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
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
General Property Info
Number of Units: 16
# of Buildings: 1
Total Parking: 26
Carport Spaces: 3
Off Street Parking Spaces: 1
Building Sqft: 12390
Year Built: 1968
Built Prior to 1978: Yes
Occupancy Rate: 94
Lot Size (Side): 180
Use Code: 401 - APARTMENT:4-19 UNITS
Tax Info
Parcel #: 010-084787
Zoning: AR-1
Mult Parcels/Sch Dis: Yes
Addl Parcel Numbers: 010084789 & 010084788
Assessment: none
Tax Year: 2023
Tax Abatement: No
Taxes (Yrly): 29566
Status Change Info
Under Contract Date: 2024-12-10
Sold Date: 2024-12-13
Sold Price: $1,625,000
Sold Price/SqFt: 131.15
1 Bedroom
1 Bedroom # of Units: 16
1 Bedroom Month Rent Per Unit: 982
Financials
Financials ForYearOf: 2024
Gross Rental Income: 164826
Expenses
R.E. Taxes: 29837
Property Insurance: 8377
Repairs&Maintenance: 16567
Gas Expense: 12191
Auction Info
Auction/Online Bidding Y/N: No
Sale Info
Seller Assisted Fin: N
Seller/Buyer Concessions: N
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
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