Under Contract

357 E 14th Avenue

Columbus, OH 43201

$1,700,000 $7,167/Mo

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Overview

Bed

Bath

0.39

Acre(Lot)

Description

Located near The Ohio State University, this 16-unit property--offered by the original development family--presents a rare opportunity in one of the strongest student rental corridors in the Midwest. The building features 16 spacious 2-bedroom, 1-bathroom apartments, well-suited for student and young professional occupancy with consistent year-round demand. The property is currently stabilized at an average in-place rent of $937 per unit, well below market, with comparable rents at $1,150+. One unit is currently vacant and in need of a turn. The owner has obtained a $19,795 renovation quote for this unit. All units are individually submetered for water; however, the current owner is not utilizing the submetering system and is currently paying the water expense. This presents an immediate o pportunity for a new owner to activate the submetering system and meaningfully improve NOI. Tenants currently pay for gas and electric. The roof is less than 10 years old, and a full list of mechanical ages is available for review. The property also includes a partial basement with washer/dryer facilities, with additional NOI upside available through the implementation of rentable storage closets. Off-street parking consists of 22 total spaces, which are currently not monetized, offering a straightforward opportunity to introduce parking fees and further increase income. The property's brick construction, efficient layout, and low-maintenance profile make it a strong operational asset with limited ongoing capital requirements. While already well-positioned physically, the primary upside is driven by lease-up, rent growth, and the monetization of currently underutilized income streams. This is an ideal opportunity for an investor seeking a strategically located OSU asset with immediate value-add potential and multiple clear paths to increased NOI through both operational and leasing improvements.

Property Details

Property Type : Residential Income

Price : $1,700,000

AD Id : 77682946

MLS Id : 226013166

Lot Size : 0.39 Acre

Year Built : 1970

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: 1970 Construction Materials: Brick Private Pool: No

Lot Information

Main Square Feet: 0.39 Lot Size Acres: 0.39 Lot Size Square Feet: 16988.4

Listing Price Information

Listing Price: $1700000

Tax Information

Parcel Number: 010-016328 Tax Year: 2025 Annual Tax: $47346

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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	$204,000	4	1	1,248	1,248 SqFt
645 E 3rd Avenue, Columbus, OH, 43201	$324,900	3	2	1,428	1,428 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	$489,900	3	4	2,000	2,000 SqFt

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ByOwner last updated this listing 06/06/2026 @ 08:49

MLS: 226013166 LISTED BY: Zeke Liston, Red 1 Realty 614-585-9020 SOURCE: Columbus and Central Ohio Regional MLS