3641 Eakin Road, Columbus, OH 43204
$3,000,000
Property Type:
Multi-Family
Lot Size (sq. ft.):
8,712
Status:
Closed
Current Price:
$3,000,000
List Date:
6/03/2024
Last Modified:
3/02/2025
Description
This portfolio has had major improvements completed over the last five years. Mostly new windows & sliders, gutters, soffits, the metal decks and stairs have been repaired/replaced and the parking lots have been resurfaced. All units have been updated some with new cabinets, doors, LVT flooring and most units have new furnaces and hot water tanks. With the current rent roll the CAP rate on this portfolio is just shy of 6.8%. The new owner should see a reduced rate of expenses due to the improvements that have been completed. There are 4 vacant units, some with accepted applications. Once leased 14 units will be at $850 a month. With all 36 units being leased at $875 a month the return on this portfolio should be north of 9%.
Supplements: ********
More Information MLS# 223025552
Location & Property Info
List Price/SqFt: 102.88
City (Mailing Addr): Columbus
Corp LimitPerAuditor: Columbus
Office/Contract Info
Active on MLS: 2023-08-15
For Sale: Yes
Exchange: No
General Property Info
Built Prior to 1978: Yes
Building Sqft: 31104
Number of Units: 36
Year Built: 1963
Acreage: 0.2
Tax Info
Mult Parcels/Sch Dis: Yes
Addl Parcel Numbers: 010-119822-00, 010-119821-00, 010-119817-00, 010-119816-00, 010-119814-00, 010-119813-00, 010-119812-00, 010-136792-00, 010-088015-00
Tax Abatement: No
Taxes (Yrly): 34010.36
Parcel #: 010-119823
Tax Year: 2023
Remarks & Misc
Property Description: This portfolio has had major improvements completed over the last five years. Mostly new windows & sliders, gutters, soffits, the metal decks and stairs have been repaired/replaced and the parking lots have been resurfaced. All units have been updated some with new cabinets, doors, LVT flooring and most units have new furnaces and hot water tanks. With the current rent roll the CAP rate on this portfolio is just shy of 6.8%. The new owner should see a reduced rate of expenses due to the improvements that have been completed. There are 4 vacant units, some with accepted applications. Once leased 14 units will be at $850 a month. With all 36 units being leased at $875 a month the return on this portfolio should be north of 9%.
Status Change Info
Sold Price/SqFt: 96.45
Under Contract Date: 2024-12-06
Sold Date: 2024-12-09
Sold Price: $3,000,000
Income/Expenses
Gross Income: 316625.11
Net Operating Income: 217740.36
Total Expenses: 98884.75
Addl Acceptance Cond
None Known: 1
2 Bedroom
2 Bedroom # of Units: 36
2 Bedroom Month Rent Per Unit: 850
Construction
Brick: 1
Heat Fuel
Gas: 1
Parking Features
Common: 1
Sewer
Public Sewer: 1
Tenant Pays
Gas: 1
Water: 1
Electricity: 1
Auction Info
Auction/Online Bidding Y/N: No
Heating
Forced Air: 1
Air Conditioning
Window Unit(s): 1
Owner Pays
Trash: 1
MLS Primary PhotoSrc
Realtor Provided: 1
Location Property Info
Original List Price: 3200000
Sold Price: $3,000,000
Property Sub Type: Flat
Street #: 3641
Street Name: Eakin
Street Suffix: Road
County: Franklin
State: OH
Zip Code: 43204
Subdiv/Cmplx/Comm: Westgate Terrace
School District: COLUMBUS CSD 2503 FRA CO.
Township: None
OfficeContract Info
Status: Closed
MLS Entry Date: 2023-08-09
Property Features
Addl Acceptance Cond: None Known
Parking Features: Common
Owner Pays: Trash
Tenant Pays: Electricity; Gas; Water
Heat Fuel: Gas
Heating: Forced Air
Air Conditioning: Window Unit(s)
Construction: Brick
Sewer: Public Sewer
MLS Primary PhotoSrc: Realtor Provided
Listing Office: Keller Williams Capital Ptnrs
Listing Agent: Bryan Jarrett
Last Updated: March - 02 - 2025
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