642-654 W State & 83-85 S Grubb St St - Manufactured Housing/Mobile Housing FOR SALE


Columbus, OH 43215
$1,200,000 USD
614-221-4286
642-654 W State & 83-85 S Grubb St St, Columbus, OH for Sale
$1,200,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/54
null | Request Cap Rate

642-654 W State & 83-85 S Grubb St St
Columbus, OH 43215


HIGHLIGHTS

  • Fantastic opportunity for investors
  • 8 recently renovated units - a single-family house and 7 row houses
  • Located within a designated Opportunity Zone
  • Tax abatement pending
  • Future redevelopment opportunities

OVERVIEW

Investment Opportunity in East Franklinton. This multi-unit property offers a fantastic opportunity for investors in one of Columbus, most dynamic neighborhoods. Located just blocks from popular destinations such as BrewDog and Land-Grant Brewing, and less than a 5-minute walk from both, this property is well-positioned for continued growth in East Franklinton. The property consists of 8 units including a single-family house and 7 row houses, all of which have been renovated to various degrees. Recent updates include new HVAC systems, windows, roofing, siding, appliances, tile, electrical, flooring, and plumbing fixtures, ensuring a modern and low-maintenance investment. Several units have undergone extensive renovations, with potential for even greater upside as all units could be fully upgraded. Additionally, the property is located within a designated Opportunity Zone, offering significant benefits from both State and Federal programs. The State program provides a 10% tax credit on the total purchase price, enhancing the financial appeal of this investment. Moreover, the property is tax-abated on improvements, reducing ongoing operating expenses and improving cash flow potential. Sitting on a large corner lot, the property not only provides immediate rental income but also holds redevelopment potential, making it an attractive option for long-term growth. The individual units could be sold off separately, creating additional flexibility for potential investors. This is an exceptional chance to invest in a high-demand area with organic rent growth, a strong local economy, and future redevelopment opportunities.

FOR SALE DETAILS

PRICE

$1,200,000 USD

PRICE/SF

$271 USD /SF

# OF UNITS

8

PRICE/UNIT

$150,000

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1900

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

13,276 SF

ZONING

-

APN/PARCEL ID

010-001341,010-001343,010-007602,010-011329,010-015133,010-047518

ASK ABOUT THIS PROPERTY

Alex MarshThe Robert Weiler CompanyMore Info
614-221-4286

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Alex MarshThe Robert Weiler CompanyMore Info
614-221-4286

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