2373 Belcher Dr - Apartments FOR SALE


Columbus, OH 43224- Maize-Morse | 
$2,450,000 USD
513-325-4403
2373 Belcher Dr, Columbus, OH for Sale
$2,450,000 USD
Apartments - FOR SALE
1/35
null | Request Cap Rate

2373 Belcher Dr
Columbus, OH 43224
Maize-Morse


OVERVIEW

TOWNHOME APARTMENT COMMUNITY FOR SALE – COLUMBUS, OH 43224 VALUE-ADD OPPORTUNITY • 24 UNITS • EXTENSIVELY RENOVATED • PRIME NORTH COLUMBUS LOCATION 23763 Belcher Dr, Columbus, OH 43224 A RARE OPPORTUNITY TO ACQUIRE A SUBSTANTIALLY RENOVATED TOWNHOME-STYLE APARTMENT COMMUNITY! This 24-unit community offers an attractive combination of spacious townhome-style layouts, private basements, extensive renovations and significant recent capital improvements. With 21 of 24 units recently turned, much of the heavy lifting has already been completed—allowing a new owner to focus on operations, leasing and continued revenue growth. PROPERTY HIGHLIGHTS • 24 townhome-style units featuring a mix of studio, 1-, 2- and 3-bedroom layouts • 21 of 24 units recently renovated/turned • Spacious layouts with private full basements • Central air • Combination of baseboard heat and boiler systems • NEW PARKING LOT • NEWER ROOF – less than 10 years old • NEW WINDOWS • Durable luxury vinyl plank flooring • Updated kitchens, cabinets and appliances • Updated bathrooms and fixtures • Washer/dryer hookups • Professionally maintained community • Convenient North Columbus location with strong rental appeal CONDOMINIUM STRUCTURE – POTENTIAL TAX ADVANTAGE The property has been converted to a condominium structure, which may provide an opportunity for favorable property-tax treatment compared with a traditional multifamily assessment, depending on applicable tax treatment and individual unit assessments. Buyers should independently verify all tax implications with their legal and tax advisors. PRIME NORTH COLUMBUS LOCATION Conveniently located near Easton Town Center, residents enjoy easy access to shopping, restaurants, parks, entertainment and major employment centers. The property also offers convenient access to I-71 and I-270, making commuting throughout Columbus easy. SIGNIFICANT CAPITAL IMPROVEMENTS + UPSIDE With 21 of 24 units already renovated, a newer roof, new parking lot, new windows and numerous interior upgrades, this property offers an investor the opportunity to acquire a substantially improved apartment community with additional upside through continued leasing and operational optimization. Financials, rent roll, operating history and additional property information available to qualified buyers.

FOR SALE DETAILS

PRICE

$2,450,000 USD

PRICE/SF

$97 USD /SF

# OF UNITS

25

PRICE/UNIT

$98,000

CAP RATE

Request Cap Rate

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Northpointe Townhomes

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1975

PARKING SPACES

32

LAND DETAILS

LAND ACRES

0.89 AC

LAND SF

38,768 SF

ZONING

AR-1

APN/PARCEL ID

010-046170

ASK ABOUT THIS PROPERTY

John 'J.J.' HarrisonEndurance RealtyMore Info
513-325-4403

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John 'J.J.' HarrisonEndurance RealtyMore Info
513-325-4403

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