699 Wetmore RdColumbus, OH 43214

Property Details for 699 Wetmore Rd

Year built

1968

Property type

Residential income properties

Property subtype

Multifamily properties

Description

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.

Location Insight

City

Columbus

County

Franklin

State

Ohio

Latitude

40.0576

Longitude

-83.001

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