295 Thurman Ave - Apartments FOR SALE


Columbus, OH 43206- Merion Village
$1,900,888 USD
614-580-2446
295 Thurman Ave, Columbus, OH for Sale
$1,900,888 USD
Apartments - FOR SALE
1/52
null | 5.61% Cap Rate

295 Thurman Ave
Columbus, OH 43206
Merion Village


OVERVIEW

*** Open House on Wednesday, July 15th @ 295 Thurman Avenue, Apartment A-1 from 4 - 6:00 p.m. This apartment is located in A-Bldg. (this is the 1st building closest to Thurman Avenue). *** Rare opportunity to acquire a beautifully maintained 10-unit brick apartment building located on desirable Thurman Avenue in one of Columbus' most sought-after rental corridors. The apartments consist of 8 - 2 bedroom & 2 - 1 bedroom. All upstairs units have wooden floors. This property has 2 parking lots. Institutional-quality investment opportunity combines strong in-place income, extensive capital improvements, and exceptional long-term upside. Current operations generate a NOI of approximately $106,600, with a 5.61% cap rate at the asking price. The property features a proven mix of traditional leases and furnished monthly rentals, offering future owners multiple strategies to increase income. Pro forma operating scenarios demonstrate the potential for significant NOI growth through expanded furnished monthly rentals. Ownership has invested extensively in renovations and major mechanical improvements, minimizing near-term capital expenditures. The property has been professionally managed with meticulous attention to maintenance, tenant retention, and operational efficiency. Located just minutes from Downtown Columbus, Nationwide Children's Hospital, Schiller Park, restaurants, coffee shops, breweries, and the heart of German Village, this walkable location continues to attract strong rental demand from professionals, healthcare employees, graduate students, and long-term residents. Current ownership is available to provide a seamless management transition and ongoing professional property management under a separate agreement, offering investors a unique opportunity to continue the property's proven operating model. Offering Memorandum available upon request. This property is Agent Owned. Agent to Agent Remarks This property is Agent owned and related to the other owners. Showings are permitted once we are in contract. DO NOT DISTURB TENANTS.

FOR SALE DETAILS

PRICE

$1,900,888 USD

PRICE/SF

$190 USD /SF

# OF UNITS

10

PRICE/UNIT

$190,089

CAP RATE

5.61%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

295 Thurman Ave, Columbus, OH 43206

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1963

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.59 AC

LAND SF

25,626 SF

ZONING

Zoning: R-2F

APN/PARCEL ID

010-023943

ASK ABOUT THIS PROPERTY

Rori LoweKeller Williams Capital Partners RealtyMore Info
614-580-2446

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Rori LoweKeller Williams Capital Partners RealtyMore Info
614-580-2446

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