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For sale
  • $630,000

    1038 Lockbourne Rd, Columbus, OH 43206

    --beds
    0baths
    --sqft
    : 
    Condominium
    Built in 1923
    -- sqft lot
    $-- Zestimate®
    $--/sqft
    $-- HOA

    What's special

    Income-producing 4-unit property generating $5,600/month ($67,200 annually) with tenants paying separate utilities, keeping owner expenses low and returns strong. Current cap rate approximately 8% with clear upside through cosmetic improvements and future rent increases. All four units currently leased at $1,400/month, providing immediate and stable cash flow. Ideal opportunity for investors seeking a value-add property with forced appreciation potential and strong long-term rental demand. Excellent fit for buy-and-hold investors, BRRRR strategy, or portfolio expansion. Opportunity to increase property value through interior updates and operational improvements. Multi-family assets producing this level of income with upside potential are becoming increasingly rare at this price point.
    40 days
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    186
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    7
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    Zillow last checked: 8 hours ago

    Listing updated: February 18, 2026 at 03:34pm

    Listed by:

    Michael B Pillow 740-504-6251,

    LPT Realty

    Source: Columbus and Central Ohio Regional MLS ,MLS#: 226001615MLS Logo

    Tour with a local agent

    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bathrooms: 0

    Property

    Parking
    • Total spaces: 4
    Lot
    • Size: 7,405.2 Square Feet
    Details
    • Parcel number: 010049673
    • Zoning description: Commercial

    Construction

    Type & style
    • Home type: MultiFamily
    • Property subtype: Condominium
    Condition
    • Year built: 1923
    • Major remodel year: 2025

    Utilities & green energy

    • Sewer: Public Sewer
    • Water: Public

    Community & HOA

    Location
    • Region: Columbus

    Financial & listing details

    • Tax assessed value: $366,900
    • Annual tax amount: $9,532
    • Date on market: 1/16/2026
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    Estimated market value

    Not available

    Estimated sales range

    Not available

    Not available

    Price history

    Price history
    DateEventPrice
    1/16/2026Listed for sale$630,000-1.3%
    Source: Columbus and Central Ohio Regional MLS #226001615 Report a problem
    1/5/2026Listing removed$638,000
    Source: Columbus and Central Ohio Regional MLS #225039202 Report a problem
    12/14/2025Listed for sale$638,000-5.5%
    Source: Columbus and Central Ohio Regional MLS #225039202 Report a problem
    11/13/2025Listing removed$675,000
    Source: Columbus and Central Ohio Regional MLS #225039202 Report a problem
    10/16/2025Listed for sale$675,000+0.8%
    Source: Columbus and Central Ohio Regional MLS #225039202 Report a problem
    7/15/2025Listing removed$669,900
    Source: Columbus and Central Ohio Regional MLS #225011820 Report a problem
    5/9/2025Price change$669,900-2.9%
    Source: Columbus and Central Ohio Regional MLS #225011820 Report a problem
    4/11/2025Listed for sale$689,900+6.1%
    Source: Columbus and Central Ohio Regional MLS #225011820 Report a problem
    5/25/2024Listing removed--
    Source: RE/MAX International Report a problem
    2/1/2024Price change$650,000-4.4%
    Source: Columbus and Central Ohio Regional MLS #224002973 Report a problem
    5/10/2023Price change$680,000+1.5%
    Source: Columbus and Central Ohio Regional MLS #223013474 Report a problem
    2/18/2023Price change$670,000-0.7%
    Source: Columbus and Central Ohio Regional MLS #222043188 Report a problem
    12/13/2022Price change$675,000-3.6%
    Source: Columbus and Central Ohio Regional MLS #222043188 Report a problem
    12/8/2022Price change$700,000-3.4%
    Source: Columbus and Central Ohio Regional MLS #222043188 Report a problem
    11/30/2022Listed for sale$725,000+7.4%
    Source: Columbus and Central Ohio Regional MLS #222043188 Report a problem
    6/3/2022Listing removed--
    Source: Zillow Rental Network_1 Report a problem
    6/1/2022Price change$1,400+1.8%
    Source: Zillow Rental Network_1 Report a problem
    5/27/2022Price change$1,375-3.2%
    Source: Zillow Rental Network_1 Report a problem
    5/25/2022Price change$1,420-5.3%
    Source: Zillow Rental Network_1 Report a problem
    5/19/2022Price change$1,500-6.3%
    Source: Zillow Rental Network_1 Report a problem
    5/12/2022Listed for rent$1,600
    Source: Zillow Rental Network_1 Report a problem
    5/10/2022Sold$675,000+12.7%
    Source: Columbus and Central Ohio Regional MLS #222008864 Report a problem
    3/30/2022Pending sale$599,000
    Source: Columbus and Central Ohio Regional MLS #222008864 Report a problem
    3/30/2022Contingent$599,000
    Source: Columbus and Central Ohio Regional MLS #222008864 Report a problem
    3/25/2022Listed for sale$599,000+88.4%
    Source: Columbus and Central Ohio Regional MLS #222008864 Report a problem
    6/21/2021Sold$318,000-17.4%
    Source: Columbus and Central Ohio Regional MLS #221015569 Report a problem
    5/24/2021Pending sale$385,000+369.5%
    Source: Columbus and Central Ohio Regional MLS #221015569 Report a problem
    3/11/2005Sold$82,000-3%
    Source: Public Record Report a problem
    10/5/2004Sold$84,500-33.7%
    Source: Public Record Report a problem
    11/16/1999Sold$127,500
    Source: Public Record Report a problem

    Public tax history

    Public tax history
    YearProperty taxesTax assessment
    2024$9,532 +1.6%$128,420
    2023$9,381 +178.3%$128,420 +185.8%
    2022$3,370 -0.4%$44,940
    2021$3,385 +0.7%$44,940
    2020$3,361 +9%$44,940 +20%
    2019$3,084 +0.3%$37,450
    2018$3,075 $37,450
    2017$3,075 +26.2%$37,450 +33.8%
    2016$2,437 +7.7%$28,000
    2015$2,262 $28,000
    2014$2,262 +101.9%$28,000
    2013$1,120 -49%$28,000
    2011$2,199 -8.3%$28,000 -10.4%
    2010$2,397 +2.2%$31,255
    2008$2,345 +18.4%$31,255
    2007$1,981 +0.2%--
    2006$1,977 +2.7%--
    2005$1,926 -29.4%--
    2004$2,729 +17%--
    2003$2,332 +1.1%--
    2002$2,306 -1.3%--
    2001$2,336 -0.8%--
    2000$2,355 --

    Find assessor info on the county website

    BuyAbility℠ payment

    Est. payment
    $3,736/mo
    Principal & interest
    $2996
    Property taxes
    $740

      Climate risks

      Neighborhood: Driving Park

      Getting around

      56 / 100
      Somewhat Walkable
      42 / 100
      Some Transit
      48 / 100
      Somewhat Bikeable

      Nearby schools

      GreatSchools rating

      Local experts in 43206

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