3145-3235 Sterling Ln - Apartments FOR SALE


Columbus, OH 43219- Bexley
$2,900,000 USD
484-947-8470
3145-3235 Sterling Ln, Columbus, OH for Sale
$2,900,000 USD
Apartments - FOR SALE
1/40
null | 7.59% Cap Rate

3145-3235 Sterling Ln
Columbus, OH 43219
Bexley


HIGHLIGHTS

  • 98% Project Based Section 8 // Family Designation
  • Utilities / Tenant Paid Gas and Electric
  • Parking // 63 On Site Parking Spaces

OVERVIEW

Sterling Court Apartments is a 44-unit, family designated, Project Based Section 8 facility with an Option 2 and 4 contract in Columbus, Ohio. This facility is located on a private roadway that offers tenants 63 spaces, independent to the driving lane. Tenants in this facility are responsible for their electric and gas bill, while owner pays for water and sewer. Although this appears as one community, there are two HAP contracts. One of the contracts was effective 12/1/2021 for a 5 year term. The second HAP contract was effective 2/1/2022 for a 5 year term. One of the units is not subject to the HAP, while 27 of the 43 units have a Gross Monthly Contract Rent effective 2/1/2025 of $1,175 with a UA of $203 subtracted for a Contract Rent of $922. The last 16 of 43 units a Gross Monthly Contract Rent effective 12/1/2024 of $1,104 with a UA of $197 subtracted for a Contract Rent of $907.

FOR SALE DETAILS

PRICE

$2,900,000 USD

PRICE/SF

$64 USD /SF

# OF UNITS

43

PRICE/UNIT

$67,442

CAP RATE

7.59%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sterling Court

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1970

PARKING SPACES

63

LAND DETAILS

LAND ACRES

2.55 AC

LAND SF

110,899 SF

ZONING

-

APN/PARCEL ID

010-008150,010-008151,010-018565,010-020696,010-024284,010-036827,010-045270,010-048209,010-058318,010-059828,010-066710,010-066737,010-077439,010-082023,010-082066,010-082293,010-083996

ASK ABOUT THIS PROPERTY

Jonathan MassaroAffordable Housing SalesMore Info
484-947-8470

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Jonathan MassaroAffordable Housing SalesMore Info
484-947-8470

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.