434-438 E. Norwich Avenue

434 E. Norwich Avenue, Columbus, OH 43201
$1,525,000

Description

Brown Multifamily Advisors is pleased to offer for sale 434-438 E. Norwich Avenue, a 12-unit Ohio State University off-campus student housing investment property. This is a fantastic opportunity to acquire a well-performing student housing property in a convenient north campus location close to the Fisher College of Business and Ohio Stadium.

The property offers 12 units/22 beds with a mix of 8 – 2BD/1BA flats, 2 – 2BD/1.5BA townhouses and 2 studio units.  The two-story building was constructed in 1970 and is located just east of N. 4th Street.  The units are in good condition with most receiving new vinyl plank flooring and a few with completely renovated kitchens and baths that include stainless steel appliances, granite counters and tile tub surrounds.  The potential exists for a new owner to create additional value by renovating the rest of the units.  Other highlights include new exterior paint, thermal pane windows throughout and steel entry doors.  The property amenities include on-site laundry, central A/C and ample off-street parking spots. Utilities are all sub-metered and tenants pay electric and gas directly and reimburse the owner for water.  The property is currently 100% occupied and pre-leasing for the 2023-24 academic year is very strong.

This is a great opportunity to acquire a well-performing, turnkey student housing property with many improvements and rental upside in a solid off-campus location.

Detail

Updated on April 29, 2023 at 7:32 am

  • Property ID: 10073
  • Price: $1,525,000
  • Property Type: Multifamily Unit
  • Property Status: Recently Sold

Additional details

  • Total Units: 12
  • Total Bedrooms: 22
  • Total Square Footage: 9,376
  • Year Built: 1970
  • Acreage: 0.257
  • Address: 434 E. Norwich Avenue
  • City: Columbus
  • State/county: Ohio
  • Zip/Postal Code: 43201
  • Country: United States

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