299 Mayfair Boulevard, 377, Columbus, OH 43213 (MLS# 225002202)

299 Mayfair Boulevard, 377, Columbus, OH 43213

$3,200,000

Property Type: Multi-Family Lot Size (sq. ft.): 119,354 Status: Closed

Current Price: $3,200,000 List Date: 1/24/2025 Last Modified: 3/14/2025

Description

48 units on Mayfair Blvd & Dale Ave in 12 buildings (4 units per building). The portfolio consists of 33 one-bedroom, 14 two-bedroom, and 1 three-bedroom unit. As of 1/21/25, three units are vacant. Current rent roll and 2024 income/expense proforma available under documents tab. Units are Section 8 rent-subsidized. Owner provides housing stability support for tenants, continuing for up to 12 months post-sale. Built in ~1950, 12 brick buildings. Property is tax-exempt, with potential tax increase after sale. Tours available for vacant units. Tenants pay electricity & gas; owner pays water/sewer & some common electricity. Deed transfer sale. 7% management fee in proforma. No tenant displacement; CHN (seller) provides tenant support.

Supplements: ********

More Information MLS# 225002202

Location & Property Info

List Price/SqFt: 96.97 City (Mailing Addr): Columbus Corp LimitPerAuditor: Columbus Dist To Intersxn: 2

Office/Contract Info

For Sale: Yes Exchange: No

General Property Info

# of Buildings: 12 Occupancy Rate: 95 Built Prior to 1978: Yes Total Parking: 48 Building Sqft: 33000 Use Code: 680 - CHARITABLE EXEMPT-HOSPITAL... Number of Units: 48 Year Built: 1950 Acreage: 2.74

Tax Info

Zoning: R-4 Mult Parcels/Sch Dis: Yes Addl Parcel Numbers: 010-070974; 010-071142; 010-071141; 010-071140; 010-071139 Assessment: None Tax Abatement: No Parcel #: 010-070974

Remarks & Misc

Property Description: 48 units on Mayfair Blvd & Dale Ave in 12 buildings (4 units per building). The portfolio consists of 33 one-bedroom, 14 two-bedroom, and 1 three-bedroom unit. As of 1/21/25, three units are vacant. Current rent roll and 2024 income/expense proforma available under documents tab. Units are Section 8 rent-subsidized. Owner provides housing stability support for tenants, continuing for up to 12 months post-sale. Built in ~1950, 12 brick buildings. Property is tax-exempt, with potential tax increase after sale. Tours available for vacant units. Tenants pay electricity & gas; owner pays water/sewer & some common electricity. Deed transfer sale. 7% management fee in proforma. No tenant displacement; CHN (seller) provides tenant support.

Status Change Info

Sold Price/SqFt: 96.97 Under Contract Date: 2025-03-07 Sold Date: 2025-03-14 Sold Price: $3,200,000

Income/Expenses

Gross Income: 617665 Net Operating Income: 286856 Total Expenses: 330809

Addl Acceptance Cond

None Known: 1

Financials

Financials ForYearOf: 2024 Gross Rental Income: 617665

Expenses

R.E. Taxes: 38265 Property Insurance: 21335 Repairs&Maintenance: 120070 Electricity Expense: 9801 Accounting & Legal: 1888 Property Management: 43236 Gas Expense: 5396 Water Expense: 28662 Supplies: 14337 Contract Svc Expense: 49984

1 Bedroom

1 Bedroom # of Units: 33 1 Bedroom Month Rent Per Unit: 1129

2 Bedroom

2 Bedroom # of Units: 14 2 Bedroom Month Rent Per Unit: 1384

Construction

Brick: 1

3 Bedroom

3 Bedroom # of Units: 1

Heat Fuel

Gas: 1

Parking Features

On Street: 1

Sewer

Public Sewer: 1

Services Available

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

Miscellaneous

Basement: 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

Electric: 1 Sewer: 1 Trash: 1 Water: 1

MLS Primary PhotoSrc

Realtor Provided: 1

Sale Info

Seller Assisted Fin: Y Seller/Buyer Concessions: N

Location Property Info

Original List Price: 3200000 Sold Price: $3,200,000 Property Sub Type: Mixed Use Street #: 299 Street Name: Mayfair Street Suffix: Boulevard Unit/Suite #: 377 County: Franklin State: OH Zip Code: 43213 Subdiv/Cmplx/Comm: Mayfair School District: COLUMBUS CSD 2503 FRA CO. Township: None

OfficeContract Info

Status: Closed MLS Entry Date: 2025-01-24

Property Features

Addl Acceptance Cond: None Known Parking Features: On Street Owner Pays: Electric; Sewer; Trash; Water Tenant Pays: Electricity; Gas Heat Fuel: Gas Heating: Forced Air Air Conditioning: Central Air Construction: Brick Sewer: Public Sewer Services Available: Electricity Available; Natural Gas Available; Sewer Available; Water Available Miscellaneous: Basement New Financing: Conventional MLS Primary PhotoSrc: Realtor Provided

Listing Office: Keller Williams Capital Ptnrs

Listing Agent: Joseph Jackson

Last Updated: March - 14 - 2025

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