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$ 630,000
Est. payment /mo
Active
1038 Lockbourne Road Columbus, OH 43206
7,405 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Midrise
Listing Status Active
Purchase Type For Sale
MLS Listing ID 226001615
Year Built 1923
Annual Tax Amount $9,532
Lot Size 7,405 Sqft
Lot Dimensions 0.17
Property Sub-Type Midrise
Source Columbus and Central Ohio Regional MLS
Property Description
Income-producing 4-unit property generating $5,600/month ($67,200 annually) with tenants paying separate utilities, keeping owner expenses low and returns strong. Current cap rate approximately 8% with clear upside through cosmetic improvements and future rent increases.
All four units currently leased at $1,400/month, providing immediate and stable cash flow. Ideal opportunity for investors seeking a value-add property with forced appreciation potential and strong long-term rental demand.
Excellent fit for buy-and-hold investors, BRRRR strategy, or portfolio expansion. Opportunity to increase property value through interior updates and operational improvements.
Multi-family assets producing this level of income with upside potential are becoming increasingly rare at this price point.
All four units currently leased at $1,400/month, providing immediate and stable cash flow. Ideal opportunity for investors seeking a value-add property with forced appreciation potential and strong long-term rental demand.
Excellent fit for buy-and-hold investors, BRRRR strategy, or portfolio expansion. Opportunity to increase property value through interior updates and operational improvements.
Multi-family assets producing this level of income with upside potential are becoming increasingly rare at this price point.
Location
State OH
County Franklin
Area 0.17
Zoning Commercial
Rooms
Other Rooms None
Dining Room No
Interior
Equipment No
Laundry No Laundry Rooms
Schools
High Schools Columbus Csd 2503 Fra Co.
School District Columbus Csd 2503 Fra Co.
Others
Tax ID 010-049673
Listed by Michael B Pillow LPT Realty