Active

295 Thurman Avenue

Columbus, OH 43206

$1,900,888 $8,014/Mo

Get Pre-Approved Check your credit

Overview

Bed

Bath

0.34

Acre(Lot)

Description

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 t hrough 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.

Property Details

Property Type : Residential Income

Price : $1,900,888

AD Id : 87848707

MLS Id : 226025465

Lot Size : 0.34 Acre

Year Built : 1963

County : Franklin

Map

What's Nearby

Nearby Areas

Features

Heating & Cooling

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

Building Information

Year Built: 1963 Construction Materials: Brick Private Pool: No

Lot Information

Main Square Feet: 0.34 Lot Size Acres: 0.34 Lot Size Square Feet: 14810.4

Property Information

Subdivision: German/Merion Village Area Source Property Type: Residential Income Zoning Description: R-2F Property SubType: Apartment Property Age: 63

Listing Price Information

Listing Price: $1900888 Conventional

Tax Information

Parcel Number: 010-023943 Tax Year: 2024 Annual Tax: $21328

Parking Information

Parking Total: 8 No Garage

Location Information

WaterSource: Public

Sell a home like this and save $113,554 Find out How

How much is this property worth?

Curious about this home's true market value? Use our free Home Evaluation Tool to instantly get a personalized Comparative Market Analysis (CMA) report. Make smarter, data-driven decisions before you buy.

Loading, please wait...

Nearby Home Value

Address	Estimate	Bed	Bath	Sq. Ft	Lot Size
1771 E Sycamore Street, Columbus, OH, 43206	$164,900	2	2	1,000	1,000 SqFt
1633 E Gates Street, Columbus, OH, 43206	$174,900	3	1	912	912 SqFt
1760 E Sycamore Street, Columbus, OH, 43206	$199,900	2	1	1,074	1,074 SqFt
1644 E Columbus Street, Columbus, OH, 43206	$199,900	3	2	1,250	1,250 SqFt
1545 Fairwood Avenue, Columbus, OH, 43206	$132,000	2	1	936	936 SqFt
1086 Seymour Avenue, Columbus, OH, 43206	$200,000	3	1	920	920 SqFt
1306 Seymour Avenue, Columbus, OH, 43206	$185,000	3	1	908	908 SqFt
1558 Forest Street, Columbus, OH, 43206	$334,999	4	2	1,512	1,512 SqFt
1052 Geers Avenue, Columbus, OH, 43206	$219,900	4	2	1,467	1,467 SqFt
899 Geers Avenue, Columbus, OH, 43206	$339,900	--	--	--