For Sale
$1,500,000

699 Wetmore RdColumbus, OH 43214

16-Unit Multifamily Investment Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
114
This 16-unit apartment building, located at 699 Wetmore Road in Columbus, Ohio, presents a compelling investment opportunity. Built in 1968, this property boasts 15 one-bedroom units and one studio apartment. As of November 15, 2024, 14 units are currently leased, generating an average monthly rent of $982.85. Two units command higher rents of $1,095 and $1,145, suggesting potential for further rental income growth. The property features 14 carports and additional off-street parking for approximately 12 vehicles. Utilities are handled with the owner covering gas, water, and sewer, while tenants are responsible for electricity. The building enjoys a 94% occupancy rate and sits on a convenient bus line, enhancing its appeal to tenants. The asking price is $1,500,000, translating to $121.07 per square foot. The property's location at the corner of Indianola and Wetmore Roads in the Clintonville neighborhood offers excellent visibility and accessibility. Buyer concessions may be considered. This property is well-suited for a 1031 exchange buyer seeking a stable, long-term investment. A detailed rent roll is available upon request. The lot size is not specified.

Highlights

  • 16-unit apartment building in Columbus, OH, built in 1968.
  • 15 one-bedroom units and 1 studio; 14 of 16 units currently leased (94% occupancy) at an average monthly rent of $982.85.
  • 14 carports and approx. 12 additional off-street parking spaces.
  • Owner pays gas, water, & sewer; tenants pay electricity.
  • Asking price: $1,500,000 ($121.07/sq ft); Buyer concessions possible; Suitable for 1031 exchange.

Property Details for 699 Wetmore Rd

Property type
Apartment buildings, Small apartment buildings
Year Built
1968
Units
16

Location Insight

City
Columbus
County
Franklin
State
Ohio
Latitude
40.0576257
Longitude
-83.0010021
699 Wetmore Rd, Columbus, Ohio

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699 Wetmore Rd
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