699 Wetmore Road, Columbus, OH 43214
$1,625,000
Property Type:
Multi-Family
Status:
Closed
Current Price:
$1,625,000
List Date:
11/18/2024
Last Modified:
12/13/2024
Description
Clintonville 16-Unit Apt Building located at the corner of Indianola & Wetmore Rd. Features 15 one-bedroom units and 1 studio, with 14 units currently leased as of 11/15/24, generating an AVG rent of $982.85/m. The rent roll is available under documents. New roof 2018. There are 14 carports and off-street parking for approx. 12 additional vehicles.
Owner covers gas, water, and sewer, while residents pay electricity. With two units renting for $1,095 and $1,145, there's potential for rent increases. This building is a stable, long-term investment located on a bus line. Buyer concessions may be considered. This building is a stable long-term investment on the bus line that is a GOOD CANDIDATE FOR an A 1031 EXCHANGE BUYER. New roof in 2018
Supplements: ********
More Information MLS# 224040759
Location & Property Info
List Price/SqFt: 121.07
City (Mailing Addr): Columbus
Corp LimitPerAuditor: Columbus
Dist To Intersxn: 0.5
Office/Contract Info
For Sale: Yes
Exchange: No
General Property Info
# of Buildings: 1
Occupancy Rate: 94
Built Prior to 1978: Yes
Total Parking: 26
Building Sqft: 12390
Lot Size (Side): 180
Use Code: 401 - APARTMENT:4-19 UNITS
Number of Units: 16
Year Built: 1968
Tax Info
Zoning: AR-1
Mult Parcels/Sch Dis: Yes
Addl Parcel Numbers: 010084789 & 010084788
Assessment: none
Tax Abatement: No
Taxes (Yrly): 29566
Parcel #: 010-084787
Tax Year: 2023
Remarks & Misc
Property Description: Clintonville 16-Unit Apt Building located at the corner of Indianola & Wetmore Rd. Features 15 one-bedroom units and 1 studio, with 14 units currently leased as of 11/15/24, generating an AVG rent of $982.85/m. The rent roll is available under documents. New roof 2018. There are 14 carports and off-street parking for approx. 12 additional vehicles.
Owner covers gas, water, and sewer, while residents pay electricity. With two units renting for $1,095 and $1,145, there's potential for rent increases. This building is a stable, long-term investment located on a bus line. Buyer concessions may be considered. This building is a stable long-term investment on the bus line that is a GOOD CANDIDATE FOR an A 1031 EXCHANGE BUYER. New roof in 2018
Status Change Info
Sold Price/SqFt: 131.15
Under Contract Date: 2024-12-10
Sold Date: 2024-12-13
Sold Price: $1,625,000
Income/Expenses
Gross Income: 164826
Net Operating Income: 95515
Total Expenses: 69311
Addl Acceptance Cond
None Known: 1
Financials
Financials ForYearOf: 2024
Gross Rental Income: 164826
Expenses
R.E. Taxes: 29837
Property Insurance: 8377
Repairs&Maintenance: 16567
Gas Expense: 12191
1 Bedroom
1 Bedroom # of Units: 16
1 Bedroom Month Rent Per Unit: 982
Construction
Brick: 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
Carports: 1
Public Transport: 1
Tenant Pays
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
Gas: 1
Sewer: 1
Trash: 1
Water: 1
MLS Primary PhotoSrc
Realtor Provided: 1
Sale Info
Seller Assisted Fin: N
Seller/Buyer Concessions: N
Location Property Info
Original List Price: 1500000
Sold Price: $1,625,000
Property Sub Type: Midrise
Street #: 699
Street Name: Wetmore
Street Suffix: Road
County: Franklin
State: OH
Zip Code: 43214
School District: COLUMBUS CSD 2503 FRA CO.
Township: None
OfficeContract Info
Status: Closed
MLS Entry Date: 2024-11-18
Property Features
Addl Acceptance Cond: None Known
Parking Features: On Street
Owner Pays: Gas; Sewer; Trash; Water
Tenant Pays: Electricity
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: Carports; Public Transport
New Financing: Conventional
MLS Primary PhotoSrc: Realtor Provided
Listing Office: Keller Williams Capital Ptnrs
Listing Agent: Joseph Jackson
Last Updated: December - 13 - 2024
The data relating to real estate for sale on this site comes from the Broker Reciprocity/IDX of Columbus Board of Realtors Multiple Listing Service.Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. Columbus Board of Realtors Multiple Listing Service does not create, control or review the property data displayed herein and take no responsibility for the content of such records. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing. Copyright 2020 Columbus Board of Realtors. All rights reserved.
