434 E Norwich Avenue, Columbus, OH 43201 (MLS# 223001795)

434 E Norwich Avenue, Columbus, OH 43201

$1,300,000

Property Type: Multi-Family Lot Size (sq. ft.): 11,326 Status: Closed

Current Price: $1,300,000 List Date: 2/01/2023 Last Modified: 2/27/2025

Overview

Description

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 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. Tenants pay all utilities. The property is currently 100% occupied and pre-leasing for the 2023-24 academic year is very strong.

Listing Details MLS# 223001795

Location Property Info

Original List Price: 1525000
Property Sub Type: Midrise
Street #: 434
Street PreDirection: E
Street Name: Norwich
Street Suffix: Avenue
County: Franklin
State: OH
Zip Code: 43201
School District: COLUMBUS CSD 2503 FRA CO.
Township: None

OfficeContract Info

MLS Entry Date: 2023-01-19

General Property Info

Number of Units: 12
Building Sqft: 9376
Year Built: 1970
Built Prior to 1978: Yes
Occupancy Rate: 100
Acreage: 0.26

Tax Info

Parcel #: 010-027375
Mult Parcels/Sch Dis: No
Tax Year: 2021
Tax Abatement: No
Taxes (Yrly): 15764

Status Change Info

Under Contract Date: 2023-04-08
Sold Date: 2023-04-28
Sold Price/SqFt: 138.65

Efficiency

Efficiency # of Units: 2
Efficiency Month Rent Per Unit: 750

More Information

2 Bedroom

2 Bedroom # of Units: 10
2 Bedroom Month Rent Per Unit: 1000

Auction Info

Auction/Online Bidding Y/N: No

Location & Property Info

List Price/SqFt: 162.65
City (Mailing Addr): Columbus
Corp LimitPerAuditor: Columbus

Office/Contract Info

Active on MLS: 2023-02-01
For Sale: Yes
Exchange: No

Remarks & Misc

Property Description: 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 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. Tenants pay all utilities. The property is currently 100% occupied and pre-leasing for the 2023-24 academic year is very strong.

Income/Expenses

Gross Income: 153977
Net Operating Income: 99546
Total Expenses: 54431

Addl Acceptance Cond

None Known: Yes

Construction

Block: Yes
Frame: Yes

Heat Fuel

Gas: Yes

Sewer

Public Sewer: Yes

Services Available

Electricity Available: Yes
Natural Gas Available: Yes
Sewer Available: Yes
Storm Sewer: Yes
Water Available: Yes

Tenant Pays

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

Heating

Forced Air: Yes

Air Conditioning

Central Air: Yes

Owner Pays

Trash: Yes

MLS Primary PhotoSrc

Realtor Provided: Yes

Property Features

Addl Acceptance Cond: None Known Owner Pays: Trash Tenant Pays: Electricity; Gas; Sewer; Water Heat Fuel: Gas Heating: Forced Air Air Conditioning: Central Air Construction: Block; Frame Sewer: Public Sewer Services Available: Electricity Available; Natural Gas Available; Sewer Available; Storm Sewer; Water Available MLS Primary PhotoSrc: Realtor Provided

Documents

Lead Based Paint Disclosure ›

Listing Office: Brown Multifamily Advisors,LLC

Listing Agent: Matthew R Brown

Last Updated: February - 27 - 2025

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