40 McMillen Avenue

40 McMillen Avenue, Columbus, OH 43201
$2,000,000

Description

Brown Multifamily Advisors is pleased to offer for sale 40 McMillen Avenue, an 18-unit OSU off-campus student housing investment opportunity.  The property is situated three blocks south of OSU’s main campus and just one parcel west of High Street – the main thoroughfare of college bars, restaurants, university shops, and entertainment venues. The asset offers tenants easy access to the university’s main campus while providing a convenient route to the Short North entertainment district.

Constructed in 1965, the property contains 18 – 1BD/1BA flats on three levels with on-site laundry and 16 off-street parking spaces. The property has received extensive renovations, including new kitchens with appliances and dishwashers, new baths, flooring, and replacement of through-wall GE® 115 Volt Built-In Heat/Cool Room Air Conditioner units as well as exterior improvements, such as a new roof, new walk-up stairways, new front doors with e-locks, exterior paint and seal coating of the parking lot.  Tenants pay electric directly and reimburse the owner for gas and water. The property is currently 100% occupied and pre-leasing is strong for the 2023-24 OSU academic year.

This is a great opportunity to acquire a well-performing student housing property with many recent renovations in an outstanding location.

Detail

Updated on June 28, 2023 at 2:20 pm

  • Property ID: 10074
  • Price: $2,000,000
  • Property Type: Multifamily Unit
  • Property Status: Recently Sold

Additional details

  • Total Units: 18
  • Total Bedrooms: 18
  • Total Square Footage: 9,964
  • Year Built: 1965
  • Acreage: 0.21
  • Address: 40 McMillen Avenue
  • City: Columbus
  • State/county: Ohio
  • Zip/Postal Code: 43201
  • Country: United States

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