700 Franklin Avenue

Columbus OH 43205

Multi-Family

Currently for sale - view listing

Overview

Fully occupied, 12-unit brick walk-up with 11 detached garage bays in Olde Towne East, minutes from Downtown Columbus. It has undergone significant renovation since 2018, the three-story building offers eleven 2 bed / 2 bath apartments and one 3 bed / 1 bath, with hardwood floors, exposed brick, ceiling fans, and white-cabinet kitchens with stone countertops. Select units add an enclosed sunroom. The property is 100% occupied. In-place rents average $1,870 with a gross monthly income of $22,915. Only 3 of the 11 garage bays are currently leased, which adds a further income opportunity at $150 per bay. With substantial capital improvements, strong in-place cash flow, and additional upside through garage leasing, this property presents an attractive opportunity for investors seeking a stabilized multifamily asset in one of Columbus' most desirable urban neighborhoods.

Features

11 carspaces

1 garage space

Multi-Family

Property history for 700 Franklin Avenue

2018

Sold

$1,350,000

27 Aug 2018 by Nina Masseria, of Carriage Trade Realty, Inc.

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