For Sale
$2,650,000

602 Town St Columbus, OH 43215

14-unit apartment complex, expansion potential.

Overview

Added:
Dec 11, 2024
Days on market:
137
This exceptional investment opportunity presents a 14-unit apartment building located at 602 E Town St, Columbus, OH 43215, in Franklin County. The property, built in 1932, boasts 12,702 square feet on a 0.74-acre lot (APN: 010-026431-00) and is zoned DD. Currently featuring 14 units, this two-story building offers significant upside potential with approved plans for an additional 24 units. The existing units provide below-market rents, creating a strong value-add opportunity for immediate income generation while the new construction proceeds. A key amenity is the underground parking available for residents. The property's prime location minutes from downtown Columbus, within a thriving submarket popular with young professionals, ensures strong occupancy and rental demand. The asking price is $2,650,000 ($208.63/sq ft, $189,285.71/unit). This is a rare chance to acquire a multifamily property with immediate income and substantial future growth potential.

Highlights

  • Unique investment opportunity in a prime Columbus location.
  • 14-unit apartment complex with below-market rents.
  • Approved plans for an additional 24 units, offering significant value-add potential.
  • Underground parking for residents.
  • Excellent downtown Columbus location in a thriving submarket.

Property Details for 602 Town St

Property type
Apartment buildings
Square Feet
12,702 SF
Year Built
1932
Stories
2
Lot Size (sq. ft)
32,234 SF
Units
14

Location Insight

City
Columbus
County
Franklin
State
Ohio
Latitude
39.9609125
Longitude
-82.9837754

FAQs

What type of property is this?
Apartment building - 14-unit apartment complex, expansion potential.
Where is the apartment building located?
The property is located at 602 Town St Columbus, OH.
What is the asking price?
The asking price for this property is $2,650,000.
What are key features of this property?
This property features: Unique investment opportunity in a prime Columbus location.; 14-unit apartment complex with below-market rents.; Approved plans for an additional 24 units, offering significant value-add potential.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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602 Town St
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