699 Wetmore Road, Columbus, OH 43214 (MLS# 224040759)

699 Wetmore Road, Columbus, OH 43214

$1,625,000

Property Type: Multi-Family Status: Closed

Current Price: $1,625,000 List Date: 11/18/2024 Last Modified: 12/13/2024

Overview

Description

Clintonville 16-Unit Apt Building located at the corner of Indianola & Wetmore Rd. Features 15 one-bedroom units and 1 studio, with 14 units currently leased as of 11/15/24, generating an AVG rent of $982.85/m. The rent roll is available under documents. New roof 2018. There are 14 carports and off-street parking for approx. 12 additional vehicles. Owner covers gas, water, and sewer, while residents pay electricity. With two units renting for $1,095 and $1,145, there's potential for rent increases. This building is a stable, long-term investment located on a bus line. Buyer concessions may be considered. This building is a stable long-term investment on the bus line that is a GOOD CANDIDATE FOR an A 1031 EXCHANGE BUYER. New roof in 2018

Listing Details MLS# 224040759

Location Property Info

Original List Price: 1500000
Property Sub Type: Midrise
Street #: 699
Street Name: Wetmore
Street Suffix: Road
County: Franklin
State: OH
Zip Code: 43214
School District: COLUMBUS CSD 2503 FRA CO.
Township: None

OfficeContract Info

MLS Entry Date: 2024-11-18

General Property Info

Number of Units: 16
# of Buildings: Yes
Total Parking: 26
Building Sqft: 12390
Year Built: 1968
Built Prior to 1978: Yes
Occupancy Rate: 94
Lot Size (Side): 180
Use Code: 401 - APARTMENT:4-19 UNITS

Tax Info

Parcel #: 010-084787
Zoning: AR-1
Mult Parcels/Sch Dis: Yes
Addl Parcel Numbers: 010084789 & 010084788
Assessment: none
Tax Year: 2023
Tax Abatement: No
Taxes (Yrly): 29566

Status Change Info

Under Contract Date: 2024-12-10
Sold Date: 2024-12-13
Sold Price/SqFt: 131.15

1 Bedroom

1 Bedroom # of Units: 16
1 Bedroom Month Rent Per Unit: 982

More Information

Financials

Financials ForYearOf: 2024
Gross Rental Income: 164826

Expenses

R.E. Taxes: 29837
Property Insurance: 8377
Repairs&Maintenance: 16567
Gas Expense: 12191

Auction Info

Auction/Online Bidding Y/N: No

Sale Info

Seller Assisted Fin: N
Seller/Buyer Concessions: N

Location & Property Info

List Price/SqFt: 121.07
City (Mailing Addr): Columbus
Corp LimitPerAuditor: Columbus
Dist To Intersxn: 0.5

Office/Contract Info

For Sale: Yes
Exchange: No

Remarks & Misc

Property Description: Clintonville 16-Unit Apt Building located at the corner of Indianola & Wetmore Rd. Features 15 one-bedroom units and 1 studio, with 14 units currently leased as of 11/15/24, generating an AVG rent of $982.85/m. The rent roll is available under documents. New roof 2018. There are 14 carports and off-street parking for approx. 12 additional vehicles. Owner covers gas, water, and sewer, while residents pay electricity. With two units renting for $1,095 and $1,145, there's potential for rent increases. This building is a stable, long-term investment located on a bus line. Buyer concessions may be considered. This building is a stable long-term investment on the bus line that is a GOOD CANDIDATE FOR an A 1031 EXCHANGE BUYER. New roof in 2018

Income/Expenses

Gross Income: 164826
Net Operating Income: 95515
Total Expenses: 69311

Addl Acceptance Cond

None Known: Yes

Construction

Brick: Yes

Heat Fuel

Gas: Yes

Parking Features

On Street: Yes

Sewer

Public Sewer: Yes

Services Available

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

Miscellaneous

Carports: Yes
Public Transport: Yes

Tenant Pays

Electricity: Yes

Heating

Forced Air: Yes

New Financing

Conventional: Yes

Air Conditioning

Central Air: Yes

Owner Pays

Gas: Yes
Sewer: Yes
Trash: Yes
Water: Yes

MLS Primary PhotoSrc

Realtor Provided: Yes

Property Features

Addl Acceptance Cond: None Known Parking Features: On Street Owner Pays: Gas; Sewer; Trash; Water Tenant Pays: Electricity Heat Fuel: Gas Heating: Forced Air Air Conditioning: Central Air Construction: Brick Sewer: Public Sewer Services Available: Electricity Available; Natural Gas Available; Sewer Available; Water Available Miscellaneous: Carports; Public Transport New Financing: Conventional MLS Primary PhotoSrc: Realtor Provided

Listing Office: Keller Williams Capital Ptnrs

Listing Agent: Joseph C Jackson

Last Updated: December - 13 - 2024

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