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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