700 Franklin Avenue, Columbus, OH 43205 (MLS# 218006892)

700 Franklin Avenue, Columbus, OH 43205

$1,350,000

Property Type: Multi-Family Lot Size (sq. ft.): 12,197 Status: Closed

Current Price: $1,350,000 List Date: 7/09/2018 Last Modified: 1/25/2025

Overview

Description

REMARKABLE BRICK 12 UNIT (3) BEDROOMS (1) BTH. PLUS ADDITIONAL LOT ADJACENT LOT WITH 11 GARAGE AND BUILD OUT TO PUT CARRIAGE HOUSE APT ABOUT 1 GARAGE. LOCATED AT THE CORNER OF PARSONS AND FRANKLIN AVE. IN HISTORIC OLDE TOWNE EAST. RENTS RANGE FROM $1000-1200 HUGH BASEMENT MIGHT SERVE FOR ADDITIONAL UNITS IN A CONDO CONVERSION PROJECT, GREAT RENTAL ADDITIONAL UPDATES TO KITCHEN AND BATHS TO HELP THIS GREAT BUILDING REACH ITS FULL RENTAL POTENTIAL. HARDWOOD FLOORS, SUN PORCHES, W/D HOOK UPS FRONT AND BACK ENTRANCES, CLASSIC ENTRY WITH TERRAZZO FLRS, WROUGHT IRON RAILS.

Listing Details MLS# 218006892

Location Property Info

Original List Price: 2000000
Property Sub Type: Midrise
Street #: 700
Street Name: Franklin
Street Suffix: Avenue
County: Franklin
State: OH
Zip Code: 43205
Subdiv/Cmplx/Comm: OLDE TOWNE EAST
School District: COLUMBUS CSD 2503 FRA CO.
Township: None

OfficeContract Info

MLS Entry Date: 2018-03-10

General Property Info

Number of Units: 12
# of Buildings: 2
Total Parking: 11
Building Sqft: 28068
Year Built: 1900
Built Prior to 1978: Yes
Occupancy Rate: 85
Lot Size (Side): 81
Acreage: 0.28
Use Code: 401 - APARTMENT:4-19 UNITS

Tax Info

Parcel #: 010-036405
Addl Parcel Numbers: 010-040702 724 FRANKLIN AVE.
Tax Year: 2017
Tax Abatement: No
Taxes (Yrly): 11748

Status Change Info

Under Contract Date: 2018-07-27
Sold Date: 2018-08-27
Sold Price/SqFt: 48.1

3 Bedroom

3 Bedroom # of Units: 12
3 Bedroom Month Rent Per Unit: 1000

More Information

Financials

Financials ForYearOf: 2017
Gross Rental Income: 112099.39
Vac & Cr Loss: 4

Expenses

R.E. Taxes: 13123.55
Property Insurance: 4504.92
Off-Site Management: 10485.42
Repairs&Maintenance: 17622
Electricity Expense: 1944.14
Gas Expense: 956.41
Water Expense: 4223.24

Auction Info

Auction/Online Bidding Y/N: No

Sale Info

Seller Assisted Fin: N
Seller/Buyer Concessions: N

Location & Property Info

List Price/SqFt: 60.57
City (Mailing Addr): Columbus
Corp LimitPerAuditor: Columbus
Dist To Intersxn: 0.2

Office/Contract Info

For Sale: Yes
Exchange: No

Remarks & Misc

Property Description: REMARKABLE BRICK 12 UNIT (3) BEDROOMS (1) BTH. PLUS ADDITIONAL LOT ADJACENT LOT WITH 11 GARAGE AND BUILD OUT TO PUT CARRIAGE HOUSE APT ABOUT 1 GARAGE. LOCATED AT THE CORNER OF PARSONS AND FRANKLIN AVE. IN HISTORIC OLDE TOWNE EAST. RENTS RANGE FROM $1000-1200 HUGH BASEMENT MIGHT SERVE FOR ADDITIONAL UNITS IN A CONDO CONVERSION PROJECT, GREAT RENTAL ADDITIONAL UPDATES TO KITCHEN AND BATHS TO HELP THIS GREAT BUILDING REACH ITS FULL RENTAL POTENTIAL. HARDWOOD FLOORS, SUN PORCHES, W/D HOOK UPS FRONT AND BACK ENTRANCES, CLASSIC ENTRY WITH TERRAZZO FLRS, WROUGHT IRON RAILS.

Income/Expenses

Gross Income: 112099
Net Operating Income: 83514
Total Expenses: 28584

Addl Acceptance Cond

None Known: Yes

Efficiency

Efficiency Month Rent Per Unit: 0

1 Bedroom

1 Bedroom Month Rent Per Unit: 0

2 Bedroom

2 Bedroom Month Rent Per Unit: 0

Construction

Brick: Yes

Heat Fuel

Gas: Yes

Services Available

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

Miscellaneous

Basement: Yes
Garages: Yes
Public Transport: Yes
W/D Hookups: Yes

Tenant Pays

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

Alternate Uses

Residential: 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 Owner Pays: Trash Tenant Pays: Electricity; Gas; Sewer; Water Heat Fuel: Gas Air Conditioning: Central Air Construction: Brick Services Available: Electricity Available; Natural Gas Available; Sewer Available; Storm Sewer; Water Available Miscellaneous: Basement; Garages; Public Transport; W/D Hookups Alternate Uses: Residential New Financing: Conventional MLS Primary PhotoSrc: Realtor Provided

Listing Office: Carriage Trade Realty, Inc.

Listing Agent: Nina M Masseria

Last Updated: January - 25 - 2025

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