4090 Cleveland Avenue, Columbus, OH 43224 (MLS# 222043169)

$5,500,000

4090 Cleveland Avenue
Columbus, OH 43224
MLS# 222043169
Status: Pending

1 / 19

Property Description
MORSE CREEK COMMONS APARTMENTS 70 - 2BRTH in North Columbus. All brick exteriors. Spacious interiors. High rental demand. High visibiity. Long time Owner/Manager getting ready to retire. There are long term tenant who are paying below market rentals. Average rent today is only $690. New residents will pay $795. Neighborhood average rent is $1095. This property does need cosmetic and other improvements but such remodeling will yield higher income. See Documents attached. . High demand spacious floor plans. Plenty of off street parking.. Lots of potential for smart operators. Please do not disturb residents. Contingent curb offerings only. Thank you. .

Details

Location & Property Info

Original List Price: 5600000

List Price: $5,500,000

List Price/SqFt: 103.51

Sub-Type: Townhouse

Street #: 4090

Street Name: Cleveland

Street Suffix: Avenue

County: Franklin

City (Mailing Addr): Columbus

State: OH

Zip Code: 43224

School District: COLUMBUS CSD 2503 FRA CO.

Corp LimitPerAuditor: Columbus

Township: None

Office/Contract Info

Buy Brkr/Tenant Rep: Yes

BB/TR Amount: 2

BB/TR Amount Type: Percent

Sub Agency: No

Sold Non-MLS: No

Status: Pending

MLS Entry Date: 2022-11-29

For Sale: Yes

Exchange: No

General Property Info

Number of Units: 70

Building Sqft: 53133

Year Built: 1974

Built Prior to 1978: Yes

Occupancy Rate: 95

Acreage: 3.69

Tax Info

Parcel #: 010-012830

Tax Year: 2021

Tax Abatement: No

Taxes (Yrly): 48724

Status Change Info

Under Contract Date: 2024-03-20

Income/Expenses

Gross Income: 579600

Net Operating Income: 324405

Total Expenses: 255195

2 Bedroom

2 Bedroom # of Units: 70

2 Bedroom Month Rent Per Unit: 690

Auction Info

Auction/Online Bidding Y/N: No

Property Features

Addl Acceptance Cond: None Known

Owner Pays: Trash

Tenant Pays: Electricity; Sewer; Water

Heat Fuel: Electric

Heating: Forced Air

Air Conditioning: Central

Construction: Brick

Sewer: Public Sewer

Services Available: Electric; Sanitary Sewer; Storm Sewer; Water

Miscellaneous: W/D Hookups

New Financing: Conventional

MLS Primary PhotoSrc: Realtor Provided

Listing Office: Thomas Fortin & Company LLC.

Listing Agent: Thomas Fortin

Last Updated: March - 20 - 2024

The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

The data relating to real estate for sale on this site comes from the Broker Reciprocity/IDX of Columbus Board of Realtors Multiple Listing Service.Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. Columbus Board of Realtors Multiple Listing Service does not create, control or review the property data displayed herein and take no responsibility for the content of such records. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing. Copyright 2020 Columbus Board of Realtors. All rights reserved.