295 Thurman Avenue, Columbus, OH 43206 (MLS# 226025465)

295 Thurman Avenue, Columbus, OH 43206

$1,900,888

Property Type: Multi-Family Lot Size (sq. ft.): 14,810 Status: Active

Current Price: $1,900,888 List Date: 7/09/2026 Last Modified: 7/15/2026

Overview

Description

Rare opportunity to acquire a beautifully maintained 10-unit brick apartment building located on desirable Thurman Avenue in one of Columbus' most sought-after rental corridors. The apartments consist of 8 - 2 bedroom & 2 - 1 bedroom. All upstairs units have wooden floors. This property has 2 parking lots. Institutional-quality investment opportunity combines strong in-place income, extensive capital improvements, and exceptional long-term upside. Current operations generate a NOI of approximately $106,600, with a 5.61% cap rate at the asking price. The property features a proven mix of traditional leases and furnished monthly rentals, offering future owners multiple strategies to increase income. Pro forma operating scenarios demonstrate the potential for significant NOI growth through expanded furnished monthly rentals. Ownership has invested extensively in renovations and major mechanical improvements, minimizing near-term capital expenditures. The property has been prof ... (Read more)

Listing Details MLS# 226025465

Location Property Info

Original List Price: 1900888
Property Sub Type: Flat
Street #: 295
Street Name: Thurman
Street Suffix: Avenue
County: Franklin
State: OH
Zip Code: 43206
Subdiv/Cmplx/Comm: German/Merion Village Area
School District: COLUMBUS CSD 2503 FRA CO.
Township: None

OfficeContract Info

MLS Entry Date: 2026-07-09

General Property Info

Number of Units: 10
# of Buildings: 3
Total Parking: 8
Off Street Parking Spaces: 8
Building Sqft: 7688
Year Built: 1963
Built Prior to 1978: Yes
Occupancy Rate: 100
Acreage: 0.34
Use Code: 401 - APARTMENT:4-19 UNITS

Tax Info

Parcel #: 010-023943
Zoning: R-2F
Mult Parcels/Sch Dis: No
Tax Year: 2024
Tax Abatement: No
Taxes (Yrly): 21328
Tax Incentive: No

1 Bedroom

1 Bedroom # of Units: 2

2 Bedroom

2 Bedroom # of Units: 8

More Information

Auction Info

Auction/Online Bidding Y/N: No

Location & Property Info

List Price/SqFt: 247.25
City (Mailing Addr): Columbus
Corp LimitPerAuditor: Columbus
Dist To Intersxn: 0.5

Office/Contract Info

For Sale: Yes
Exchange: No

Remarks & Misc

Property Description: Rare opportunity to acquire a beautifully maintained 10-unit brick apartment building located on desirable Thurman Avenue in one of Columbus' most sought-after rental corridors. The apartments consist of 8 - 2 bedroom & 2 - 1 bedroom. All upstairs units have wooden floors. This property has 2 parking lots. Institutional-quality investment opportunity combines strong in-place income, extensive capital improvements, and exceptional long-term upside. Current operations generate a NOI of approximately $106,600, with a 5.61% cap rate at the asking price. The property features a proven mix of traditional leases and furnished monthly rentals, offering future owners multiple strategies to increase income. Pro forma operating scenarios demonstrate the potential for significant NOI growth through expanded furnished monthly rentals. Ownership has invested extensively in renovations and major mechanical improvements, minimizing near-term capital expenditures. The property has been professionally managed with meticulous attention to maintenance, tenant retention, and operational efficiency. Located just minutes from Downtown Columbus, Nationwide Children's Hospital, Schiller Park, restaurants, coffee shops, breweries, and the heart of German Village, this walkable location continues to attract strong rental demand from professionals, healthcare employees, graduate students, and long-term residents. Current ownership is available to provide a seamless management transition and ongoing professional property management under a separate agreement, offering investors a unique opportunity to continue the property's proven operating model. Offering Memorandum available upon request. This property is Agent Owned.

Income/Expenses

Gross Income: 167137
Net Operating Income: 106600
Total Expenses: 60537

Addl Acceptance Cond

None Known: Yes

Construction

Brick: Yes

Heat Fuel

Gas: Yes

Parking Features

2 Off Street: Yes
No Garage: Yes

Water Source

Public: Yes

Sewer

Public Sewer: Yes

Miscellaneous

W/D Hookups: Yes

Tenant Pays

Gas: Yes
Sewer: Yes
Water: Yes
Electricity: Yes

Alternate Uses

Other: Yes

Heating

Forced Air: Yes

New Financing

Conventional: Yes

Air Conditioning

Central Air: Yes

Owner Pays

Trash: Yes

MLS Primary PhotoSrc

Realtor Provided: Yes

Property Features

Addl Acceptance Cond: None Known Parking Features: 2 Off Street; No Garage Owner Pays: Trash Tenant Pays: Electricity; Gas; Sewer; Water Heat Fuel: Gas Heating: Forced Air Air Conditioning: Central Air Construction: Brick Water Source: Public Sewer: Public Sewer Miscellaneous: W/D Hookups Alternate Uses: Other New Financing: Conventional MLS Primary PhotoSrc: Realtor Provided

Listing Office: Keller Williams Capital Ptnrs

Listing Agent: Rori Lowe

Last Updated: July - 15 - 2026

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