Under Contract

2103 Iuka Avenue

Columbus, OH 43201

$1,175,000 $4,953/Mo

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Overview

Bed

Bath

0.20

Acre(Lot)

Description

Rare opportunity to acquire a 10-unit multifamily property from the original development family, ideally located on Iuka Avenue overlooking Iuka Ravine--one of the most desirable residential corridors adjacent to The Ohio State University. The property benefits from strong, consistent demand driven by both student housing and short-term rental markets. Each unit features a spacious 2-bedroom, 1-bathroom layout. Currently, six units are leased to long-term tenants at an average rent of $955/unit--well below market--while three units operate as fully furnished short-term rentals, offering the flexibility to continue the STR model or convert to long-term leases at projected market rents of $1,350+. One unit is fully gutted, presenting a clear value-add opportunity; ownership has obtained a $3 5,000 renovation quote to bring it back online. The property has been well maintained while still offering meaningful upside through interior and operational improvements. The roof is approximately 10 years old and in good condition, and a full list of mechanical ages is available for review. The exterior stairway is original and will require replacement in the near term; the owner has secured a quote of $48,500. All utilities are sub-metered, with tenants paying for gas, electric, and water, providing strong expense control and improved operating efficiency. Additional income potential exists through the four-car garage--currently, one space is utilized by a tenant, with the remaining three owner-occupied--as well as the on-site laundry facility, which could be converted to coin-operated for increased revenue. This is a compelling value-add opportunity for an investor to significantly increase NOI in a premier, high-demand location.

Property Details

Property Type : Residential Income

Price : $1,175,000

AD Id : 77682960

MLS Id : 226013163

Lot Size : 0.20 Acre

Year Built : 1970

County : Franklin

Map

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Features

Heating & Cooling

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

Building Information

Year Built: 1970 Construction Materials: Brick Private Pool: No

Lot Information

Main Square Feet: 0.2 Lot Size Acres: 0.2 Lot Size Square Feet: 8712

Listing Price Information

Listing Price: $1175000

Tax Information

Parcel Number: 010-047039 Tax Year: 2025 Annual Tax: $32408

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Nearby Home Value

Address	Estimate	Bed	Bath	Sq. Ft	Lot Size
982 Olmstead Avenue, Columbus, OH, 43201	$245,000	3	2	1,435	1,435 SqFt
841 Saint Clair Avenue, Columbus, OH, 43201	$155,000	2	2	1,120	1,120 SqFt
927 Camden Avenue, Columbus, OH, 43201	$135,000	2	1	726	726 SqFt
804 Gibbard Avenue, Columbus, OH, 43201	$324,900	2	3	1,220	1,220 SqFt
663 E 2nd Avenue, Columbus, OH, 43201	$199,000	4	1	1,248	1,248 SqFt
1000 N 9th Street, Columbus, OH, 43201	$250,000	4	4	1,279	1,279 SqFt
606 Reynolds Avenue, Columbus, OH, 43201	$211,900	3	1	1,056	1,056 SqFt
268 Neruda Avenue, Columbus, OH, 43201	$1,000,000	3	4	3,098	3,098 SqFt
1239 Cromartie Lane, Columbus, OH, 43201	$479,900	3	4	2,000	2,000 SqFt
1299 N Grant Avenue, Columbus, OH, 43201	$489,999	3	4	1,954	1,954 SqFt

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ByOwner last updated this listing 06/12/2026 @ 00:31

MLS: 226013163 LISTED BY: Zeke Liston, Red 1 Realty 614-585-9020 SOURCE: Columbus and Central Ohio Regional MLS