For sale by owner
  • $715,000

    990-1000 S Ohio Ave, Columbus, OH 43206

    12beds
    5,708sqft
    : 
    MultiFamily
    Built in 1913
    -- sqft lot
    $-- Zestimate®
    $125/sqft
    $-- HOA

    Overview

    Investor Opportunity — 6-Unit Brick Rowhome Building | 8.7% Cap | ~15% Cash-on-Cash | Strong ROI Offering an 8.7% cap rate, approximately 15% cash-on-cash return, and a compelling ROI at current performance, this 6-unit brick townhome-style building delivers immediate, stable income with strong fundamentals and clear upside potential. Featuring six 2-bedroom / 1-bath apartments totaling 5,708 sq ft (~951 sf per unit), the property blends timeless brick architecture with extensive modernization — a turnkey, high-yield investment designed for low maintenance and long-term performance. Between 2018 and 2025, ownership completed major capital improvements: all roofs and gutters replaced, electrical systems fully upgraded, and each unit pre-wired for second-floor A/C installation. Security enhancements include protective features on first-floor windows and dusk-to-dawn exterior lighting in the rear for added safety and tenant peace of mind. Interiors have been refreshed with modern kitchens, baths, and durable finishes throughout. A gravel on-site parking area provides one dedicated space per unit (six total), and tenants enjoy a large shared backyard perfect for gatherings, picnics, or volleyball games — a unique amenity that builds community and supports long-term retention. With the heavy lifting already done, this asset offers low ongoing maintenance requirements and limited near-term capital exposure. At the current rent schedule and $715,000 list price, it provides strong in-place returns and the potential for future rent growth — an ideal cashflow property positioned for appreciation. Highlights Six 2BR / 1BA units (~951 sf avg; total 5,708 sf) Separately metered for gas and electric (shared water/sewer) All roofs, gutters, and electrical systems replaced 2023–2025 Each unit wired for second-floor A/C installation Security features added: protected first-floor windows & dusk-to-dawn rear lighting Gravel on-site parking — one dedicated space per unit Expansive shared backyard for gatherings, picnics, and recreation Low-maintenance asset with major systems already completed Pro forma NOI ˜ $62,400 • Cap Rate ˜ 8.7% • Cash-on-Cash ˜ 15% Strong in-place income with upside potential through rent optimization
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