4090 Cleveland Avenue, Columbus, OH 43224
$4,250,000
Property Type:
Multi-Family
Lot Size (sq. ft.):
160,736
Status:
Closed
Current Price:
$4,250,000
List Date:
1/07/2025
Last Modified:
3/18/2026
Overview
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. .
Listing Details MLS# 222043169
Location Property Info
- Original List Price
- 5600000
- 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
- MLS Entry Date
- 2022-11-29
General Property Info
- Number of Units
- 70
- Building Sqft
- 53133
- Year Built
- 1974
- Built Prior to 1978
- Yes
- Occupancy Rate
- 95
- Acreage
- 3.69
Tax Info
- Parcel #
- 010-012830
- Tax Year
- 2021
- Tax Abatement
- No
- Taxes (Yrly)
- 48724
Status Change Info
- Under Contract Date
- 2025-11-26
- Sold Date
- 2026-03-18
- Sold Price/SqFt
- 79.99
2 Bedroom
- 2 Bedroom # of Units
- 70
- 2 Bedroom Month Rent Per Unit
- 690
More Information
Auction Info
- Auction/Online Bidding Y/N
- No
Location & Property Info
- List Price/SqFt
- 89.4
- City (Mailing Addr)
- Columbus
- Corp LimitPerAuditor
- Columbus
Office/Contract Info
- For Sale
- Yes
- Exchange
- No
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
- Yes
Construction
- Brick
- Yes
Heat Fuel
- Electric
- Yes
Sewer
- Public Sewer
- Yes
Services Available
- Electricity Available
- Yes
- Sewer Available
- Yes
- Storm Sewer
- Yes
- Water Available
- Yes
Miscellaneous
- W/D Hookups
- Yes
Tenant Pays
- Sewer
- Yes
- Water
- Yes
- Electricity
- Yes
Heating
- Forced Air
- Yes
New Financing
- Conventional
- Yes
Air Conditioning
- Central Air
- Yes
Owner Pays
- Trash
- Yes
MLS Primary PhotoSrc
- Realtor Provided
- Yes
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 J Fortin
Last Updated: March - 18 - 2026
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