29 1St AveColumbus, OH 43201

Property Details for 29 1St Ave

Year built

1920

Lot size

0.08 AC

Property size (Sq ft)

4,104 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional 9-unit apartment building, located in Columbus, Ohio's vibrant Short North Arts District, presents a compelling value-add opportunity. The property, situated at 29 W 1st Ave, boasts 4,104 square feet across two stories, built in 1920. The building features eight spacious studio apartments and one one-bedroom unit, currently enjoying 100% occupancy. With below-market rents, significant upside potential exists for the next owner. The attractive brick façade and minimal common areas contribute to efficient management. The full basement provides additional storage space. The 0.08-acre lot is zoned Residential, R4. The property's prime location offers easy access to North High Street and proximity to Goodale Park, North Market, and the Columbus Convention Center. Residents enjoy walkability to numerous amenities, including restaurants, bars, art galleries, and boutiques. The strong historical occupancy and current NOI of $63,934, coupled with the value-add potential, make this a highly attractive investment at an asking price of $1,250,000. The property's APN is 010-064843. This is a rare opportunity to acquire a well-located, income-producing asset in a thriving urban neighborhood.

Location Insight

City

Columbus

County

Franklin

State

Ohio

Latitude

39.9801

Longitude

-83.005

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