2540 Neil Avenue, Columbus, OH 43202
$550,000
Property Type:
Multi-Family
Lot Size (sq. ft.):
6,098
Status:
Active
Current Price:
$550,000
List Date:
3/16/2026
Last Modified:
3/27/2026
Overview
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, $1000, $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.
Listing Details MLS# 226000241
Location Property Info
- Original List Price
- 600000
- 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
- MLS Entry Date
- 2026-01-05
General Property Info
- Number of Units
- 4
- # of Buildings
- Yes
- Building Sqft
- 3920
- Year Built
- 1900
- Built Prior to 1978
- Yes
- Lot Size (Side)
- 66
- Acreage
- 0.14
- Use Code
- 401 - APARTMENT:4-19 UNITS
Tax Info
- Parcel #
- 010-057334
- Zoning
- R- 2F
- Tax Year
- 2025
- Tax Abatement
- No
- Taxes (Yrly)
- 8439
2 Bedroom
- 2 Bedroom # of Units
- 4
- 2 Bedroom Month Rent Per Unit
- 1000
Expenses
- R.E. Taxes
- 8439
- Property Insurance
- 2690
- Water Expense
- 2000
More Information
Auction Info
- Auction/Online Bidding Y/N
- No
Location & Property Info
- List Price/SqFt
- 140.31
- City (Mailing Addr)
- Columbus
- Corp LimitPerAuditor
- Columbus
- Dist To Intersxn
- 1
Office/Contract Info
- For Sale
- Yes
- Exchange
- No
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, $1000, $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
- Yes
Construction
- Brick
- Yes
Heat Fuel
- Gas
- Yes
Parking Features
- On Street
- Yes
Water Source
- Public
- Yes
Sewer
- Public Sewer
- Yes
Services Available
- Electricity Available
- Yes
- Natural Gas Available
- Yes
- Sewer Available
- Yes
- Storm Sewer
- Yes
- Water Available
- Yes
Miscellaneous
- Basement
- Yes
- W/D Hookups
- Yes
Tenant Pays
- Gas
- Yes
- Electricity
- Yes
Heating
- Forced Air
- Yes
New Financing
- Conventional
- Yes
Air Conditioning
- Central Air
- Yes
Owner Pays
- Sewer
- Yes
- Water
- Yes
MLS Primary PhotoSrc
- Realtor Provided
- Yes
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: March - 27 - 2026
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