For Sale | Nelson Garden Apartments

730-748 N Nelson Rd, Columbus, OH

$1,125,000

Price

7.78%

Cap Rate

$87,550

NOI

Overview
Cap Rate
7.78%
NOI
$87,550
Cash-on-Cash
10%
Building Size
16,408 sqft
Units
16
Year Built
1958
Year Last Renovated
2019
Description

A great opportunity to own a solid unit mix near downtown Columbus. This experienced owner-operator has completely renovated this property into a turn-key asset. It's ready for a new investor to enter the rapidly growing Columbus market or for a seasoned owner to add units to their portfolio and begin collecting rent immediately. While recently renovated, there is still a significant amount of investment upside available for value add investors.

Highlights
  • Significant capital improvements include all roofs, interiors, windows, black top, fencing, and most HVAC
  • 8 - 2 bed/1 bath
  • 8 - 3 bed/1 bath
  • All brick and exterior entrances
  • Below market rents
  • Upside through installation of A/C units (8) and bringing rents to market levels.
  • Currently receiving a $50/month/unit rent increase for installation of A/C units.
Documents
Title
Offering Memorandum
* Documents permissions are set by the listing owner, request information to access locked documents.

Location
Gallery