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
Overview
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%.
Listing Details MLS# 223025552
Location Property Info
- Original List Price
- 3200000
- 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
- MLS Entry Date
- 2023-08-09
General Property Info
- Number of Units
- 36
- Building Sqft
- 31104
- Year Built
- 1963
- Built Prior to 1978
- Yes
- Acreage
- 0.2
Tax Info
- Parcel #
- 010-119823
- 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 Year
- 2023
- Tax Abatement
- No
- Taxes (Yrly)
- 34010.36
Status Change Info
- Under Contract Date
- 2024-12-06
- Sold Date
- 2024-12-09
- Sold Price/SqFt
- 96.45
2 Bedroom
- 2 Bedroom # of Units
- 36
- 2 Bedroom Month Rent Per Unit
- 850
More Information
Auction Info
- Auction/Online Bidding Y/N
- No
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
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%.
Income/Expenses
- Gross Income
- 316625.11
- Net Operating Income
- 217740.36
- Total Expenses
- 98884.75
Addl Acceptance Cond
- None Known
- Yes
Construction
- Brick
- Yes
Heat Fuel
- Gas
- Yes
Parking Features
- Common
- Yes
Sewer
- Public Sewer
- Yes
Tenant Pays
- Gas
- Yes
- Water
- Yes
- Electricity
- Yes
Heating
- Forced Air
- Yes
Air Conditioning
- Window Unit(s)
- Yes
Owner Pays
- Trash
- Yes
MLS Primary PhotoSrc
- Realtor Provided
- Yes
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 C Jarrett
Last Updated: March - 02 - 2025
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