700-710 Franklin Avenue

About this property

Fully occupied, 12-unit brick walk-up with 11 detached garage bays in Olde Towne East, minutes from Downtown Columbus. It has undergone significant renovation since 2018, the three-story building offers eleven 2 bed / 2 bath apartments and one 3 bed / 1 bath, with hardwood floors, exposed brick, ceiling fans, and white-cabinet kitchens with stone countertops. Select units add an enclosed sunroom. The property is 100% occupied. In-place rents average $1,870 with a gross monthly income of $22,915. Only 3 of the 11 garage bays are currently leased, which adds a further income opportunity at $150 per bay. With substantial capital improvements, strong in-place cash flow, and additional upside through garage leasing, this property presents an attractive opportunity for investors seeking a stabilized multifamily asset in one of Columbus' most desirable urban neighborhoods.

Highlights

Sewer

Public Sewer

Cooling

Central Air

Heating

Forced Air

Utilities

Water Available, Sewer Available, Natural Gas Available, Electricity Available, Storm Sewer

Water Source

Public

Parking Total

11

Location