1155 Noe Bixby Rd - Apartments FOR SALE


Columbus, OH 43213- Greenbriar Farm
$5,950,000 USD
614-221-4286
1155 Noe Bixby Rd, Columbus, OH for Sale
$5,950,000 USD
Apartments - FOR SALE
1/45
null | Request Cap Rate

1155 Noe Bixby Rd
Columbus, OH 43213
Greenbriar Farm


HIGHLIGHTS

  • 80-unit senior multifamily asset
  • Excellent multifamily investment opportunity
  • Strategically located in a rapidly growing market
  • Locally owned and managed

OVERVIEW

Ottawa Ridge presents a rare opportunity to acquire an 80-unit senior multifamily asset significantly below replacement cost in the thriving Columbus MSA. Strategically located in a rapidly growing market, the property offers immediate upside potential with current rents well below market. While the property is subject to rent restrictions, there remains significant upside through strategic management and repositioning. With current rents still materially below allowable limits, a sophisticated operator can capitalize on operational inefficiencies and implement light value-add improvements to drive meaningful rent growth. There is currently a waitlist exceeding 1 year for these below market units. Locally owned and managed, Ottawa Ridge is well-positioned for a new owner to unlock long-term value in a strong rental market.

FOR SALE DETAILS

PRICE

$5,950,000 USD

PRICE/SF

$58 USD /SF

# OF UNITS

80

PRICE/UNIT

$74,375

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Village at Ottawa Ridge

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2006

PARKING SPACES

64

LAND DETAILS

LAND ACRES

6.78 AC

LAND SF

295,530 SF

ZONING

CPD

APN/PARCEL ID

010-256972-00

ASK ABOUT THIS PROPERTY

Alex MarshThe Robert Weiler CompanyMore Info
614-221-4286

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Alex MarshThe Robert Weiler CompanyMore Info
614-221-4286

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.