3685 Cleveland Ave - Apartments FOR SALE


Columbus, OH 43224- North Linden
$2,475,000 USD
513-325-4403
3685 Cleveland Ave, Columbus, OH for Sale
$2,475,000 USD
Apartments - FOR SALE
1/11
null | 7% Cap Rate

3685 Cleveland Ave
Columbus, OH 43224
North Linden


OVERVIEW

________________________________________ ?? Investment Opportunity – Melrose Apartments Turnkey 33-Unit Multifamily | Columbus, Ohio ________________________________________ ?? PROPERTY SNAPSHOT • 33 Units Total o 12 One-Bedroom Units (~600 sq ft) o 21 Studio/Efficiency Units (~500 sq ft) • On-Site Laundry & Utility Room • Ample Off-Street Parking • Well-Lit Common Areas • Garden-Style Layout with Interior Entrances ________________________________________ ?? CONSTRUCTION & BUILDING DETAILS • Built in 1962 | Solid Brick-over-Block Construction • Concrete Foundation • 3-Tab Dimensional Shingle Roof (Replaced in 2009) • Aluminum-Framed Glass Entry Doors • Double-Insulated Steel Rear & Interior Doors ________________________________________ ?? MECHANICALS & UPGRADES • Gas Lines & Meters Replaced in 2009 • Gas Forced-Air Heating in Each Unit • Through-the-Wall A/C Units w/ Sleeves • Individual 30-Gallon Gas Water Heaters • Updated Plumbing Supply Lines & Lighting Fixtures (2009) ________________________________________ ?? WHY MELROSE? ? Stable Cash Flow Potential ? Strong Rental Demand in Columbus ? Value-Add Opportunity ? Updated Major Systems ? Great Unit Mix for Urban Renters ________________________________________ ?? FINANCIALS AVAILABLE UPON REQUEST ?? Schedule a Private Tour or Request a Full Offering Memorandum Today!

FOR SALE DETAILS

PRICE

$2,475,000 USD

PRICE/SF

$133 USD /SF

# OF UNITS

33

PRICE/UNIT

$75,000

CAP RATE

7%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Melrose Manor Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1962

PARKING SPACES

34

LAND DETAILS

LAND ACRES

0.48 AC

LAND SF

20,909 SF

ZONING

C

APN/PARCEL ID

130-003415,130-003416

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.