For Sale
$347,000

5531 Worcester Dr Columbus, OH 43232

Two-unit apartment building, excellent rental potential

Overview

Added:
Dec 11, 2024
Days on market:
134
This Columbus, Ohio duplex, located at 5531 Worcester Drive, presents a compelling investment opportunity. Built in 1971, this property sits on a spacious 13,939.2 square foot lot and features two units, each boasting three bedrooms and two and a half bathrooms, complete with basements. While the kitchens and bathrooms are in fair condition and haven't been upgraded, the property benefits from recent improvements including an upgraded electrical panel, a newer hot water tank, and a gas furnace. Each unit includes washer/dryer hookups and ample shelving for storage. The exterior requires minimal maintenance. Currently, one unit is leased until May 1, 2025, at a monthly rent of $925, while the other is month-to-month at the same rate. Rental rates are significantly below market value, offering immediate potential for increased income. Tenants are responsible for gas and electric, while the owner covers water expenses. The asking price is $347,000, translating to $138.36 per square foot. This is a long-term rental property with a history of stable ownership. Curbside offers only.

Highlights

  • $347,000 asking price for this Columbus, OH multifamily property.
  • Two-unit apartment building, categorized as a duplex.
  • 13,939.2 sq ft lot.
  • Built in 1971, with a price per square foot of $138.36.
  • Each unit features three bedrooms and two and a half bathrooms, plus a basement. Units are in fair condition, with some recent updates including electrical panel and hot water tank upgrades. Gas furnace and washer/dryer hookups are present.
  • Currently generating below-market rental income; one unit leased through 5/1/25, the other month-to-month. Tenants pay gas and electric; owner pays water.

Property Details for 5531 Worcester Dr

Property type
Apartment buildings, Small apartment buildings
Year Built
1971
Units
2

Location Insight

City
Columbus
County
Franklin
State
Ohio
Latitude
39.9355144
Longitude
-82.8453191

FAQs

What type of property is this?
Apartment building - Two-unit apartment building, excellent rental potential
Where is the apartment building located?
The property is located at 5531 Worcester Dr Columbus, OH.
What is the asking price?
The asking price for this property is $347,000.
What are key features of this property?
This property features: $347,000 asking price for this Columbus, OH multifamily property.; Two-unit apartment building, categorized as a duplex.; 13,939.2 sq ft lot.
How can I contact the broker?
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5531 Worcester Dr
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