1296 Parsons Avenue, Columbus, OH 43206 (MLS# 222043202)

1296 Parsons Avenue, Columbus, OH 43206

$1,850,000

Property Type: Multi-Family Lot Size (sq. ft.): 13,068 Status: Closed

Current Price: $1,850,000 List Date: 11/30/2022 Last Modified: 2/26/2025

Description

Fully renovated 2022. 10 Units. Each unit is ~1,000SF with 2 bedroom 1.5 bath, laundry hookups, Ecobee thermostats, heat pump HVAC, front and rear private porches. Condo conversion complete and condo association setup. Not operating as condo currently. New water service, mechanicals, electric, plumbing, roofing, windows, removed walls to create open floor plans. Tax abated 15 years 100% with no affordability requirements. Current owner paid affordability waiver. In Ohio Opportunity Zone and eligible for 10% investment tax credit! Secure access controlled parking lot with 10 spaces. 6 units currently operated as short term rentals, 2 units leased, and 2 units just finished renovations and available to lease. Minutes to Downtown, German Village, Grocery, Library, and more.

Supplements: ********

More Information MLS# 222043202

Location & Property Info

List Price/SqFt: 179.44 City (Mailing Addr): Columbus Corp LimitPerAuditor: Columbus

Office/Contract Info

For Sale: Yes Exchange: No

General Property Info

# of Buildings: 2 Occupancy Rate: 80 Built Prior to 1978: Yes Total Parking: 10 Building Sqft: 13932 Lot Size (Side): 140 Use Code: 401 - APARTMENT:4-19 UNITS Number of Units: 10 Year Built: 1910 Acreage: 0.3

Tax Info

Zoning: R2F Mult Parcels/Sch Dis: Yes Addl Parcel Numbers: 010-303625-00, 010-303626-00, 010-303627-00, 010-303628-00, 010-303629-00, 010-303630-00, 010-303631-00, 010-303632-00, 010-303633-00, 010-303634-00 Tax Abatement: Yes Abatement End Date: 2037-01-01 Taxes (Yrly): 13154 Tax Incentive: Yes Parcel #: 010-029986 Tax Year: 2021

Remarks & Misc

Property Description: Fully renovated 2022. 10 Units. Each unit is ~1,000SF with 2 bedroom 1.5 bath, laundry hookups, Ecobee thermostats, heat pump HVAC, front and rear private porches. Condo conversion complete and condo association setup. Not operating as condo currently. New water service, mechanicals, electric, plumbing, roofing, windows, removed walls to create open floor plans. Tax abated 15 years 100% with no affordability requirements. Current owner paid affordability waiver. In Ohio Opportunity Zone and eligible for 10% investment tax credit! Secure access controlled parking lot with 10 spaces. 6 units currently operated as short term rentals, 2 units leased, and 2 units just finished renovations and available to lease. Minutes to Downtown, German Village, Grocery, Library, and more.

Status Change Info

Sold Price/SqFt: 132.79 Under Contract Date: 2023-03-28 Sold Date: 2023-06-26 Sold Price: $1,850,000

Income/Expenses

Gross Income: 208000 Net Operating Income: 160865 Total Expenses: 47135

Addl Acceptance Cond

None Known: 1

Financials

Financials ForYearOf: 2022 Gross Rental Income: 198000 Effective Income: 208000 Other Income: 10000 Vac & Cr Loss: 9900

Expenses

R.E. Taxes: 13154 Property Insurance: 9001 Off-Site Management: 12480 Repairs&Maintenance: 10000

2 Bedroom

2 Bedroom # of Units: 10 2 Bedroom Month Rent Per Unit: 1750

Construction

Brick: 1

Heat Fuel

Electric: 1

Parking Features

Assigned: 1

Sewer

Public Sewer: 1

Services Available

Electricity Available: 1 Sewer Available: 1 Water Available: 1

Miscellaneous

Basement: 1 Building Plans: 1 Public Transport: 1 Security System: 1 Survey: 1 W/D Hookups: 1

Tenant Pays

Sewer: 1 Water: 1 Electricity: 1

Alternate Uses

Bed & Breakfast: 1 Commercial: 1 Residential: 1

Auction Info

Auction/Online Bidding Y/N: No

Heating

Forced Air: 1 Heat Pump: 1

New Financing

Conventional: 1

Air Conditioning

Central Air: 1

MLS Primary PhotoSrc

Realtor Provided: 1

Location Property Info

Original List Price: 2500000 Sold Price: $1,850,000 Property Sub Type: Townhouse Street #: 1296 Street Name: Parsons Street Suffix: Avenue County: Franklin State: OH Zip Code: 43206 Subdiv/Cmplx/Comm: TwoXFive Townhomes by Kreais Companies School District: COLUMBUS CSD 2503 FRA CO. Township: None

OfficeContract Info

Status: Closed MLS Entry Date: 2022-11-30

Property Features

Addl Acceptance Cond: None Known Parking Features: Assigned Tenant Pays: Electricity; Sewer; Water Heat Fuel: Electric Heating: Forced Air; Heat Pump Air Conditioning: Central Air Construction: Brick Sewer: Public Sewer Services Available: Electricity Available; Sewer Available; Water Available Miscellaneous: Basement; Building Plans; Public Transport; Security System; Survey; W/D Hookups Alternate Uses: Bed & Breakfast; Commercial; Residential New Financing: Conventional MLS Primary PhotoSrc: Realtor Provided

Documents

Proforma ›

Condo PLAT ›

Condo Drawings ›

Listing Office: Keller Williams Consultants

Listing Agent: Joshua Kreais

Last Updated: February - 26 - 2025

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