas: 1

Parking Features

On Street: 1

Water Source

Public: 1

Sewer

Public Sewer: 1

Services Available

Electricity Available: 1 Natural Gas Available: 1 Sewer Available: 1 Storm Sewer: 1 Water Available: 1

Miscellaneous

Basement: 1 W/D Hookups: 1

Tenant Pays

Gas: 1 Electricity: 1

Auction Info

Auction/Online Bidding Y/N: No

Heating

Forced Air: 1

New Financing

Conventional: 1

Air Conditioning

Central Air: 1

Owner Pays

Sewer: 1 Water: 1

MLS Primary PhotoSrc

Realtor Provided: 1

Location Property Info

Original List Price: 600000 List Price: $600,000 Property Sub Type: Townhouse Street #: 2540 Street Name: Neil Street Suffix: Avenue County: Franklin State: OH Zip Code: 43202 Subdiv/Cmplx/Comm: Old North Columbus School District: COLUMBUS CSD 2503 FRA CO. Township: None

OfficeContract Info

Status: Active MLS Entry Date: 2026-01-05

Property Features

Addl Acceptance Cond: None Known Parking Features: On Street Owner Pays: Sewer; Water Tenant Pays: Electricity; Gas Heat Fuel: Gas Heating: Forced Air Air Conditioning: Central Air Construction: Brick Water Source: Public Sewer: Public Sewer Services Available: Electricity Available; Natural Gas Available; Sewer Available; Storm Sewer; Water Available Miscellaneous: Basement; W/D Hookups New Financing: Conventional MLS Primary PhotoSrc: Realtor Provided
Listing Office: Keller Williams Capital Ptnrs
Listing Agent: Joseph C Jackson
Last Updated: January - 16 - 2026
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