1309 Fair Avenue, Columbus, OH 43205 (MLS# 222005541)

$2,000,000

1309 Fair Avenue
Columbus, OH 43205
MLS# 222005541
Status: Closed

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Property Description
20 unit multifamily opportunity in rapidly developing Franklin Park next to Old Towne East! Between both buildings consisting of 8 large 2 bedroom/1 bath units, and 12- 1 bedroom/1 bath units. Rents are 20% below market rate. Property has many updates including stainless appliance packages and granite counters with updated restrooms and common areas. Property management can remain in place for 6%. Common area washer/dryers on each floor. Curb offers only, please do not disturb residents.

Details

Location & Property Info

Original List Price: 2000000

Sold Price: $2,040,000

List Price/SqFt: 256.15

Sub-Type: Midrise

Street #: 1309

Street Name: Fair

Street Suffix: Avenue

County: Franklin

City (Mailing Addr): Columbus

State: OH

Zip Code: 43205

School District: COLUMBUS CSD 2503 FRA CO.

Corp LimitPerAuditor: Columbus

Township: None

Office/Contract Info

Buy Brkr/Tenant Rep: Yes

BB/TR Amount: 1.5

BB/TR Amount Type: Percent

Sub Agency: No

Status: Closed

MLS Entry Date: 2022-02-28

For Sale: Yes

Exchange: Yes

General Property Info

Number of Units: 20

Building Sqft: 7808

Year Built: 1959

Built Prior to 1978: Yes

Acreage: 0.23

Tax Info

Parcel #: 010-019079

Mult Parcels/Sch Dis: Yes

Addl Parcel Numbers: 010-016312-00

Tax Year: 2021

Tax Abatement: No

Taxes (Yrly): 7608

Status Change Info

Under Contract Date: 2022-03-02

Sold Date: 2022-05-13

Sold Price: $2,040,000

Sold Price/SqFt: 261.27

Income/Expenses

Gross Income: 179075

Net Operating Income: 60101.54

Total Expenses: 118973

1 Bedroom

1 Bedroom # of Units: 12

2 Bedroom

2 Bedroom # of Units: 8

Auction Info

Auction/Online Bidding Y/N: No

Property Features

Addl Acceptance Cond: None Known

Owner Pays: Sewer; Water

Tenant Pays: Electricity

MLS Primary PhotoSrc: Realtor Provided

Listing Office: Smart Move, Realtors

Listing Agent: Jeffrey Sheu

Last Updated: January - 05 - 2024

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

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