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
Overview
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
Listing Details MLS# 224040759
Location Property Info
- Original List Price
- 1500000
- 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
- MLS Entry Date
- 2024-11-18
General Property Info
- Number of Units
- 16
- # of Buildings
- Yes
- Total Parking
- 26
- 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/SqFt
- 131.15
1 Bedroom
- 1 Bedroom # of Units
- 16
- 1 Bedroom Month Rent Per Unit
- 982
More Information
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
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
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
Income/Expenses
- Gross Income
- 164826
- Net Operating Income
- 95515
- Total Expenses
- 69311
Addl Acceptance Cond
- None Known
- Yes
Construction
- Brick
- Yes
Heat Fuel
- Gas
- Yes
Parking Features
- On Street
- Yes
Sewer
- Public Sewer
- Yes
Services Available
- Electricity Available
- Yes
- Natural Gas Available
- Yes
- Sewer Available
- Yes
- Water Available
- Yes
Miscellaneous
- Carports
- Yes
- Public Transport
- Yes
Tenant Pays
- Electricity
- Yes
Heating
- Forced Air
- Yes
New Financing
- Conventional
- Yes
Air Conditioning
- Central Air
- Yes
Owner Pays
- Gas
- Yes
- Sewer
- Yes
- Trash
- Yes
- Water
- Yes
MLS Primary PhotoSrc
- Realtor Provided
- Yes
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 C Jackson
Last Updated: December - 13 - 2024
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