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1106-1116 Parsons Avenue

Columbus, OH 43206

$1,200,000 $5,059/Mo

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Overview

Bed

Bath

0.15

Acre(Lot)

Description

Turnkey 6-Unit Multifamily Investment | Strong Cash Flow | Major Capital Improvements Completed Exceptional opportunity to acquire a fully occupied 6-unit apartment building in one of Columbus' rapidly growing investment corridors. The property consists of **five 2-bedroom, 1.5-bath units and one 2-bedroom, 1-bath unit**, offering a desirable unit mix with strong rental demand. Currently **100% occupied**, the property generates **$100,920 in annual gross income** and **$71,429 in net operating income**, providing immediate cash flow for investors. Long-term leases are in place, creating stable income from day one. Ownership has invested substantially in the property with **major capital improvements completed between 2023 and 2025**. In **May 2025**, all **six electrical panels w ere replaced**, bringing the property into full code compliance. This $15,000 improvement also reduced insurance costs from approximately **$700 per month to just $214 per month**, creating an estimated **$5,800 in annual operating expense savings** and improving overall cash flow. Additional updates include **new furnaces in Units 1106, 1110, and 1116**, **new dishwashers in Units 1106, 1108, 1110, 1112, and 1116**, a **new landlord-owned washer and dryer in Unit 1110**, a **new water heater in Unit 1110**, and a **new A/C unit in Unit 1112**. Conveniently located just minutes from Downtown Columbus, Nationwide Children's Hospital, German Village, and major highways, this property benefits from strong rental demand, continued neighborhood redevelopment, and excellent long-term appreciation potential. Whether you're completing a 1031 exchange or expanding your multifamily portfolio, this is a rare opportunity to acquire a stabilized, income-producing asset with significant recent capital improvements and minimal deferred maintenance. Please do not disturb tenants. Financials, rent roll, leases, and additional due diligence documents are available upon request after an a

Property Details

Property Type : Residential Income

Price : $1,200,000

AD Id : 86136772

MLS Id : 226023174

Lot Size : 0.15 Acre

Year Built : 1925

County : Franklin

Map

What's Nearby

Nearby Areas

Features

Room Information

Has Basement: Yes
Heating & Cooling

Has Heating: Yes Heating: Forced Air, Natural Gas Has Cooling: Yes Cooling: Central Air

Building Information

Year Built: 1925 Construction Materials: Brick Private Pool: No

Lot Information

Main Square Feet: 0.15 Lot Size Acres: 0.15 Lot Size Square Feet: 6534

Listing Price Information

Listing Price: $1200000 Conventional

Tax Information

Parcel Number: 010-026752 Tax Year: 2025 Annual Tax: $16218.12

Location Information

WaterSource: Public

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