$4,700,000
1490 Elaine Rd Unit 1462, Columbus, OH 43227
- -Bed
- -Bath
- -SqFt
- -Bed
- -Bath
- -SqFt
- Property TypeTownhouse
- Year Built1965
- On highrises4 Days
Property Details
This recently renovated, stabilized 40-unit asset boasts an average rent of $1,128, yet current market comparables suggest upside potential pushing monthly rents toward $1,350. The business plan centers on renovating and leasing 13 under-market units, currently leased below $1,000, to market rates approaching $1,350 upon turnover. Compelling Renovation & Upside Potential - $700K of capital improvements modernized the buildings, and with average rents already at $1,128, there's room to renovate further and realize $250+/unit per month rent increases. Immediate Value-Add - 13 existing units are leased below $1,000; renovation and mark to market strategy unlocks near-term revenue growth Strong Market Fundamentals - Columbus exhibits robust net absorption, balancing supply concerns, with vacancy rates stabilizing and rent growth outpacing national averages.
Property Features
Bathrooms
- Total Bathrooms: 0
Property History
Neighborhood
Environmental Risk
- Presented by:
- Brett Ludwig
- state license#2016004572
- Brokered by:
- Verti Commercial Real Estate L
- (380) 215-6046