464-482 E Norwich Ave - Apartments FOR SALE


Columbus, OH 43201- Indianola Terrace
$2,100,000 USD
202-510-2689
464-482 E Norwich Ave, Columbus, OH for Sale
$2,100,000 USD
Apartments - FOR SALE
1/6
null | 5.33% Cap Rate

464-482 E Norwich Ave
Columbus, OH 43201
Indianola Terrace


HIGHLIGHTS

  • Desirable Unit Mix – 12 one-bedroom and 8 two-bedroom townhome-style units serving diverse renter profiles
  • Strong Location – Situated close to The Ohio State University in Columbus’s University District, a high-demand rental market
  • Value-Add Opportunity – Immediate upside potential through lease-up of currently vacant units
  • Includes off-street parking and on-site laundry facilities for resident convenience

OVERVIEW

Norwich Court Apartments is a 20-unit multifamily property located in Columbus’s highly desirable University District, just minutes from The Ohio State University. The unit mix consists of 12 one-bedroom/one-bath apartments and 8 two-bedroom/one-bath townhome-style units, catering to steady demand in this well-established rental market. The property currently generates $16,945 per month in rental income, with four vacant units offering immediate lease-up upside and the potential to further increase cash flow. Originally built in 1956 and well maintained, recent improvements include a newly paved front parking lot completed in 2023, enhancing both curb appeal and tenant convenience. Additional amenities such as on-site laundry facilities add to the property’s renter appeal. With a prime location, consistent income, and operational upside, Norwich Court presents a compelling investment opportunity in one of Columbus’s most proven and stable submarkets.

FOR SALE DETAILS

PRICE

$2,100,000 USD

PRICE/SF

$174 USD /SF

# OF UNITS

20

PRICE/UNIT

$105,000

CAP RATE

5.33%

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Norwich Court Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1956

PARKING SPACES

22

LAND DETAILS

LAND ACRES

0.56 AC

LAND SF

24,219 SF

ZONING

AR4

APN/PARCEL ID

010-036824

ASK ABOUT THIS PROPERTY

Matthew DraneVerti Commercial Real EstateMore Info
202-510-2689

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Matthew DraneVerti Commercial Real EstateMore Info
202-510-2689

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