4090 Cleveland Avenue, Columbus, OH 43224
$5,300,000
Property Type:
Multi-Family
Lot Size (sq. ft.):
160,736
Status:
Active
Current Price:
$5,300,000
List Date:
1/07/2025
Last Modified:
9/25/2025
Description
MORSE CREEK COMMONS APARTMENTS
70 - 2BRTH in North Columbus. All brick exteriors. Spacious interiors. High rental demand. High visibiity. Long time Owner/Manager getting ready to retire. There are long term tenant who are paying below market rentals. Average rent today is only $690. New residents will pay $795. Neighborhood average rent is $1095. This property does need cosmetic and other improvements but such remodeling will yield higher income. See Documents attached. . High demand spacious floor plans. Plenty of off street parking.. Lots of potential for smart operators. Please do not disturb residents. Contingent curb offerings only. Thank you. .
Supplements: ********
More Information MLS# 222043169
Location & Property Info
List Price/SqFt: 99.75
City (Mailing Addr): Columbus
Corp LimitPerAuditor: Columbus
Office/Contract Info
For Sale: Yes
Exchange: No
General Property Info
Occupancy Rate: 95
Built Prior to 1978: Yes
Building Sqft: 53133
Number of Units: 70
Year Built: 1974
Acreage: 3.69
Tax Info
Tax Abatement: No
Taxes (Yrly): 48724
Parcel #: 010-012830
Tax Year: 2021
Remarks & Misc
Property Description: MORSE CREEK COMMONS APARTMENTS
70 - 2BRTH in North Columbus. All brick exteriors. Spacious interiors. High rental demand. High visibiity. Long time Owner/Manager getting ready to retire. There are long term tenant who are paying below market rentals. Average rent today is only $690. New residents will pay $795. Neighborhood average rent is $1095. This property does need cosmetic and other improvements but such remodeling will yield higher income. See Documents attached. . High demand spacious floor plans. Plenty of off street parking.. Lots of potential for smart operators. Please do not disturb residents. Contingent curb offerings only. Thank you. .
Income/Expenses
Gross Income: 579600
Net Operating Income: 324405
Total Expenses: 255195
Addl Acceptance Cond
None Known: 1
2 Bedroom
2 Bedroom # of Units: 70
2 Bedroom Month Rent Per Unit: 690
Construction
Brick: 1
Heat Fuel
Electric: 1
Sewer
Public Sewer: 1
Services Available
Electricity Available: 1
Sewer Available: 1
Storm Sewer: 1
Water Available: 1
Miscellaneous
W/D Hookups: 1
Tenant Pays
Sewer: 1
Water: 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
Trash: 1
MLS Primary PhotoSrc
Realtor Provided: 1
Location Property Info
Original List Price: 5600000
List Price: $5,300,000
Property Sub Type: Townhouse
Street #: 4090
Street Name: Cleveland
Street Suffix: Avenue
County: Franklin
State: OH
Zip Code: 43224
School District: COLUMBUS CSD 2503 FRA CO.
Township: None
OfficeContract Info
Status: Active
MLS Entry Date: 2022-11-29
Property Features
Addl Acceptance Cond: None Known
Owner Pays: Trash
Tenant Pays: Electricity; Sewer; Water
Heat Fuel: Electric
Heating: Forced Air
Air Conditioning: Central Air
Construction: Brick
Sewer: Public Sewer
Services Available: Electricity Available; Sewer Available; Storm Sewer; Water Available
Miscellaneous: W/D Hookups
New Financing: Conventional
MLS Primary PhotoSrc: Realtor Provided
Listing Office: Thomas Fortin & Company LLC.
Listing Agent: Thomas Fortin
Last Updated: September - 25 - 2025
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