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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.
    87 days
    |
    129
    |
    9
    |

    Zillow last checked: 9 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

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      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

        Monthly payment

        Est. payment
        $3,834/mo
        Principal & interest
        $3094
        Property taxes
        $740
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          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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